The City of Los Angeles Economic & Workforce Development Department (EWDD) has announced the approval of its first 100 legacy businesses into the Legacy Business Program, designed to underscore the city’s commitment to sustaining small businesses.
The program is supporting businesses that have been operational for 20+ years. The businesses in the program are eligible for several benefits, including technical assistance, promotional support and access to capital and grants. The Legacy Business Program aims to support the visibility, sustainability, and patronage of small businesses that contribute to the deep cultural and historical identity of Los Angeles.
Of the 100+ businesses that have been approved, 73 percent are minority-owned, 53 percent are women-owned, and 37 percent have been passed down through generations. Benefits of the program include combating rising rents, gentrification, providing technical, financial, and marketing assistance and highlighting and celebrating long-standing businesses. Technical assistance aims to find resources and support for any operational and or technical issues that may arise and assistance with social media and websites. The EWDD has a budget of $4 million dollars set aside to provide designated businesses with grants. A portal will be opened for designated “Legacy Businesses” to apply for grants.
The financial assistance in the program allows for chosen businesses to access capital and connections to a wide array of economic opportunities, additionally allowing for businesses to apply for up to $20,000 in grants. Marketing assistance is also offered, providing promotional support, e-commerce, selling goods and services online, optimize and increase the digital footprint, and to increase visibility and exposure to potential customers. Also, assistance navigating government processes, programs and contracts is readily available.
“The induction of these 100 businesses into the Legacy Business Program marks a significant step forward in our efforts to preserve the unique culture and economic vitality of our communities,” said Carolyn Hull, general manager of the EWDD. “These businesses are the bedrock of our neighborhoods; through this program, we ensure they continue to be a vibrant part of our city’s future.”
Applications remain open for the Legacy Business Program, however grants are limited. For more details, visit www.ewdd.lacity.gov
