SMALL BUSINESS
It was a joint effort by many county
departments and regional business
organizations and college centers that
enabled small businesses to begin to
recover financially from the pandemic.
Here are several examples of their efforts
and the businesses that benefited.
MARTIN COUNTY
The grant application process was
handled by county departments without
the need for much SBDC involvement.
Joan Goodrich, executive director
of the Business Development Board of
Martin County, said more than 400 small
businesses were helped with a total of $4
million in funding.
“We didn’t need help with CARES Act
applications,” Goodrich said “but we do
work closely with SBDC on business
training. And we love our partnership
with them through the Business Accelerator
Program, it’s our fifth anniversary
with that. So far, 100 small business owners
have completed the program and received
a total of $70,000 in micro grants.
SBDC at IRSC have been great partners
and we’d like to do more with them.
We particularly appreciate the help we
receive from assistant director Katherine
Culhane at IRSC’s Chastain Campus.”
Goodrich noted that 95 percent of
Martin County businesses employ fewer
than 20 people. The hospitality industry
was hardest-hit by pandemic restrictions,
she said. Most other small business sectors
seemed able to adapt to the difficult
circumstances.
Goodrich noted a recent business
confidence survey showed business
owners are feeling fairly positive about
the future.
OKEECHOBEE COUNTY
County staff processed grant applications
without the need for outside help,
according to Okeechobee Economic
Development Corp. Business Manager
Kaylee King.
However, her organization does work
closely with SBDC at IRSC, she said. She
noted that her own organization is in
need of a new business plan and they
are working on developing a business
retention and expansion program with
SBDC help.
“Our airport manager is working with
Tom Kindred on a new strategic plan for
18 TCBusiness.com
Helene Caseltine, economic development director
for Indian River County Chamber of Commerce,
said more than 200 small businesses received $2.2
million in federal assistance.
More than 400 small businesses received a total
of $4 million in pandemic aid, according to Joan
Goodrich, executive director of the Business
Development Board of Martin County.
the industrial park at the airport,”
King said.
As far as business recovery in the
county, it’s a mixed bag, King said.
“Some industries are doing better than
they’ve ever done. Vehicle sales, for instance
are up 300 percent in some cases,
with demand outstripping inventory. But
some businesses haven’t bounced back.
Restaurants and others are still down.
Many small businesses are surviving
using volunteers to operate with smaller
payrolls. Yes, there is a need for more
continuing support. In our area, tourism
is a real factor, despite difficulties
business access capital resources.
“We currently have no mechanism to provide
micro loans,” Tesch explained. He said,
however, that EDC will make use of SBDC’s
network of consultants to offer advice
and strategy to business owners in need
of continuing help. A hybrid arrangement
in concert with state and local banks may
become a reality in the future, Tesch hopes.
“We’re hearing that $5,000 to $20,000
loans are not effective for local banks,”
Tesch said, adding that future help in these
categories may require setting up community
finance corporations in the future.
“IRSC grads are still working on loan applications,
and the college’s contribution
has been very valuable. Tom and his staff
worked seven days a week to make it all
happen. I think we were able to do some
good stuff together,” Tesch concluded.
LOANS HELP PAY BILLS
It was a similar situation in Indian River
County. There, the Chamber of Commerce
also worked closely with FSBDC at IRSC,
according to Helene Caseltine, the chamber’s
economic development director.
Although funds from Indian River
County are exhausted, Caseltine noted
that more than 200 small businesses had
received assistance totaling $2.2 million.
“It’s been extremely helpful to local
business. The money has been used to pay
utilities, rent, help retain staff and buy supplies,”
Caseltine said.
Indian River County efforts focused
on businesses with fewer than 25 FTEs,
including the owner, she noted.
The county concentrated on the hardest
hit sector, the hospitality industry.
“Hotels, bars, tour operators. Everyone
took a hit,” Caseltine recalled. “They were
decimated.”
County grants became available after
the second round of state-mandated closings
for hair salons, yoga studios, gyms
and nail salons during the months of April
and May.
A third round of grants were made available
in January, Caseltine said, when criteria
were expanded to include nonmedical
services such as tattoo parlors. At that
time, assistance was boosted to $10,000.
Today, Caseltine said many Vero Beach
businesses are back in hiring mode and
the local economy is picking up.
“I ask them how things are and they say
they are doing better,” she said. “Local
people and visitors are coming back. We’re
hoping Congress will do more to help.
We have about 30 businesses that still
need help.” v
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FINANCIAL AID AND HARD WORK PRODUCES SUCCESS
BY ANTHONY WESTBURY
/TCBusiness.com