What is Power Up Spartanburg?
Power Up Spartanburg, a Spartanburg County and OneSpartanburg, Inc. initiative, aims to transform Spartanburg County into the top place in the U.S. to start, run, and grow a small business.
Power Up Spartanburg has engaged with 3,033 current and potential small business-owners, and the initiative has led to the creation of 70 new businesses. Based on self-reporting, participants have seen an average revenue growth of $198,000 per business, employment growth of 283 total full-time or contract workers, and a total value of $15.9 million in secured contracts.
What is the Small Business Impact Grant?
The Power Up Spartanburg Small Business Impact Grant, made possible by BMW Manufacturing Co., will be administered by the OneSpartanburg, Inc. Foundation in partnership with Carolina Foothills Federal Credit Union.
The grant awards aim to provide financial support to Spartanburg County entrepreneurs and small businesses looking to:
Strengthen their operations and capacity
Build foundational systems and infrastructure for sustainable growth
Access capital to overcome barriers to scaling like equipment, systems capacity, etc.
Prepare for new opportunities
The total value of grants awarded will be dependent on applicants’ needs and viability. Applications open on Nov. 11 and run through Dec. 16.
*Note: being a grant recipient does not guarantee any supplier relationship or contracting preference with BMW Manufacturing Co.
Who is eligible for the Grant?
Grant-eligible businesses must:
Be established in Spartanburg County
Offer a B2B product or service
Agree to participate in Power Up Spartanburg’s Securing Contracts initiative
Along with financial support, the Small Business Impact Grant comes with support resources like access to technical assistance, mentoring, contracting resources, and business connections through Power Up’s Securing Contracts initiative.
“This grant represents a strategic partnership between BMW and Power Up Spartanburg, all to empower local entrepreneurs to become stronger business owners with greater confidence and support throughout our community.” — Jay Jenkins, OneSpartanburg, Inc. Vice President of Small Business Development
“When we invest in entrepreneurs, we invest in Spartanburg County. The economic well-being of Spartanburg County depends on both large employers like BMW and thriving small businesses, so to see the two come together in the form of a grant that can power up a small business shows what the initiative is all about.” —OneSpartanburg, Inc. President & CEO Allen Smith
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