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n e w h a v e n b i z . c o m | A p r i l 2 0 2 2 | n e w h a v e n B I Z 13 New Haven Chamber of Commerce, who said mentorship is key for scaling a business and forming key partnerships. e KNOWNpreneurs program is taught by minorities who understand the barriers and can empathize with minority businesses, Salas-Romer said. Oen, its graduates end up teaching and mentoring others. KNOWN regularly has networking with capital providers and area leaders to build relationships. Lack of proper business education and mentorship can lead to minority businesses failing to grow, Salas-Romer said. KNOWN also helps with marketing, networking, social media and consulting. Sizing up market Tea Montgomery, who owns reads by Tea, a New Haven clothing design studio that sells wearable art, says he has been helped by area organizations, which assisted him in finding key connections. Montgomery never initially intended to start a business. He started making wearable art for himself, then people saw his creations and asked for custom- made ones. "Discovering what the business was actually becoming and how to navigate with no prior experience or blueprint was the first challenge," Montgomery said. Some of his challenges have been figuring out his business' market and how to market, as well as making necessary connections, he said. He credits Collab, a New Haven- based entrepreneurship accelerator, with being the first to support him. "Not only did it introduce me to new networks and resources, but it had me thinking about my business in more in- depth ways than I would have alone," he said. It got him to think about his pitch, values, customers, funding and legal matters. He then joined KNOWNpreneurs for more of the same assistance. He took Small Business Development Center courses and connected with a mentor, and took courses with Liberty Bank related to finances. He recently joined the Greater New Haven Chamber of Commerce to take advantage of the resources it provides and to expand his network. Key program connections e Greater New Haven Chamber partners with other organizations involved in helping minority-owned businesses. rough the chamber's newsletter, it highlights diverse businesses, whether they are a chamber member or not, Phillips said. e chamber also has created a "diverse business enterprises" directory on its website, so people can go to one location to find out how to support minority-owned businesses. "We offer free chamber membership and work with them during accelerator programs for services they might need," Phillips said. e Connecticut Community Outreach and Revitalization Program (ConnCORP) has its Economic Justice Fund, which provides support to Black- owned businesses with grants of up to $10,000. Comcast has its "Comcast RISE" program. Business owners can secure funding for new technology or for a branding and advertising consultation. Paul Savas, vice president of Comcast Business for the Western New England Region, said small businesses owned by people of color or women have been some of the hardest hit by the COVID-19 pandemic. According to the National Bureau of Economic Research, between February and April 2020, the number of active Black-owned businesses declined by 41%, Latinx-owned businesses declined by 32%, and Asian-owned businesses dropped by 25%, versus just 21% for the general population, he said. While initially geared toward minority-owned businesses, Comcast recently expanded the program in 2022 to include women-owned businesses. So far, there have been 30 recipients in the company's Western New England Region. "To not have a technology expense, or to get well-needed help on branding yourself, has been really well-received," Savas said. Inesta Belardo, CEO and owner of B&A Benefits Solutions in Waterbury, which helps clients find health insurance plans, has been among the beneficiaries. Belardo said she applied for the grant on a whim, and it provided her with visibility and tools to help her business grow, including new, upgraded technology and equipment. KeyBank, meanwhile, has partnered with the Eastern Area of e Links Inc. to provide a customized Key4Women Business Education Series and micro- grants to minority women small business owners and entrepreneurs. e bank's financial advisors have provided workshops to help businesswomen with their financial needs. KeyBank Foundation is providing $25,000 for micro-grants to participants who successfully complete the program. In spite of the programs and services available to help, entrepreneurs say more would be better. "ere is always room for more programs," Bowens-Mercado said. "Minority businesses are growing, so that means more resources will be needed." n The Black Business Alliance storefront in the Connecticut Post Mall. PHOTO | LIESE KLEIN Jesse Phillips Member FDIC Equal Housing Lender Over 165 Years Suppor ting Local Businesses Local businesses are more than just accounts. They're what make our communities great places to live. And at Newtown Savings Bank, we have what it takes to help your business grow. We're neighbors helping neighbors— that's the Power of Local. See how we can help your business: Visit NSBonline.com or contact Mark Candido at 203.364.2987. Paige & Ted Vibrant Health NSB_Community_Banking_10x6.75_0322.indd 1 NSB_Community_Banking_10x6.75_0322.indd 1 3/28/22 1:43 PM 3/28/22 1:43 PM

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