BUSINESS MATTERS City of Augusta, the Greater Augusta Black Chamber of Commerce To Open Entrepreneurship Training Program

AUGUSTA

This month, the City of Augusta and the Greater Augusta Black Chamber of Commerce, unveiled plans for their new CABE Fund (City of Augusta Business Equity), a Augusta $425,000 Guaranteed Loan/Grant Training Program, funded by the City of Augusta. This program will provide entrepreneurs and minority small business owners with the needed training and capital to be successful in an ever-changing business world. It is funded through Augusta’s allocation from the American Rescue Plan Act.

The CABE Fund Program will offer in the City of Augusta a comprehensive innovative approach to assist both new and existing entrepreneurs with the following:

Four weeks of training, and an additional six weeks of coaching and mentorship for new and existing minority owned business owners and entrepreneurs.

The additional six weeks of coaching and mentorship are a critical component of the program to ensure that participants stay engaged, are taking actionable next steps, and have the support they need to succeed.

At the end of the program guaranteed grants/loans will be provided after all criteria are met within program guidelines.

Courses from subject matter experts from the southeast and the CSRA that are from a similar demographic.

Training components include:

Introduction to Entrepreneurship, Business Planning Basics, Business Structure 101, Bookkeeping & Recordkeeping, Business Insurance 101, Business Marketing/Branding 101, Growing Your Business and Obtaining Your First Customer, Credit Essentials, Reporting and Tracking cash flow, and Running a successful Business.

The initiative is part of the City of Augusta’s continued effort to support sustainable businesses and economic opportunity by focusing on small businesses training and providing a guaranteed economic opportunity. The hope is that these entrepreneurs can connect and collaborate bravely in the water of business and commerce. This program is unique in that it offers entrepreneurs both training in business fundamentals and access to capi-

• tal upon program completion.

Formed in 2017, GABCC is a historically Black chamber of commerce in the CSRA that supports minority-owned, women-owned, disadvantaged, and black-owned businesses. The chamber has been dedicated to advocating for its members and the community, specifically targeting economic growth and sustainability via workshops, technical assistance, and networking opportunities.

Greater Augusta Black Chamber of Commerce is an 501c6 organization and formed the GABCC Foundation in 2020, which is an official an 501c3 organization.

“The partnership with the City of Augusta will help to continue to carry out the Greater Augusta Black Chamber of Commerce’s mission to foster economic stability for businesses in the CSRA through advocacy, education, networking, discovery, and these strategic partnerships.” This program is based on similar GABBC-led programs in Aiken, SC and Augusta, GA.