In a recent meeting of the Harrisonburg Economic Development Authority, significant strides were made in supporting local entrepreneurs through a new coaching program. The initiative, which ran from March to May, partnered with EQ ALL, a Texas-based company known for its expertise in assisting small businesses and diverse entrepreneurs. The program successfully engaged 29 businesses, with a notable 19 being women-owned and 16 minority-owned, reflecting a strong commitment to inclusivity.

Participants in the program received personalized coaching sessions, focusing on essential business topics such as financial management and marketing. The structure allowed entrepreneurs to tailor their learning experience, ensuring they gained relevant skills to enhance their business operations. Feedback from participants has been overwhelmingly positive, indicating that the program has effectively addressed the needs of local business owners.

The Economic Development Authority has allocated $62,000 in the upcoming budget to continue this initiative, with potential additional funding from a grant awarded by the National League of Cities. This grant could provide up to $50,000 for further outreach efforts, aimed at improving engagement with the community and attracting more participants in future cohorts.

Despite the success, the program faced challenges in filling all available slots, as one business dropped out due to time constraints. The authority acknowledged the difficulty in reaching potential participants, emphasizing the importance of building relationships and utilizing social media for outreach.

Looking ahead, the Economic Development Authority plans to recruit for the next round of the program starting in September, with a focus on expanding its reach to ensure more entrepreneurs can benefit from the resources available. The meeting underscored the authority's ongoing commitment to fostering a supportive environment for local businesses, particularly those owned by underrepresented groups.