by Anita Hollins, CCV President
Everyone says that small businesses are what keep this economy going. They are the main creators of jobs, revenues and consumerism but what’s not agreed on is how to support this growth, especially in Chicago. As recent as Monday, October 25, 2010 proposed budget cuts will make it even more difficult for small business in Chicago.
The chambers of commerce and small business development organizations that exist in Chicago are vital to keeping Chicago’s economy going. We’re happy to know that the City of Chicago has not completely eliminated funding for the various Chambers of Commerce and other supporting business development organizations in the city, but the state of the situation is a dire one. Chicago Community Ventures (CCV) is one of those organizations that works to support and build businesses and communities all over the city.
CCV has mutual relationships with several of the Chambers of Commerce and other small business development organizations allowing us to help businesses from the south side to the west side to the north side. As a Community Development Finance Institution, we have that component that many other organizations cannot offer as we can finance some of the “unbankable” businesses that walk through our doors and are supported by other small business development organizations.
Barry Moltz of Crain's Chicago chronicaled broken promises and 3 things that small businesses need continued access to but there’s more. Consider the immediate impacts to be felt on communities that are already on the brink of collapse. Lost wages, increased poverty and a continued sense of despair will grip these communities even more. If Chicago is to become the “World Class” city it so desires to be, economic development through small business support needs to be a top issue and concern. Contact your alderman and help to build businesses that build comunities.
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