AEO launched MainStreet RISE to support the millions of micro and Main Street businesses overlooked by the coronavirus economic relief packages. MainStreet RISE partners will help small business owners:
- Get cash infusions into the businesses
- Access to e-commerce solutions
- Get online accounting and mentoring to help SMBs understand their financial realities, get them loan-ready and prepared to connect with their coaches, and other resources that can bring them peace of mind in these challenging times.
Letter from the CEO
The coronavirus economic relief packages are overlooking millions of micro (less than five) and Main Street businesses (up to ten) employees—that represent more than 90 percent of all businesses in this country and 96% of all Black-owned businesses in this country. These are the flower shops, the local barber, the corner store, the computer fix-it shop on the corner, the café where you hold your 7:30 a.m. meetings before you ever get to the office, the graphic artist, the cobbler where you drop off the shoe with the broken strap and pick it up on your way home the same day. These small businesses are the heartbeat of our economy, they contribute to the employment of over 40 million individuals and generate over $4 trillion annually for the U. S. economy. Many of these businesses are owned by people of color, veterans, immigrants and others who operate in low and moderate-income communities.
As quickly as the crisis started so did the AEO effort to spring to action. We immediately mobilized a coalition of partners to bring a suite of subsidized technology solutions that could address the full spectrum of needs. Through a comprehensive package, SMBs will gain critical tools and resources to keep them existing and selling during and after the COVID-19 pandemic. This suite of solutions includes: cash infusions into the businesses, access to e-commerce solutions, online accounting and mentoring to help SMBs understand their financial realities, get them loan-ready and prepared to connect with their coaches, and other resources that can bring them peace of mind in these challenging times.
MainStreet RISE is an urgent national call-to-action to invest in our communities and nation by supporting Main Street businesses. To reiterate, this initiative aims to address four key areas in which the smallest of businesses need help in order to build resiliency during this COVID-19 pandemic recovery:
- Revenue opportunities and sources of capital
- Access to accounting and trusted loan guidance
- Ready sources of digital solutions and support to apply them
- A broad base of champions who rally to these businesses
President & CEO | AEO
What we’re doing for small businesses.
In response to COVID-19, we’ve created new ways to help small businesses stay open in this uncertain time.
AEO and its MainStreet RISE partners will help small business owners with: cash infusions; access to e-commerce solutions; accounting assistance; and mentoring.
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