To Help Our Economy Bounce Back, We Must Put Small Business First

Miami-Dade’s economy is powered by small businesses, and they need our support now more than ever.

lecaveDuring Small Business Week this year, we must recommit to helping our small businesses get through this crisis intact. Investing in small business relief isn’t just the right thing for families who are struggling – it’s the key to making sure our economy recovers.

Small businesses employ over 53% of our county’s workforce.

Nearly 40% of all Miami-Dade business owners are Black, Hispanic, or women. And pre-pandemic, women-led small businesses in our county were growing at a faster rate than male-owned firms.

Small business is the engine that makes our community and economy more diverse and helps more families to thrive. Keeping this engine running is how we survive economic crisis, and ensure we don’t undo the many gains made by hardworking entrepreneurs who have built successful businesses and created opportunity within their own communities.

I’m proud that the County Commission has launched programs to help distribute millions of dollars of CARES Act funding directly to small businesses, including the RISE Miami-Dade Fund and Small Business Assistance Forgivable Loans.

Last month my office also awarded Mom and Pop grants to dozens of local businesses in South Dade, so they can keep moving forward.

But we also know that the impacts of the pandemic and the economic down turn are not felt equally across all communities. Minority-owned businesses have been hit especially hard and have struggled to obtain loans.

To confront these challenges we need to double down on programs that uplift minority-led businesses. In District 8, we invest in women and minority-owned businesses through our incubator Accelerate South Dade, the first of its kind in the county. The incubator provides access to coaching, workspace, and capital to help level the playing field for more businesses to succeed.

Investing in small business survival and growth must be the foundation of our economic recovery plan, and it’s the key to coming out of this crisis stronger than ever. 

Learn more about and apply for Miami-Dade small business assistance loans here: https://www.miamidade.gov/global/initiatives/coronavirus/assistance/business.page

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