SFCDC Celebrates National Small Business Week

April 30, 2017 – May 5, 2017 was National Small Business Week, designated by the Small Business Administration. SFCDC’s economic development committee and community partners celebrated the week and organizations that grow small businesses. On May 4, SFCDC’s economic development committee hosted a “Leaders and Lenders” panel discussion which was followed by “Conversations with TD Bank” at Venture Café Miami. The evening highlighted the important role micro and small businesses have on our local Miami-Dade economy.

 A few Tips

Technical Assistance: Support to micro and small businesses should incorporate technical assistance. Technical assistance providers can prepare businesses for conventional financing, by assessing the business and helping the owner understand areas of operations and management that need to be strengthened. The nonprofit technical assistant providers such as Partners for Self -Employment, Prospera and Tools for Change regularly schedule technical assistance training, with accessible evening hours. They also provide one-on-one assistance.

Alternative Financing: Access to capital is critical. Small and micro-enterprises need to know there are different types of capital a business can access.  For example, community development financial institutions provide alternative types of financing. Partners for Self-Employment is a Community Development Financial Institution (CDFI). There are also statewide organizations such as Neighborhood Lending Partners  that provide small business loans.

Local Initiatives: Entities such as the Miami-Dade Beacon Council are working with industry partners to create a climate in which small businesses can compete and participate in the local market more successfully. An area of focus for the Beacon Council has been trade and logistics, which is one of the County’s targeted industries. Urban Philanthropies is another local non-profit entity working to address unmet needs, including loans to small businesses and non-profits that have pending receivables from government contracts.

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Did You Know?

Miami-Dade is a community of small businesses. These  businesses provide professional services. Some are family-owned, while others are part of Miami’s start-up community.

Among Miami-Dade businesses, 80% are businesses with 4 or fewer employees.

In 2016, the Miami Metro area ranked #2 in start-up activity according to the 2016 Kauffman Index report.

In 2012, Miami-Dade was home to the second largest number of black-owned businesses in Florida and ranked  seventh among all counties in the United States. Among these businesses, 96% had no employees and the other 4% employed an average of 5.8 persons per firm.

SFCDC supports investing in micro-enterprises and small businesses by providing technical assistance and resources that assist low and moderate-income business owners. When these businesses grow, incomes grow, jobs are created, and neighborhoods thrive. Nonprofit small business developers play a vital role in making this happen. Here are a few.

79th Street Neighborhood Initiative

ACCION

ASSETS Small Business Solutions

Carrie P. Meek Entrepreneurial Education Center at Miami-Dade College

Dynamic Community Development Corporation

EcoTech Visions

FIU Small Business Development Center

Greater Miami Business Opportunity Fund/VEDC

Prospera (formerly HBIF) 

Miami Bayside Foundation,

Miami-Dade Chamber of Commerce

Partners for Self Employment

South Florida Puerto Rican Chamber of Commerce

SCORE

Our Micro Lending

Federal Housing Policy – Let Your Voice Be Heard

After the President’s proposed budget was released, several people asked – How can I get involved and what can I do to support affordable housing and community development?

Affordable housing and community development needs your support and voice, now more than ever. Critical federal resources may be significantly reduced or completely eliminated under the current proposal. The $6.2 billion (13.2% reduction) proposed cut to HUD in FY 2018 would eliminate the Community Development Block Grant (CDBG), HOME Investment Partnership (HOME), Section 4 Capacity Building for Affordable Housing and Community Development and the Self-Help Homeownership Opportunity Program. Also proposed for elimination is the Community Development Financial Institutions (CDFI) Fund as well as agencies such as NeighborWorks America, United States Interagency Council on Homelessness, and the Low Income Home Energy Assistance Program (LIHEAP).

In Miami-Dade, these cuts would further reduce the ability to develop or preserve affordable housing, assist small businesses and microenterprises, serve children and the elderly on fixed incomes, make infrastructure improvements and more. There are 7 entitlement jurisdictions that receive a direct allocation of CDBG funds from the federal government, (Miami-Dade County, Miami, Miami Beach, Miami Gardens, North Miami, Hialeah, Homestead). In the 2016 program year, their combined CDBG allocation of funding totaled over $21 million – an amount that already isn’t enough.

Behind these numbers are actual stories of people and communities being helped. These stories must be shared.

