Wisconsin has been awarded $1.9 million through the State Small Business Credit Initiative and the funds will be used legal, accounting and financial support for up to 1,150 small businesses.
“Small businesses are the hearts of our communities and huge drivers for local economies, employing about half of Wisconsin workers and bringing unique goods and services to our communities, and they are more likely to hire locally, buy supplies locally, and get back to their local communities, too,” said Gov. Tony Evers. “This support from our federal partners will go a long way in building upon our work to help make sure our small businesses have every opportunity and resource to succeed and thrive.”
Earlier this year, Vvers and U.S. Sen. Tamy Baldwin announced Wisconsin would receive nearly $80 million in SSBCI funding to support entrepreneurs and small businesses throughout the state.
“In Wisconsin, our small businesses are the backbone of our local economies and the fabric of our communities,” said U.S. Sen. Baldwin. “I am proud to have helped deliver federal funding to ensure that our small business owners and entrepreneurs have the tools they need to reach new customers, grow their businesses, and keep our economy strong.”
The $1.9 million announced today will be administered through the Wisconsin Department of Administration and d the Wisconsin Economic Development Corporation, which will award grants to the University of Wisconsin (UW)-Madison Law and Entrepreneurship Clinic and the UW Institute for Business and Entrepreneurship.
“Our clinic, which serves more than 300 entrepreneurs across the state each year, will be able to increase capacity and create new online legal resources,” said L&E Clinic Director Emily Buchholz. “Access to attorneys and on-demand technology is a powerful combination with a track record for long-term business success.”
The grant will enable the state to serve 1,150 small businesses through the 5-year program, including helping 120 new small businesses form through the development of an on-demand LLC formation tool.
