11 businesses selected for Seed Chicago initiative

Many residents of the Chicago area have the entrepreneurial spirit. Unfortunately, that spirit can be dampened when circumstances prevent those individuals from securing the financing needed to get a business off the ground. Recognizing this is an issue for many, the city of Chicago is taking steps to help certain individuals in that regard via crowd funding using the website Kickstarter. Called Seed Chicago, the initiative is being conducted by World Business Chicago.

A total of 11 community organizations or small businesses have been selected to be included on a Kickstarter webpage that Seed Chicago has created. To receive any funding via this method, the entire amount each is seeking must be collected. The program will run into mid-May.

The businesses and organizations that were selected vary, and include:

  • A dance and fitness studio
  • An art gallery
  • A commission seeking to install beehives and a community garden
  • A workforce development program
  • A school focused on teaching African hair braiding

The city's ultimate goal is for Chicago neighborhoods to become aware of the businesses, and no doubt hopefully take steps to create economic growth. In addition to strengthening the neighborhoods that get involved, it will likely result in the creation of new jobs for city residents.

While this particular incentive targets only 11 small business and organizations, other small businesses may employ similar crowd funding tactics to secure the financing necessary to fund a start-up. Other avenues may available as well. Working with a lawyer who handles these types of matters may bring those options to light.

Source: Chicago Tribune, "Chicago taps Kickstarter for community development projects," Wailin Wong, April 9, 2013

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