November 5, 2020 at 12:41 p.m.
Associated Bank grants $26,500 to Nicolet GRID program, OCEDC
Associated Bank grants $26,500 to Nicolet GRID program, OCEDC
The OCEDC grant will create and seed a COVID-19 relief fund for locally owned businesses, including restaurants, that rely on seasonal surges that did not happen this year, according to Brad Kowieski, vice president of commercial lending, northern market.
"The hospitality industry is one of the largest economic development forces in this geography," Kowieski said. "The ASB grant will help businesses with annual revenue under $1M."
The grants will also support rural businesses as they adapt to a virtual sales platform by helping them transition from the paper or folder type menus to a contactless system for food ordering and delivering, according to Jeff Verdoorn, director, OCEDC.
"QR-Code Technology exists today that could leverage a customer's own smartphone to read menus and even place orders, greatly improving both customer and staff safety," Verdoorn said.
"There are all kinds of things that are in it to help the owner of the restaurant, as well, " he added.
The program will start with a pilot program of 5-10 businesses.
"We want dedicated individuals who are committed to this change," Verdoorn said.
Nicolet is taking a two-step approach in using the grant money, according to Toni Van Doren, the college's business solutions coordinator. The college will focus on helping current businesses convert to the changed economy created as a result of the COVID pandemic, she said.
Between fall and spring, Nicolet will offer five virtual training/technical assistance opportunities to assist local small businesses in recovering from the ongoing economic crisis and grow their businesses.
According to Van Doren, this will include helping move their businesses online, manage a remote workforce and use innovation to combat current challenges.
The grant will also help in offering five virtual training/technical assistance opportunities to assist new businesses/start-ups, she added. This will include instruction on creative funding for start-ups, ideation to creation, resource navigation, working remotely/on-line business, and mentor match-up.
"(This will) serve up to 25 small business owners and entrepreneurs in the initial year, helping to maintain or create up to 100 jobs in the region," she said.
Over the long-term, Nicolet hopes the GRID program can recruit area specialists in finance, accounting, and business planning to serve as mentors and pilot the mentor match-up entrepreneurship program and incorporate their expertise in training.
The program will be open to 25 small business owners and entrepreneurs in the first year, while helping to maintain or create up to 100 jobs in the region.
Another long-term goal is to scale training to teach entrepreneurs networking and resource navigation through our partner network to serve our seven-county region with a mix of virtual and in-person offerings, Van Doren explained.
"The GRID will provide training and support to meet entrepreneurs at whatever stage in the business cycle they may be in when they need it and in the format that works best for them," she said.
Jamie Taylor may be reached via email at jamie@rivernews online.com.
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