Norfolk retail project nabs SBA funding
Two Hampton Roads business organizations will share a $100,000 grant to create a training program for small retailers in the region.
The Small Business Development Center of Hampton Roads and the Retail Alliance have received a 2012 Portable Assistance grant from the U.S. Small Business Administration.
The SBDC announced the award on Sept. 13. A total of 10 winners received funding nationwide.
The SBA's Portable Assistance Program funds original products, programs or services that can be duplicated in other parts of the country to help boost small business success.
The SBDC and the Retail Alliance will use the grant to establish a regional Retail Institute, which will include on-site classes and online training in business management and other areas.
The two organizations are developing and testing the program over the next year.
"With fiscal uncertainty facing this region, we want to take proactive steps to better prepare the retail community," SBDC Executive Director Jim Carroll said in a press statement. "By partnering with the Retail Alliance, we have access to a wide range of information and experts who are key to making this program a reality."