Small businesses are the economic engines of low-income communities and the largest employer of low-wage workers. Seedco's economic development program is predicated on the idea that by strengthening the small firms in a neighborhood, local entrepreneurs do well and local workers have more-and better-jobs available. As companies succeed, a multiplier effect generates more economic activity in the community.
By integrating financial, technical and workforce assistance, we ensure growing small firms have access to a mix of solutions. Technical assistance, for example, includes support for issues such as human resources, business operations and financial management, with services delivered through workshops, one-on-one counseling and referrals to specialized resources. Seedco's Workforce Development programs provide firms with a ready pool of prepared job applicants, and the Asset Building programs help employees gain more from work by linking them to supports such as childcare and tax credits. Finally, Seedco's Community Finance program can provide affordable capital to a expand a business—thereby improving the quality of jobs for employees.
A Mix of Services
Community Entrepreneurs & Employers' economic development philosophy is to be able to provide answers to a business' needs for affordable capital, credible information and a ready workforce. In New York City, for example, CEE operates small business assistance in Tennessee and Alabama and two Business Solutions Centers. When an entrepreneur walks in looking for help, he or she has access to a wide range of comprehensive, highly specialized services-loans, a hiring pipeline, business development advice, professional services and more.
Workforce Development
Seedco's long-standing experience in workforce development is a golden asset to clients looking to hire. Seedco's One-Stop Career Center In Upper Manhattan offers local firms a pipeline of workers looking for a job, and the EarnBenefits program helps employees access work supports such as tax credits, health insurance and training opportunities-income-enhancing benefits that are known to help keep a worker on the job.
Technical Assistance
Sometimes what a firm needs more than anything else is information. Seedco holds workshops, provides references and holds one-on-one counseling sessions with small business owners to assist with crucial business issues such as marketing, legal advice, information technology resources, facilitation for working with government programs and business planning.
Finance
Access to capital can be the crucial factor for a company's success or even survival. CEE staff work closely with Seedco Financial Services (SFS), our community development financial institution with $75 million under management, to provide flexible, below-market financing. We also connect clients with private and nonprofit partners like Accion and East Harlem Business Capital Corporation to provide micro loans of less than $25,000.
Each of these programs works best in conjunction with the others. For example, loans from SFS typically include a covenant that requires the firm to hire locally.
For more information on CEE, please contact Steven Cohen.
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NYC Business Solutions Centers
Seedco operates two Business Solutions Centers in Upper and Lower Manhattan as part of NYC Business Solutions, an initiative of the City of New York. Through these centers, Seedco provides training and one-on-one consulting engagements to thousands of entrepreneurs and employers each year.
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