Member organization, Enterprise Community Partners, has provided suggestions and guidance on how to stay informed and take action on federal housing policy.

  1. Call, write or (meet) with your Members of Congress. See Enterprise’s blog for contact information. You can contact your federal Senators and Representatives via their contact pages as well. Not sure who your Rep is? Find your Representative here.
  2. Write a letter to your local paper or use social media to advocate for federal investments in housing and community development. Find sample articles and tweets from CHCDF.
  3. Get involved with the #CDFIsInvest Campaign. See Enterprise’s blog for more details.
  4. Join the ACTION Campaign, a coalition of over 2,000 national, state, and local organizations and businesses working to address the nation’s severe shortage of affordable rental housing by protecting, expanding and strengthening the Low-Income Housing Tax Credit.

We will keep updating this blog with more information. Please continue to voice your support for investing in affordable housing and community development.

We encourage you to join or renew your membership in SFCDC, stay connected, and meet organizations and people in other sectors that are also working to improve the quality of life for the residents of Miami-Dade. Let’s work together to save these programs and increase funding.

Report: Foundation Support to CED Activity

Local community and economic development (CED) depends on a combination of public and private funding. In recent years, foundation grants have become an important source of funding for initiatives to develop the local economy through the pursuit of better-paying jobs, infrastructure to support revitalization, affordable housing, or improved systems for education or health care. .

The Federal Reserve Banks of Philadelphia and Atlanta recently investigated the way in which foundation grants to support CED activities were distributed across 366 metropolitan areas in the United States. The research relied on data provided by the Foundation Center that captured grants of at least $10,000 made by the 1,000 largest foundations between 2008 and 2013.

There are an estimated 1,714 total nonprofits focused on community and economic development in the Miami-Fort Lauderdale-Pompano Beach area.To view the interactive report and see how the Miami metro compares to other metros, visit: Here

2016 In Review

South Florida Community Development Coalition would like to thank our members and supporters in 2016 to advance opportunities to create affordable housing and economic opportunity in Miami-Dade County: We look forward to building on our 2016 activity to achieve great outcomes in 2017.

Capacity Building & Convening

Training

  • January 9, 2016: Tools You Can Use: Florida Affordable Housing Finance Programs Overview (Held in partnership with Florida Housing Coalition and Federal Home Loan Bank)
  • January 19, 2016: Develop Over Lunch – Building Nonprofit Capacity (Held in partnership with Legal Services of Greater Miami)
  • March 28, 2016: Public Health and Community Development Convening (Held in partnership with the Health Foundation of South Florida)
  • April 18, 2016: Developing a High Performing Board
  • May 3, 2016: Positioning Your Brand for Success: Doing More with Your Nonprofit Marketing Resources (Held in partnership with Florida Community Loan Fund)
  • May 24 2016: Brownfields: Making a Difference in Your Communities (Held in partnership with the Florida Brownfields Association)
  • June 29 2016: Rapid Rehousing (Held in partnership with Florida Housing Coalition)
  • July 20 2016: Homeownership Roundtable
  • October 3, 2016: Team Miami  Convening Regarding Lessons Learned from Detroit (Held in Conjunction with Catalyst Miami and Team Miami)
  • October 17, 2016: Effectively Planning for Affordable Housing & Develop Over Lunch Session (Held in Conjunction with American Planning Association – Gold Coast Chapter)

Policy

SFCDC received an appointed seat to the Miami-Dade Affordable Housing Trust Fund Board of Trustees in 2016 to represent Miami-Dade’s community development sector.

Working alongside People Acting for Community (Miami-PACT) and Miami Homes for All and many other organizations and members of the community, SFCDC advocated for the creation of the Affordable Housing Trust Fund Revolving Loan Fund.

To learn more about SFCDC’s work, please check out the Presentation from our December 7, 2016 Annual Meeting.

 

SFCDC Receives Capacity Building Grant

November 14, 2016 –  South Florida Community Development Coalition (SFCDC) receives capacity building grant from the Aspen Institute and JPMorgan Chase. Organizations selected work to strengthen the capacity and effectiveness of nonprofits in their community.  Catalyst Miami, a member and partner of SFCDC, was also named as a grant recipient. A total of 10 awards, from across the country were made.

Press Release from Aspen Institute.

Photo: 2017 Grant Recipientsaspenjpmc