Public Hearing: YES ☐ NO ☒ Department: Board of Commissioners - District 6
SUBJECT:
Title
Commission District(s): Commission District 6
Approve a $50.000.00 District 6 ARP appropriations to Prospera to support their DeKalb County Latino Entrepreneurship Program for Latino entrepreneurs affected by the economic downturn caused by the COVID-19. This funding will provide training, information and resources to start, sustain or grow their respective minority businesses in DeKalb County.
Body
Information Contact: Commissioner Edward “Ted” C, Terry
Phone Number: 404-371-4909
PURPOSE:
DeKalb County’s Latino population is 10.5%, which equals 81,500 Latinos in the county. U.S. Small Business Administration studies show that Latino entrepreneurs have the fastest growing entrepreneurial activity in the country and recent immigrants are twice as likely to start a new business as someone born in the U.S. because they quickly learn is their best chance to achieve the American Dream.
NEED/IMPACT:
Many immigrants who came to the U.S. from Latin America and the Caribbean struggle as economically disadvantaged. Despite their entrepreneurial spirit, their failure rate continues to be high due to poor financial decisions, language and cultural barriers, and not understanding how to do business in the United States.
Prospera’s DeKalb County Latino Entrepreneurship Program will offer bilingual, culturally sensitive services to aspiring and existing Latino small business owners in DeKalb County. Specially underserved communities, which unfortunately, are the ones that have systematically struggled getting the resources that they need.
FISCAL IMPACT:
This District 6 ARP appropriation of $50,000 will provide financial assistance to implement this important training program.
RECOMMENDATION:
Recommended Action
Approve the District 6 ARP appropriation, and the attached scope of work which will be used by Law for the MOA. This referenced appropriation and project has been vetted by Purchasing & Contracting and pre-approved as an emergency.