Downtown businesses get $400K from feds
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Hey there, time traveller!
This article was published 06/02/2024 (814 days ago), so information in it may no longer be current.
Businesses in downtown Brandon will receive $400,000 in funding from the federal government, the Brandon Downtown Development Corporation announced Monday.
Ottawa, through the BDDC, will disburse the funds between February 2024 and March 2026.
The corporation’s executive director, Emmanuel Ahaneku, said the funding would mitigate the impact of continued economic challenges faced by small and medium enterprises.
“Fifty thousand dollars will be disbursed between now and next month, $200,000 between April 2024 and March 2025 and an additional $150,000 between April 2025 to March 2026,” Ahaneku told the Sun. “The grant will focus services targeted to provide specific supports that help downtown businesses adapt to the current environment and build business resiliency.”
The businesses, new or existing, can access up to 50 per cent of eligible expenses, with a cap set at $10,000. This financial support aims to empower businesses in their pursuit of growth and development within the downtown Brandon landscape.
Applications for the funding will undergo careful evaluation, focusing on how the requested funds will help achieve identified long-term growth plans.
“Approved funding shall be paid to an expert external service provider with the skills, knowledge and expertise to support the business growth goals and help the proposed business improvement project be completed successfully and in a timely fashion,” Ahaneku said.
Eligible expenses covered by the funding encompass a broad spectrum of areas vital for business enhancement.
These include business strategy development and review, operational audits to pinpoint areas needing attention, marketing/advertising/branding/graphic design, digital/e-commerce support, web services, financing/accounting assistance, human resources support, training and development, HR planning, organizational design, employee data management, staffing solutions and strategies, market/product research, IT support, business process automation, system security, among others.
The initiative, Ahaneku said, underscores BDDC’s commitment to fostering a thriving business community in downtown Brandon, reflecting a proactive approach to addressing the evolving needs of local enterprises.
» aodutola@brandonsun.com
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