Providing Help and Hope for Area Entrepreneurs

Allies for Community Business has made it their mission to cultivate small businesses that thrive in their communities. The organization formerly known as Accion Chicago, provides capital, coaching services, and other critical support to area entrepreneurs. In 2020 alone, they disbursed close to $400 million in grants and coached nearly 20,000 clients. 

We spoke with Rowan Richards, Director of Community Business, about his work and what he thinks every aspiring entrepreneur needs to know. 

People often have ideas for businesses but don’t know where to start. Do you help people who don’t have a fully developed business plan in place? 

I joined the team in 2017 to build a coaching program to accompany our existing lending program. The program assesses what stage the business is in and determines the best path to help them grow. We have specific milestones and activities built into each stage, so we’re walking with the business owner from idea to execution. 

We look to address the needs of business owners holistically, and we continue to seek different ways to support businesses at every stage

Have more businesses needed your services since the pandemic? 

Yes, in different ways. There was panic during the first six months. So, we essentially set up small business triage centers to address the immediate needs brought on by the pandemic. In addition to lending and coaching, we offered webinars, grant programs, and coached businesses on negotiating with their landlords. 

As things settled down, we shifted to helping current business owners assess their businesses and what they needed to offer their customers. There were also those looking to start a business for the first time after being laid off or deciding whether they wanted to go back into the workforce after working from home.

Do you think it’s a good time to start a new business when things are so uncertain?

I think it’s a fantastic time, assuming you have the right idea. Historically, some of the greatest inventions have come through the most challenging periods in history.

It’s an opportunity to get creative during chaos. And if you’re able to align your skills and resources with those opportunities, you can be successful. On the other hand, some businesses are offline that may never come back. So, if you’re behind the curve, some risk comes into play.

Certifications are important for women and minority-owned businesses, but the process can be overwhelming.

What’s your advice for people trying to navigate the process?

If you’re in construction, having your certifications is a plus. Developers have to work with subcontractors who are at least 50 percent minority or women-led. That gives many small business owners access to contracts they may not otherwise have.

Think about who you want to work with, then determine what certifications they require and what puts you in the best position to receive a contract. There’s no need to go after certifications that won’t lead to anything. We generally work with clients around the WMBE certifications offered through the city of Chicago. It might not be the only one you need, but it can help you capture opportunities with city agencies like CPS. If you want to work with the federal government, you should find out what they require. That way, you feel like you’re spending your time well. 

There’s a lot of paperwork. It’s not difficult, just time-consuming. And once you start, you have a 3-month window to complete it before the city deletes your application.

Once a business is up and running, what kinds of support do you provide to help businesses with marketing? 

We provide support around strategy and best practices to help businesses get started. We also help our clients by promoting their events through our platforms. 

Learn more about Allies for Community Business at a4cb.org.