Minneapolis boasts a vibrant entrepreneurial spirit, supported by a range of resources designed to help small businesses thrive. From financial assistance to technical support, local initiatives are making a significant impact on the city’s economic landscape.
Key Resources for Small Businesses
Small Business Resiliency Fund
In response to challenges faced by local businesses, the City of Minneapolis established the $7 million Small Business Resiliency Fund. This fund offers various forms of support, including:
- License fee relief for food and beverage establishments.
- Free event permits to encourage community engagement.
- Consulting services to aid in business planning and recovery.
- Marketing and activation funding to boost visibility and foot traffic.
- Grants for cultural mall operators to enhance shared spaces.
Business Technical Assistance Program (BTAP)
BTAP connects small businesses with free consulting services tailored to their unique needs. Entrepreneurs can receive guidance on various aspects, such as:
- Lease and contract negotiations.
- Marketing strategies.
- Business planning and development.
By partnering with local organizations, BTAP ensures that businesses have access to the expertise necessary for growth and sustainability.
Northside Economic Opportunity Network (NEON)
NEON focuses on building wealth for low-to-moderate income entrepreneurs in North Minneapolis. Their services include:
- Free technical support and consulting.
- Training workshops to enhance entrepreneurial knowledge.
- Co-working spaces to foster collaboration and networking.
In 2025, NEON disbursed $2.8 million in loans, provided over 6,000 hours of technical assistance, and supported the launch of 137 new businesses.
Success Stories: Local Entrepreneurs Making an Impact
Lovely’s Sewing & Arts Collective
Keiona Cook, once an employee at a skyway shoe store, realized her dream by opening Lovely’s Sewing & Arts Collective in the IDS Center. Her business offers creative services like sewing socials and youth camps, contributing to the revitalization of downtown Minneapolis.
Still Grind Coffee
Gerry Exom opened Still Grind Coffee in the LaSalle Plaza complex, filling a previously vacant retail space in the skyway. His independent coffee shop is part of a broader trend of local businesses bringing new energy to downtown areas.
Conclusion
The combination of robust support programs and the determination of local entrepreneurs is fostering a dynamic and resilient small business community in Minneapolis. By leveraging available resources and learning from success stories, aspiring business owners can navigate challenges and contribute to the city’s economic vitality.