Southern Minnesota Initiative Foundation seeking applications for Prosperity Initiative
OWATONNA, MN, January 6, 2020 – Southern Minnesota Initiative Foundation (SMIF), in partnership with Region Nine Development Commission and Faribault Diversity Coalition, is recruiting minority-owned business owners for a new cohort of its Prosperity Initiative.
SMIF is seeking 15 businesses to participate in a 2020 Prosperity Initiative cohort. Past Prosperity Initiative graduates are also encouraged to apply to be part of this program again and take their business to a new level. The program provides directed, culturally sensitive programing, while also creating a unified and coordinated resource structure, informing partners of best practices and creating opportunities for minority populations to network and access the business community. All resources are free for participating businesses. Eligible participants include minorities, women, veterans, persons with disabilities and/or low-income business owners in SMIF’s 20-county region.
SMIF will be hosting a business plan workshop on January 15, 2020, from noon to 2:30 p.m. to help individuals create a business plan for their company. Those interested in the Prosperity Initiative are encouraged to attend so that you have a well-developed business plan to include in your application. If you are interested in attending, please RSVP to Jennifer Heien, Grants Coordinator, at jenniferh@smifoundation.org or (507) 214-7040 by January 13, 2020.
According to the US Census Bureau, 29% of Minnesota’s population in 2040 will be people of color, an increase from only 4% in 1980. In response to this rapid growth, the Prosperity Initiative was designed to provide education and business resources to minority business owners and educate resource partners on the barriers and opportunities these individuals encounter. Since 2016, the Prosperity Initiative program has provided 66 clients with one-on-one business coaching.
The Prosperity Initiative is made possible by generous funding from Wells Fargo and Dan and Angie Bastian.
Apply to the Prosperity Initiative 2020 cohort at www.smifoundation.org/prosperity by January 29, 2020. Contact Pam Bishop, Vice President of Economic Development at SMIF, at pamb@smifoundation.org or (507) 214-7013 with questions.
