Grants and Contracts Details

Description

Scope of Work – Kentucky Small Business Development Center The City of Covington is establishing a partnership with the Kentucky Small Business Development Center (KSBDC) to pay for a business coach based in Covington that would provide no-cost coaching, consulting, advising, counseling, and training services to start-up businesses, existing businesses, and entrepreneurs. The KSBDC business coach acts as an important extension of our economic development team to assist Covington businesses with technical assistance, advising, counseling, and training to reduce business closures, and help businesses grow. A KSBDC coach can work with businesses one-on-one on business plan development, financial projections, and other technical details that are sensitive or confidential. Securing this partnership leverages partnerships and provides additional services to Covington businesses in a non-traditional way. This partnership provides technical assistance that may not otherwise be available. Agreement Highlights: • Stakeholder Agreement – The signed agreement will outline the partnership and the City of Covington’s $50,000/year match to fund a full-time business coach in Covington (including full salary, training, equipment, and access to resources). This match will be counted towards CORE (account 3200005306). • KSBDC will provide a scorecard that will be reported back to the City of Covington, including total clients served, jobs supported, new business starts, capital infusion, number of coaching hours, number of training events, number of training attendees, success stories, and many other data points.
StatusActive
Effective start/end date11/1/2310/31/24

Funding

  • City of Covington Economic Development Department: $50,000.00

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