Mayor Wu Launches $750,000 Grant Fund to Support Business Growth and Access to City Contracts

Mayor Wu Launches $750,000 Grant Fund to Assist Enterprise Progress and Entry to Metropolis Contracts

Beginning April 10, small, native companies can apply for grants of as much as $15,000 to assist meet vital working wants and enhance capability

Mayor Michelle Wu at present relaunched the Metropolis of Bostons Contracting Alternative Fund with $750,000 obtainable to assist small, native companies construct their operational capability and stage the taking part in area for traditionally deprived companies fascinated by metropolis contracts. The fund is a part of Mayor Wu’s complete strategy to addressing inequities within the awarding of metropolis contracts to small and various companies. Grants as much as $15,000 might be obtainable to certified companies that submit a aggressive software.

Amongst different issues, funds can be utilized to buy new tools, develop a enterprise rental house, purchase bonds or insurance coverage, and supply different operational wants to permit the enterprise to scale to the subsequent stage. The fund was designed via intensive dialogues and group conversations with small, various enterprise house owners to handle limitations to enterprise success in public contracts recognized within the cities Inequality survey 2020. The examine confirmed that women-owned companies and companies of colour are extensively obtainable to carry out metropolis contracts, however are considerably underrepresented in metropolis spending on development, skilled companies and items. This grant program is a part of Mayor Wu’s dedication to supporting these small, minority- and women-owned companies to turn out to be licensed suppliers and to make Boston an economically simply metropolis that gives alternatives for all communities to construct wealth via enterprise possession.

We should use each device potential to interrupt down limitations for companies that need to win metropolis contracts, develop financial alternative and guarantee Boston is a metropolis for everybody,” stated Mayor Michelle Wu. “The relaunch of the Contracting Alternative Fund will assist small, native companies construct their capability and develop alternatives for our minority-owned and women-owned small companies.

This yr, the Contracting Alternative Fund may have a powerful choice for funding candidates working companies in quite a few precedence sectors the place the Metropolis performs important contracts. Licensed MBEs (Minority-Owned Companies), WBEs (Girls-Owned Companies), SLBEs (Small Native Companies) and Metropolis-Acknowledged VBEs (Veteran-Owned Companies) within the following sectors are inspired to use for grant funding: Waste Assortment and Administration , snow removing, landscaping, design and architectural companies, meals and eating companies and development (plumbing and hvac companies; electrical work; common contractors; roofing, siding and flooring work; insulation, drywall, masonry and weatherproofing). Candidates should be licensed with the Metropolis of Boston’s Provider Range Program. Extra details about firm certifications is accessible right here.

These precedence sectors have been chosen primarily based on areas of excessive city spending and also will be the main focus of a brand new enterprise accelerator pilot program launching this autumn. Companies chosen to take part on this program will obtain private and common consulting companies, monetary administration instruments and procurement help from the Metropolis that can assist them develop and put together to bid for bigger contracts of their industries. This program will construct on Mayor Wu’s dedication to serving to various companies turn out to be city entrepreneurs by bringing collectively metropolis departments and enterprise service organizations to offer a brand new stage of intensive, sector-specific technical help to assist remodel town’s provider base.

The Contracting Alternative Fund software might be obtainable right here Monday 10 April at 12. These can register right here to obtain an e-mail notification from the Division of Provider Range publication.

This fund is one other device that this administration is utilizing to make sure that we spend money on various corporations and develop alternatives to do enterprise with them, stated Segun Idowu, Head of Financial Alternative and Inclusion. Mayor Wu and our workforce are targeted on responding to what we hear from native companies, filling funding gaps and eradicating any limitations to attaining our purpose of making fairness within the metropolis’s procurement course of.

In Spring 2022, the Metropolis’s Division of Provider Range awarded grants of as much as $15,000 to licensed MBEs, WBEs, SLBEs and Metropolis-recognized VBEs to help capability constructing actions. A complete of $1 million was awarded to 71 companies, of which 71% had been licensed minority-owned companies and eight% had been women-owned companies. At the least 8 corporations that obtained earlier grants from the Contracting Alternative Fund received metropolis contracts.

The Boston Alternative Fund has helped enhance my enterprise by giving me the chance to fund the insurance coverage protection wanted to assist develop, stated Brittany McLemore, proprietor of Breezie Cleansing and Janitorial Providers and a former Contracting Alternative Fund recipient.

Breezie Cleansing and Janitorial Providers is a Roxbury-based small and woman-owned enterprise that was awarded a contract to offer janitorial companies for a city-owned constructing in Roxbury.

The renewal of this fund builds on important investments made by the Metropolis of Boston in provider range and truthful procurement initiatives since February 2021, when it established annual metropolis spending targets of 25% for ladies and minority-owned companies. In Could 2022, Mayor Wu and Boston Public Faculties awarded Metropolis Contemporary Meals, a Roxbury-based worker and Black-owned meals service enterprise, a contract with a undertaking worth of over $17 million, the most important non-construction contract for a licensed Black-owned enterprise. In December 2022, the municipality awarded three companies owned by girls or folks of colour snow removing contracts, the place two of those contracts are a part of the Metropolis of Boston’s Sheltered Market Program to advertise fairness in procurement with direct outreach help from the Division of Provider Range. In December 2021, Mayor Wu filed a order, later accepted by the Metropolis Council, which allowed Boston to designate as much as six metropolis contracts for procurement from minority- and women-owned companies. By way of key investments in workers and programmatic wants, the Metropolis is implementing new initiatives that search to handle previous and current impacts of discrimination, disparities, obstacles and limitations in its procurement course of that have an effect on minority- and women-owned companies. Extra info is accessible right here.

This renewal additionally builds on Mayor Wu’s longstanding dedication to demanding truthful metropolis contracts and shutting the racial wealth hole. In 2016, then-Councilor Wu and then-Councilor Ayanna Pressley presided Metropolis council listening to that examined town’s procurement course of and efforts to help native companies. In 2017, Mayor Wu and Congressman Pressley sponsored a regulation like metropolis council members demanding town accumulate extra information on contracting. Mayor Wu handed one groundbreaking regulation it required town of Boston to vary its meals procurement practices to fulfill sure requirements round racial fairness, truthful wages for staff, environmental sustainability and vitamin.

Author: ZeroToHero

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