Portland Small Business Office aims to support over 500 local enterprises

In a recent Portland City Council work session, the focus turned to the vital role of small businesses in the city’s economy and the support they require to thrive. Council members engaged in a spirited discussion about the newly established Office of Small Business, emphasizing the need for effective measurement of its success and the importance of providing tangible support to local entrepreneurs.

Councilor Ryan highlighted the enthusiasm of small business representatives at a recent Venture Portland event, noting that many business owners feel overwhelmed by the city's processes and lack adequate support. He urged the Office of Small Business to develop clear performance metrics to assess its impact, particularly as it aims to assist over 500 small businesses in the coming year. The office has already made strides, helping resolve significant utility bills for struggling businesses even before its official launch.

The conversation also touched on the ongoing challenges faced by small businesses, particularly in accessing financial assistance. Councilor Ryan pointed out the persistent demand for repair and restore grants, which have been critical for businesses recovering from various hardships. He expressed concern that funds for these grants were exhausted by early March, leaving many businesses without support for months. Amy Nagy, a development manager, confirmed that the average grant request is around $6,000, but the program needs a minimum of $500,000 annually to be effective.

The councilors acknowledged the broader economic implications of supporting small businesses, with Councilor Smith proposing an amendment to increase funding for small business initiatives by reallocating $5 million from the Community Development Block Grant. This funding would prioritize underserved communities and minority-owned businesses, aiming to bolster Portland's small business ecosystem and stimulate economic growth.

As discussions progressed, the need for a more robust strategy to attract and support green jobs and makerspaces in Portland's industrial areas was also raised. Councilor Ryan emphasized the importance of promoting these opportunities, which could provide high-paying jobs without requiring four-year degrees. The councilors agreed that more focus is needed on leveraging Portland's industrial assets to foster economic development.

The meeting underscored the city’s commitment to enhancing support for small businesses, recognizing their critical role in the community's economic vitality. As the council prepares to finalize the budget, the emphasis remains on ensuring that local entrepreneurs receive the resources they need to succeed and contribute to Portland's vibrant economy.