Posted on 03/24/21 by Tara Palacios
“Disruption creates space for entrepreneurs.” – Kevin Sneader and Shubham Singhal, McKinsey & Company
The health pandemic fundamentally changed the way we do business. Since 2020, we’ve entered a virtual world where business is conducted online and virtually. According to insightful article by McKinsey & Company, our “new normal" is changing how we do business in the short and long-term. In 2021, entrepreneurship numbers are up, and the need for technology is high. Access to capital is paramount to ensure an entrepreneur can access the tools they need to compete.
How do we blend the increase in small business formation and the steady need for access to capital to new and existing businesses?
Arlington Economic Development (AED) is committed to providing the professional tools small businesses need to compete in our “new normal.” ReLaunch is a new initiative sponsored by BizLaunch Arlington’s Small Business and Entrepreneurial Assistance Network to help newly launched and existing businesses adjust to the “new normal.” What is the cost to participate? It is a free tool underwritten by AED.
The program is divided into three key areas: ReVitalize (access to complimentary professional business consultants), ReNew (access to the latest tech to get online and be discovered — also complimentary services) and ReBuild (all the latest info on grants, loans and resources to help small business fight the effects of the pandemic). We identified these key areas in a recent survey administered by AED, which showed most businesses need access to capital and would spend the cash on technology, consulting and legal assistance. Hence, ReLaunch was designed to meet the needs of Arlington’s small business ecosystem and promote growth, despite the effects of the pandemic.
AED will be accepting rolling applications from eligible Arlington-based businesses from now through Dec. 10, 2021. AED will underwrite costs to build either a Web site or eCommerce tool as well as to and work directly with a consultant. Businesses will need to pay a small fee after Dec. 31, 2021 to permanently maintain their website and eCommerce tool; however, Arlington County underwrites the construction of the tools.
If you are an eligible small business located in Arlington, Virginia we encourage you to apply for ReLaunch today. All you need to decide is what service you’d like to receive.