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Boulder SBDC Receives a Grant from JPMorgan Chase

Monday, September 12, 2016
The Boulder Small Business Development Center was recently awarded a $60,000 grant from JPMorgan Chase in support of our Path to Entrepreneurship (P2e) Program, which will offer practical education programs and technical assistance to low-to-moderate income (LMI) individuals to help start new businesses or grow existing businesses. The program is designed to assist underserved populations to progress to the next level of entrepreneurial success.
Even though Boulder is generally known for high tech entrepreneurship and as being a high-net worth community, 14% of the city’s population is below the poverty level of $23,550 for a family of 4.* The efforts of the P2e Program are designed to directly help LMI residents establish financial stability through business ownership. Their success will not only enrich their own lives, but also benefit Boulder’s economy and community as a whole.
Business ownership can be a path out of poverty and into a solid financial future for many LMI individuals. However, barriers such as lack of education and experience, lack of exposure to business ownership as a viable career option (and a lack of confidence in their own success), language barriers, lack of awareness of resources and lack of trust in organizations that can provide support often block the path to success for these individuals.

The P2e Program will provide outreach, workshops, educational programs and technical assistance that will help LMI individuals reach their potential as business owners. Thanks to the financial support of JPMorgan Chase, the Boulder SBDC will now be able to continue and expand the program.

The program will include Bilingual Business Bootcamp series, Latino Business Mentor Roundtable series, How to Start a Restaurant Series, business basics workshops and one-on-one business assistance. Through this program, the Boulder SBDC will assist new and developing businesses and train new business owners by providing workshops and resources to LMI individuals in Boulder and the surrounding areas. 

*Source: The Community Foundation of Boulder County 2015 Trends Report; Colorado State Demography Office; 2013 American Community Survey

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