Programs at Hofstra University and Suffolk County Community College will share grants of $162,000 to help people who own small businesses and those that want start them, officials said last week
Hofstra’s Center for Entrepreneurship and SCCC will each use the funds to pay counselors who aid entrepreneurs in writing business plans, obtaining bank loans and other financing, developing strategies to increase sales and profits, and expanding into new markets.
The money comes from the state’s Entrepreneurship Assistance Program, which is run by Empire State Development. Each school will receive a grant of $80,900 during the 2016-17 fiscal year.
Hofstra secured its first state grant for this purpose in 1990, SCCC in 1994. To date, Hofstra has received $1.7 million for its entrepreneurial program, SCCC, $805,500, records show.
Joyce Smith, statewide director of the entrepreneurship assistance program, said the program also helps minority- and women-owned businesses become certified to compete for government contracts, and provides help to veterans seeking to go into business for themselves.