Lieutenant Governor Garlin Gilchrist II has announced that nine organizations in Michigan will receive federal grants from the State Small Business Credit Initiative (SSBCI) Technical Assistance (TA) grant program to better support small businesses with technical assistance like legal, accounting, and financial advisory services [0bfac6ce].
This announcement comes as part of the ongoing efforts to boost small business growth and economic development in the state. The grants will enable these organizations to provide crucial support services to small businesses, including legal, accounting, and financial advisory services. By offering these resources, the aim is to help small businesses navigate the challenges they face and thrive in a competitive market.
The State Small Business Credit Initiative (SSBCI) Technical Assistance (TA) grant program is a federal initiative that aims to provide funding to organizations that can offer valuable support services to small businesses. These services can range from legal and accounting assistance to financial advisory services. By investing in these organizations, the government hopes to empower small businesses and contribute to the overall economic growth of the state [0bfac6ce].
The nine organizations selected to receive funding through the SSBCI TA grant program will play a crucial role in supporting small businesses in Michigan. Their expertise and resources will be instrumental in helping small businesses overcome challenges and achieve their goals. By providing access to legal, accounting, and financial advisory services, these organizations will contribute to the success and sustainability of small businesses in the state.
This initiative aligns with the broader goal of fostering a favorable environment for small businesses in Michigan. By investing in technical assistance programs, the government aims to create a supportive ecosystem that enables small businesses to thrive and contribute to the state's economy. The funding provided through the SSBCI TA grant program will further strengthen the infrastructure of support services available to small businesses, positioning them for long-term success [0bfac6ce].
Meanwhile, the U.S. Small Business Administration (SBA) has announced $3 million in new funding for the Cybersecurity for Small Businesses Pilot Program [eff60842]. The funding will be used to strengthen cybersecurity infrastructure for emerging small businesses. The SBA will award three grants to state agencies, which will provide training, counseling, and tailored cybersecurity services to startups and emerging entrepreneurs. The goal is to educate these businesses about cyber threats and help them develop robust cybersecurity measures.
The Cybersecurity for Small Businesses Pilot Program has been instrumental in providing funding for cybersecurity initiatives. Since 2022, the program has awarded nearly $9 million in funding. In addition to the grant program, the SBA offers other cybersecurity resources to small businesses through its local assistance program and website.
The combination of the SSBCI TA grant program and the SBA's Cybersecurity for Small Businesses Pilot Program demonstrates the commitment of both the federal and state governments to support small businesses in Michigan. By providing technical assistance and cybersecurity resources, these programs aim to empower small businesses and contribute to their long-term success and growth.