The City of Atlantic City celebrated the success of its recent Small Business Micro-Grant Program with a reception on March 12, honoring the recipients at Island Bar at Showboat Resort.
The event brought together city leaders and entrepreneurs whose businesses benefited from the program’s investment in the local economy. Through the initiative, the city awarded $900,000 in grant funding to 65 small businesses across all six Atlantic City wards, helping stabilize operations, retain jobs and support growth.
Speakers at the reception included Mayor Marty Small Sr.; Bruce Weekes and Pamela Fields with the city’s Division of Economic Development; City Council President Aaron ‘Sporty’ Randolph; City Council Vice President Kaleem Shabazz; the city’s Business Consultant Joe Molineaux; and Carmen Gates on behalf of the African American Chamber of Commerce of New Jersey.
Funded through federal relief provided by the American Rescue Plan Act, the Atlantic City Small Business Micro-Grant Program was designed to help small, for-profit businesses located within city limits recover from the economic challenges caused by the COVID-19 pandemic.
“Since becoming mayor, I have made it clear that the Small Administration will do our best to support the Atlantic City business community,” said Small. “We have backed that commitment by using American Rescue Plan Act funds to invest directly in our local businesses. What began as a $500,000 investment quickly grew when we saw the positive impact it was having across the city, leading us to nearly double our commitment.”
An estimated 200 jobs were retained, and an additional 75 jobs were created, with more than one-third of the money going to startups. For the purposes of the program, a startup is defined as a business newly formed or in operation for fewer than three years.
The program also played a key role in strengthening commercial corridors in Atlantic City, with 11 Boardwalk businesses supported and 11Atlantic Avenue businesses (four of them startups) receiving funding. Three-quarters of the recipients are minority-owned, women-owned or veteran-owned businesses, and nearly half of the recipients are Black-owned businesses.
Each eligible business was able to receive grants of up to $15,000 to help address pandemic-related financial hardship. Funding helped cover expenses such as payroll, rent, mortgage payments, utilities, equipment, inventory and other operational costs.
Newer businesses and startups were required to submit a business plan in addition to demonstrating how the pandemic affected their operations.
The Atlantic City Division of Economic Development is also preparing to bring back the Small Business Academy this April. This free program is designed to support residents interested in starting a business or growing an existing one. Participants gain valuable knowledge, resources, and guidance to help turn their ideas into successful ventures.
To help prospective participants learn more, the city will host a virtual information session on March 25 at 6 p.m.
