Small businesses are the heart and soul of Seattle's economy, but they face many challenges in today's economic climate. From rising costs to public safety concerns, these businesses need support to survive and thrive. The City of Seattle's Office of Economic Development (OED) is tasked with confronting these issues head-on and helping provide solutions for distressed small business owners. 

In a recent interview for her TV show Back2Besa on FOX13 Seattle, host Besa Gordon caught up with Markham McIntyre, the Director at  OED. He highlighted some of the programs and resources available to small business owners in Seattle.

Immediate Business Help

The OED's Accounting Business Consulting (ABC) program offers 10 free hours of consulting to businesses. "It's been really successful," says McIntyre, "and helped businesses identify what their problem is and then help come up with solutions."

Access to Capital

Recognizing the high cost of borrowing, the OED's Capital Access Program (CAP) helps businesses secure loans with lower interest rates. "We're trying to make that money cheaper for businesses while also trying to make it easier for them to build a relationship with a lender," McIntyre explains.

Business Community Ownership Fund

To address the issue of high rents and displacement, the OED has created a Business Community Ownership Fund. This innovative program helps businesses own their space, providing stability and predictability in their real estate costs.

Storefront Repair Fund

Public safety and property damage are also concerns for small businesses. The OED's Storefront Repair Fund provides financial assistance to businesses that have experienced property damage. "We want to be there to try to help and get them back to baseline," says McIntyre.

Commercial Space Consultants and Tenant Improvement Fund

The OED also offers commercial space consultants to help businesses negotiate leases and resolve landlord issues. Additionally, the Tenant Improvement Program can provide grants for HVAC work and other improvements.

A Commitment to Supporting Small Businesses

According to Director McIntyre, OED is committed to listening to the needs of small businesses and developing programs to meet those needs. "We're always listening," says McIntyre. "So if you have issues, we'd love to hear from you."

Key Takeaways

• The City of Seattle offers a range of programs and resources to support small businesses.

• These programs address a variety of needs, including access to capital, property ownership, and storefront repair.

• The OED is committed to listening to the needs of small businesses and developing programs to meet those needs.

Small business owners are encouraged to contact OED to learn more about these programs and resources. https://www.seattle.gov/economic-development