“75Strong” program to train economic developers, aid small businesses in Arkansas

LITTLE ROCK (KATV) — The Arkansas Economic Development Commission (AEDC) has unveiled a statewide program to spur small business development by training community leaders and economic developers.

The program is named “75Strong,” after the number of counties in the state.

AEDC’s intent with 75Strong is to give rural communities and small businesses the tools they need for growth.

The program is designed to train economic developers and community leaders on entrepreneurship and small business development and to provide direct technical support for small businesses throughout Arkansas.

“Small businesses struggle with access to expertise in the form of coaching, consulting, mentoring—yet they don’t have the funds to be able to pay for that technical assistance,” said Jeff Standridge, managing director of Conductor.

“They really need an ecosystem, if you will, of people they can call on, other entrepreneurs with whom they can share ideas, maybe share resources,” Standridge said, “and those are the major needs that they have and this program is designed to offer all of those to small businesses in the state.”

Key outcomes for the 3-year program include selecting 30 to 50 economic developers to pursue and receive the Entrepreneurial Development Professional (EDP) certification from the International Economic Development Council, selecting 20 communities to conduct Community Assessments through the Venture Ecosystem-Building Canvas, create and launch Entrepreneurial Development Strategic Plans for 10 or more communities, and launch Entrepreneurial Development Steering Teams for five or more communities.

As part of the Business Building Curriculum segment of the program, Entrepreneurial Developer participants will each recruit two to three companies meeting pre-determined criteria that will participate in the 12-month business-building curriculum.

These companies will complete customized strategic growth plans with an expectation of increasing revenue and creating jobs.

The program will be managed by organizations Startup Junkie and Conductor.

“This initiative is part of a larger economic development strategy in which we realize that in order to grow our economy, we have to help small businesses and entrepreneurs,” said Esperanza Massana Crane,Director of AEDC’s Small Business and Entrepreneurship Development Division

View the full interview with Crane on Little Rock ARC below:

“And so, by equipping community developers, economic developers and chamber executives around the state and giving them the tools to really be the feet on the ground, to assist small businesses and entrepreneurs, we believe that we’re going to be spreading this message of opportunity, of growing businesses and really strengthening that entrepreneurial base in the state,” Crane told KATV.

“Arkansas is the state where a man took a small town five and dime and turned it into the largest company on earth,” said Governor Sanders. “Entrepreneurship is part of our DNA, and I’m proud to help Arkansas’ small business owners build the great companies of the future. 75Strong will play a key role in that and connect local innovators with the support they need.”

The 75Strong program was approved by Arkansas’ legislature last Friday and officially begins September 1.