Fairfax County officials will meet tomorrow (March 16) to discuss two programs to help small businesses recover from the pandemic.
The “Pivot Grant” consists of small amounts of money that are made available to a larger group of companies to support them in their further business activities. The intended effect is to “mitigate” store closures as operating costs cannot be afforded.
The proposed funding for these grants is approximately $ 13.5 million.
According to the documents before the meeting, the hoped-for schedule is to have the grant approved by the board of directors in April or May, to open applications in May or June, and to actually award grants to companies in June or July.
The Thrive Program provides technical support and advice to entrepreneurs and businesses trying to grow.
In contrast to individual companies, providers would apply for this and support companies. The suggested amount to be made available to each provider is $ 500,000. This program could start in summer and run all year round.
According to research, three industries with the highest job losses in the county through December – unsurprisingly and similar to September – are hospitality and hospitality, healthcare and retail. They account for more than 50% of the jobs lost in Fairfax County.
A recent survey also found that 93% of small businesses would use additional funds for operating expenses and rental / mortgage support.
Research also unveiled in November showing that the largest economic impact of the pandemic was in the Falls Church, Annandale and Baileys Crossroads areas.
These areas also have the highest concentration of COVID-19 cases in the district and the highest proportion of color communities.
A number of specific recommendations and suggestions are also discussed. They include:
- Launched a marketing campaign to buy local products, focusing on goods made in the county and in minority owned businesses.
- Establish an online approval process aimed at making changes to keep businesses open.
- Advocating state laws that prioritize local purchasing.
- Expanding access to affordable childcare, housing and the Internet for workers and their families.
- Strengthening the work and training programs by piloting a job center in the neighborhood.
- Use the county to hire local workers for pandemic recovery efforts.
- Starting a “Local Business Marketplace Pilot”
These discussions will take place at the public meeting of the Business Initiative Committee of the Fairfax County Board of Directors. It starts at 9:30 a.m. and is streamed online.