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The Collegian

The Student News Site of Tarrant County College

The Collegian

The Student News Site of Tarrant County College

The Collegian

Grant offers local entrepreneurs funding

Daniilvolkov%2FAdobe+Stock%0AThe+Everyday+Entreprenuer+Venture+Fund+seeks+to+provide+opportunities+for+funding+and+education+to+budding+small+business+owners+in+Tarrant+County.
Daniilvolkov/Adobe Stock The Everyday Entreprenuer Venture Fund seeks to provide opportunities for funding and education to budding small business owners in Tarrant County.

TCC is the only community college in Texas to be a part of the recipients to receive funding

Alyson Oliver
campus editor

Daniilvolkov/Adobe Stock
The Everyday Entreprenuer Venture Fund seeks to provide opportunities for funding and education to budding small business owners in Tarrant County.

TCC invites current and aspiring small business owners to apply for the Everyday Entrepreneur Venture Fund and potentially receive up to $8,000.

Students are eligible to apply, as are alumni and other Tarrant County residents. The program is meant to assist entrepreneurs by giving them resources they wouldn’t have access to otherwise, with a specific focus on aiding minorities.

“It is exactly what it says it is,” said Shannon Bryant, campus executive vice president of corporate solutions and economic development. “It’s for the everyday entrepreneur.”

Stewart and Chip Weismiller created the fund about five years ago, NW business and entrepreneurship instructor Lourdes Ramboa said. Later, they worked with the National Association for Community College Entrepreneurship to extend the fund to community colleges that are providing entrepreneurship programs.

During phase one in 2017, the four participating community colleges received a total of $1 million in funding between them, Ramboa said.

This will be TCC’s first time participating in the program. It is the only community college in Texas to be a part of phase two.

Participants need to present clear, data-backed explanations as to why their business idea is likely to succeed, Ramboa said. They need to show an understanding of several components such as their target customer base, their industry and competition, the financial aspects of their business and their marketing strategy.

“It’s less about the pitch and more about an understanding and knowledge of what their business opportunity is all about,” she said.

Furthermore, participants need to focus on the value of their business, Bryant said. It is important that they have a clear idea of the positive difference their business is expected to make, in the lives of individuals and in the community as a whole.

Small businesses are important in this respect. They have the power to greatly benefit their communities, Ramboa and Bryant said. They are vital when it comes to economic growth, and they consistently generate new job opportunities. They also create local diversity, which is needed in order to see communities thrive.

Additionally, small businesses are able to serve the people around them on a more personal level. They can directly observe the needs of people within their community and then innovate in order to meet those needs, Ramboa said. On a larger scale, however, those needs might be overlooked.

Ramboa also said business ownership takes strength. Aspiring entrepreneurs need to be prepared to make mistakes, but most importantly, to learn from their shortcomings in order to better adapt in the future.

“It’s not about mistakes,“but rather about lessons learned,” Bryant said.

Those who are awarded a grant will receive educational opportunities as well as financial support, she said. They will have the chance to attend a program spanning almost two years with workshops pertaining not only to business ownership in general, but to their business in specific and the niche it falls into. TCC will continue accepting applications through Nov. 13.

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