Karen Benson is someone many of us know quite well.  She is a Grand Haven Rotarian who worked for many years and our local Chamber of Commerce in the area of Economic Development.  It is interesting to know that she is back doing what she did so successfully for years – Economic Development.  This time, however, it is more of an educational process with a hands on component.  Karen is a business development officer with GROW.

 

                GROW stands for Grand Rapids Opportunities for Women, an organization that was founded in 1989. GROW has since expanded its reach to include men and women and is a 501(c)(3) organization.  There are numerous resources in our area to assist new businesses and those who wish to start one.  Karen and her team will interview candidates and either outline their curriculum within GROW or place them in the right niche resource within the economic development network.

 

                GROW provides entrepreneurial training as well as classes in small business growth and planning.  These classes include business basics such as strategy planning, business structure, and relationship building.  They also deal with marketing, branding, and financial awareness.

 

                Even if your business is somewhat established but has hit a speedbump, GROW has counseling services.  In 2017, GROW provided 1166 hours of classroom education and 615 hours of free business counseling.

 

                A very important part of GROW’s mission is its microloan program.  GROW is an approved lender through the Small Business Administration.  Capital is a critical ingredient in any business startup or expansion.  Without it, business cannot start, thrive or grow.  Microloans are offered in different categories depending on the speed of approval and the length.  The interest rates are above market and are highest when the loan is quickly awarded and for a shorter period; such as 12 to 36 months.

 

                In 2017, GROW loaned out $350,000.00; with the average loan size being $30,000.00.  To date, over $1.6 million in loans have been deployed.

 

                The client base is diverse and sizeable.  Statistics for 2017 show the creation of 62 new businesses and with it 92 jobs.  Our educational system is woefully inadequate when it comes to teaching business and economic principles.  These efforts are capitalistic in nature.  Those pushing a socialistic view of “business” are ideologically intolerant of these economic approaches, or dumb to a basic understanding of how business works.  As a result, enterprises and programs such as GROW fill the gap and help to prepare those who want to start a business, be their own boss, and create something that both supports them financially, and creates a pride of ownership and sense of accomplishment.  Thanks to those committed as Karen is, these opportunities are possible and available.

 

Raffle Losers:  Chris Burns; Mike Cotterall; Midge VerPlank; Kevin Green; and Michelle Hanks

 

Raffle Winner:  Rich Jones