The Small Business Association (SBA) has announced $1.1 million will be awarded in grants and contracts to promote the development, success and sustainability of native-owned businesses in the US.
$1.1 Million in Grants and Awards Support Native American Entrepreneurs
The awards are designed to address the challenges facing native American small business owners. Those selected for awards have a track record of service working with Native American small businesses. They also demonstrate they can provide the technical and management assistance service that small business need, especially during these difficult times.
The awarding of such vast funding for organizations dedicated to helping Native American microenterprises provide a vital lifeline to many small businesses across the United States. The resources provided by the groups will be used to help small businesses with growth, job expansion and sustaining the next generation of business leaders.
It is therefore important that small businesses know about the resources, support and assistance that is available to them through the award recipients that span different communities, industries and tribal nations.
Native-Owned Small Businesses and the Economy
Isabella Casillas Guzman, SBA Administrator, commented: “Native-owned small businesses are vital to our shared economic future, and the SBA is committed to engaging and supporting them. The $1.1 million in awards will provide a boost to the SBA’s service providers working to address the systemic inequities that continue to affect indigenous peoples.”
Developing a Range of Services
The investment will help the organizations in receipt of the awards develop a range of services that they offer small businesses. Such services include strategic and operational planning, and management consulting, marketing and business development, accounting, bookkeeping, and financial analysis, contract management and compliance resources, information technology and systems development, guidance on industry-specific certifications and requirements.
Narrowing the Gap in Business Development Services
The diverse groups of awardees will focus on narrowing the gap in businesses development services provided by the SBA to Native American ventures. Among the award recipients was the Council on Native Hawaiian Advancement, the National Center for American Indian Enterprise Development, Our Native American Business Network, Rural Enterprises of Oklahoma Inc, Two Rivers Community Development Corporation, RedWind, and Sister Sky, Inc.
The grants and awards are managed through the SBA’s Office of Native American Affairs.
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It’s about time. This is Long overdue.