by Tory S. Dahlhoff
Peoria entrepreneurs working to launch or grow their businesses immersed themselves in a pool of local economic developers Wednesday morning with the hopes of building relationships and finding new paths to accessing capital.
The Small Business and Entrepreneur Resource Expo — hosted by the Illinois Department of Commerce and Economic Opportunity (DCEO) at the Peoria Next Innovation Center — connected startup companies to over 25 organizations offering critical businesses resources in the Peoria area. These organizations offer free services, grants and low interest loans to businesses hoping to break the capital and capacity barriers to growing sustainable companies.
“I think it helps enrich the community,” said Anthony Rolando, senior account manager with the DCEO. “It brings a whole lot of people together. More important than anything is the interaction going on out there between people that have never met each other before.”
Around 50 Participants gathered around a conference room as representatives from the various organizations explained their operations and offerings. The speed-dating format cycled uninterrupted through every organization with each allowed three minutes to talk. Afterwards, everyone gathered in the main gallery where one-on-one conversations commenced and attendees collected further information on the various organizations and programs.
Raphael Rodolfo owns and operates Videogenique, a small video production company in North Peoria. He showed up primarily to meet new business owners to whom he could offer his services, but walked away with new resources on improving his own business model.
“I am always thinking about growing. I don’t know how to go about it, and it is scary,” said Rodolfo. “I am good at what I do, I have a passion for what I do, but I am not necessarily a good businessman.”
With that in mind, Rodolfo intends to follow up with the Turner Center for Entrepreneurship at Bradley University. The Turner Center offers free business planning and coaching for small companies such as Videogenique.
“Because I am out there every day sprinting, I don’t have that bird’s eye view of ‘where am I going?’ To have that service of mentoring and coaching [would be beneficial.]” Said Rodolfo. “I can’t believe they offer it for free.”
A variety of organizations showed up — from national organizations such as the USDA Rural Development team and the Small Business Administration to the local cooperative StartUp Peoria and the Black Business Alliance.
Denise Moore of the Black Business Alliance attended to share her organization’s latest economic development tool — The Minority Business Development Center. The center plans to offer traditional development services, but at non-traditional hours such as evenings and weekends. Moore hopes that this will allow more people to access critical technical assistance for their entrepreneurial endeavours without interfering with busy work and home life schedules.
Moore, also Peoria’s 1st District councilmember, said the organization plans to open the resource center on Southwest Adams Street.
“What this will do, I am hoping, is give minority business owners the opportunity to take back their community where a lot of retail and commercial businesses have left,” said Moore.
The Expo provides a crucial starting point for budding entrepreneurs. Events like this encourage economic growth in our city and allow for a more rich and diverse business community.
Browse the map below to find out more information on all of the organizations that attended.