GCP releases online tool to assist businesses with emergency funds and other economic resources

William Arsn

The Greater Cleveland Partnership launched its Northeast Ohio Business Growth Compass, an online resource designed to assist business owners and entrepreneurs with navigating the world of economic development programs and resources.

GCP said it developed the resource to help businesses evaluate their needs and to help make connections to resource providers.

Any Northeast Ohio business owner can use the compass and can select from multiple types of assistance, including access to capital, business plan writing, personal financial health, mentoring and networking.

“The Business Growth Compass represents a critical milestone in GCP’s efforts to reimagine technical assistance and convene tri-sector collaboration for economic growth,” said Megan Kim, executive director of the Council of Smaller Enterprises (COSE), which is GCP’s small business division.

Compass partners and resources include COSE, Cleveland Neighborhood Progress, the Economic and Community Development Institute, the Hispanic Business Center, JumpStart Inc., MAGNET, the Ohio Minority Supplier Development Council, the Ohio Aerospace Institute, the Presidents’ Council, and the Urban League of Greater Cleveland.

Compass was developed by GCP employing the input of dozens of stakeholders, including the Business Growth Collaborative, a group of 11 organizations committed to the growth of minority-owned businesses in Cleveland and the surrounding neighborhoods.

“Through GCP Equity and Inclusion, we know that the challenges of minority entrepreneurs are unique. For example, numerous reports have shown that the COVID-19 crisis has disproportionately affected minority-owned small businesses,” said Brian Hall, senior vice president of GCP’s Equity and Inclusion Division, in a statement. He added, “The Compass was developed to help these entrepreneurs access the resources and support they need — in many cases specific to minority owned businesses — to overcome and succeed.”

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