Two More Locally Owned Businesses Receive Microenterprise Assistance Funding by City of Cortland – WXHC.com

Report on Microenterprise Assistance Program Funding and Sustainable Development in the City of Cortland

Executive Summary

The City of Cortland Common Council has unanimously approved the allocation of funds from the Microenterprise Assistance Program (MAP) to two local businesses. This action directly supports the city’s commitment to fostering local economic vitality and aligns with several key United Nations Sustainable Development Goals (SDGs), particularly those focused on economic growth, sustainable communities, and innovation.

Funding Allocation Details

Following a thorough review and recommendation by the Microenterprise Assistance Program Review Committee, the Common Council awarded a total of $34,238 to the following enterprises:

1. K&J Laundry Lounge: Awarded $28,738. These funds are designated for the acquisition of essential equipment, furniture, fixtures, computer systems, and software. The allocation also supports working capital and marketing initiatives.
2. Forged from Ashe Studios: Awarded $5,500. The funds will be utilized for the purchase of necessary equipment, furniture, and fixtures to support studio operations.

Contribution to Sustainable Development Goals (SDGs)

The strategic deployment of MAP funds represents a tangible investment in local-level sustainable development. The initiative contributes directly to the following SDGs:

• SDG 8: Decent Work and Economic Growth: By providing critical capital to microenterprises, the program promotes sustained, inclusive, and sustainable economic growth. It empowers local entrepreneurs, supports the creation of productive employment, and fosters a resilient local economy.
• SDG 9: Industry, Innovation, and Infrastructure: The funding enables small businesses to invest in modern equipment, technology, and infrastructure. This enhances their productivity and capacity for innovation, strengthening the city’s local industrial base.
• SDG 11: Sustainable Cities and Communities: Supporting small, local businesses is fundamental to creating inclusive, safe, and resilient urban environments. Thriving enterprises like K&J Laundry Lounge and Forged from Ashe Studios contribute to the economic and social vibrancy of the community, making the City of Cortland more sustainable.

Conclusion

The Common Council’s decision to award MAP funding is a strategic measure that reinforces the city’s economic foundation. This investment not only aids individual businesses but also advances the broader objectives of sustainable and equitable community development, in line with global SDG targets.

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 8: Decent Work and Economic Growth

  The article directly relates to this goal by describing a program that provides financial assistance to microenterprises. This support fosters local economic growth and entrepreneurship, as seen in the funding awarded to “K&J Laundry Lounge” and “Forged from Ashe Studios” to help them operate and expand their businesses through the purchase of equipment and working capital.

• SDG 9: Industry, Innovation and Infrastructure

  This goal is relevant through its focus on supporting small-scale enterprises. The “Microenterprise Assistance Program” enhances the capacity of local businesses by providing funds for essential “equipment, furniture and fixtures,” which are foundational elements of business infrastructure and productivity, thereby fostering local industry.

• SDG 11: Sustainable Cities and Communities

  The initiative is a city-level action (“City of Cortland Common Council”) aimed at strengthening the local economic fabric. By supporting local businesses, the city is fostering a more resilient and economically vibrant community, which is a core aspect of making cities sustainable.

2. What specific targets under those SDGs can be identified based on the article’s content?

• SDG Target 8.3

  Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services. The article is a clear example of this target in action. The “Microenterprise Assistance Program” is a development-oriented policy at the city level that encourages entrepreneurship by providing direct financial access to microenterprises like a laundry lounge and an art studio.

• SDG Target 9.3

  Increase the access of small-scale industrial and other enterprises…to financial services, including affordable credit, and their integration into value chains and markets. The article details the provision of financial services to small enterprises. The funding amounts of “$28,738” and “$5,500” are direct examples of increasing access to capital for businesses that might otherwise struggle to secure it.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Yes, the article contains several specific data points that can serve as indicators to measure progress:

• Number of small businesses supported: The article explicitly states that funding was awarded to “two more local businesses.” This is a direct quantitative indicator of the program’s reach.
• Amount of financial assistance provided: The exact funding amounts are specified: “$28,738” for K&J Laundry Lounge and “$5,500” for Forged from Ashe Studios. This measures the volume of financial services being delivered.
• Purpose of funding: The article details how the funds will be used, such as for the “purchase of equipment, furniture and fixtures, computers, software, marketing vehicle wrap, and working capital.” This qualitative indicator shows that the financial support is being directed towards productive assets and business growth.

4. Table of SDGs, Targets, and Indicators

Source: wxhc.com