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UMass iHub Event Thursday Discusses Access to Capital, Education and More

UMass iHub Event Thursday Discusses Access to Capital, Education and More
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Column: Expanding support for Salem's small businesses


Column: Expanding support for Salem s small businesses
By Stratton Lloyd and Michelle Xiarhos Curran
Dec 10, 2020
Jaime Campos/Staff photoA couple walks down Essex Street in Salem.
Small businesses are the lifeblood of our communities, and they play a critical role in creating vibrant main streets and strong local economies. In our area eateries, bookstores, salons, shops and tech companies, we make connections, support our friends and neighbors and witness innovative entrepreneurs in action.
In ordinary times, small business owners — especially immigrants, women and minorities — face significant challenges when starting and sustaining businesses, particularly when it comes to accessing financing. According to the Federal Reserve’s 2019 Small Business Credit Survey, only half of the 43% of small businesses that applied for financing received the requested amount. With the COVID-19 pandemic stretching into its ninth month ....

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