New Wayne County fund will distribute $54 million to little businesses

A new $54 million fund named the Wayne County Compact Business enterprise Hub has released, and it will offer aid to new and present organizations with a concentrate on complex assistance.

The fund is a collaboration involving the Wayne County Executive’s Place of work and New Overall economy Initiative. The announcement was made Wednesday at the Detroit Regional Chamber’s Mackinac Coverage Conference.

The system will have a concentration on businesses in Wayne County that have 50 staff members or less. It will exclusively target on minority- or women of all ages-owned companies, and micro enterprises with 10 or fewer employees. 

“The New Financial system of Southeast Michigan need to be inclusive, it must assistance tiny companies, which are often missed in some of these more substantial applications,” said Wafa Dinaro, government director of the New Economic climate Initiative, in the information conference. “Modern announcement is definitely a step in that path. This program is designed to replicate the work that NEI has carried out in the city of Detroit.”