SBRN Recap FY 2023 - 2024
We are pleased to report the significant impact of our Small Business Support on local businesses in FY 23-24, focusing on securing financial assistance, streamlining business licensing, enhancing online presence, and delivering extensive technical assistance and community outreach.
SBRN Recap FY 2023 - 2024
We are pleased to report the significant impact of our Small Business Support on local businesses in FY 23-24, focusing on securing financial assistance, streamlining business licensing, enhancing online presence, and delivering extensive technical assistance and community outreach.
Key Achievements:
- Financial Assistance: Secured $150,000 in Small Business Resiliency Loans (SBRL) for 6 businesses, enabling them to expand operations, improve infrastructure, and stabilize finances.
- Business Licensing Support: Streamlined the acquisition of Unique Business Identifier (UBI) and Universal Employer Identification (UEI) numbers, facilitating easier access to grants and loans.
- Increased Online Presence: Partnered with a subcontractor to enhance the online presence of 6 businesses through website visibility services, optimizing online directory listings, and leveraging targeted advertising campaigns.
- Workshops and Technical Assistance: Conducted over 346 technical assistance sessions that included TA for the second round of SBRL applications and organized 9 collaborative workshops. Topics included marketing, financial management, startup research, and legal considerations, tailored to meet the specific needs of Khmer-owned businesses.
- Community Empowerment: Empowered over 138 Khmer businesses through educational workshops and capacity-building initiatives.
- Outreach Impact: Engaged over 17,906 community members and 184 business owners through various outreach efforts, including social media, in-person events, phone calls, and emails.
Evaluating Success and Impact:
– Business Growth: We are encouraged to see early positive results, with participants reporting improved financial health and operational capabilities.
Customer Feedback
Angkor Wok: “Having someone from your office assist with the application process was incredibly helpful.”
BNE Investment: “Your team provided exceptional support, ensuring a fast and successful process.”
Dashing Digits: “The team has been extremely helpful in helping hold my hand and providing guidance through every step of the process from license renewals to the SBRL application. It is a great opportunity to get more funding for my business and to help businesses like myself who have been impacted by the pandemic and unexpected life circumstances.”
Looking Ahead:
The SBRN program will continue to provide resources and support to help our local businesses continue to grow, thrive, and make positive impacts in the community.
