Small business development is critical to the health and vitality of our neighborhoods, communities and regional economy. For years, MACDC has supported our members as they offered training, technical assistance and access to capital to small businesses and micro enterprises, including those located in inner-city and rural communities, those from immigrant communities and communities of color and other traditional disadvantaged communities. During 2015, MACDC members helped 3,283 entrepreneurs in their communities through training, technical assistance or lending.
CLICK HERE for the federal government's Small Business Profile for Massachusetts.
Currently, MACDC is supporting our members through the following activities:
- Professional Training: We provide rigorous training to small business development professionals serving disadvantaged communities in a number of areas, including: micro lending, business planning, client assessment, program evaluation and client outcome metrics.
- Peer Networks: We host "peer-to-peer" networking sessions to supplement formal training opportunities and provide a support network of colleagues who can help staff build skills, solve specific problems, work jointly on new initiatives and programs, share information on emerging issues, and provide a source of professional and personal support.
- Technical Assistance: We offer technical assistance to individual practitioners to help them improve their skills, implement best practices, and grow their programs. Such assistance will sometimes be provided by staff and other times by consultants.
- Resource Development: We advocate with public and private organizations to expand the funding available for small business development in Massachusetts. A central focus of this effort is expanding the existing Small Business Technical Assistance program administered by the Massachusetts Growth Capital Corporation. This past year we secured $1,000,000 in funding and we hope to achieve further increases in the years to come. We also work with MGCC to provide discounted loan capital to local and regional micro lenders.
- Boston Pilot Program: in 2013, we launched a new partnership with the Massachusetts Minority Contractors Association through which we will be helping CDCs hire more minority and women owned contractors on their real estate construction projects. The Pilot Program will work with 11 CDC projects to obtain MBE and WBE utilization rates of 30% and 10% respectfully