For over 13 years, Uptown Consortium, Inc. (UCI) has partnered with Alloy Development, Co. (formerly HCDC, Inc.) to provide technical assistance through coaching to small businesses and organizations in Uptown.
Alloy is one of Hamilton County’s most valuable resources for small business owners and start-ups. The organization helps build businesses and promotes job creation in three ways: business incubation, business lending and economic development services.
“One-on-one coaching, strategic planning, marketing support and access to capital are all ways Uptown businesses utilize our partnership with Alloy. Support for existing and new businesses, or businesses looking to locate in Uptown, is an important economic development focus for UCI. Ultimately, we want our business districts and future development sites to thrive,” according to Brooke Rapp, Director of Community Development at UCI.
Here’s a look back at 2022 efforts.
Small Business Coaching
Alloy’s small business coach Caitlin Siegel Hartzler stepped into the role last May, taking over from longtime coach Bob Pickford and bringing her strong background as a small business owner and experience working in neighborhood organizations.
In 2022, Hartzler provided support to a variety of Uptown businesses and organizations. Of the 13 clients served, 12 are minority-owned and managed (92%), six are women-owned and managed (46%), and five are owned and managed by minority women (38%).
Many of the businesses Alloy helped are relatively new ventures, either incorporated in 2020 or 2021 or they were individuals exploring a startup idea. With so many new businesses, much of the coaching focus was centered on the transition from being a contractor or sole proprietor to an LLC. “One core area for all of these clients has been establishing solid financial management processes, even at the basic level of separating personal and business accounts and beginning to track income and expenses accurately,” Hartzler said.
Hartzler shared that a major goal for some businesses has been preparing to apply for funding and grants. This has spurred businesses to invest time and resources in bookkeeping and pursuing registration as MBE and WBE businesses. “This is a big win, as working with solid financials is a key step towards successful operations,” Hartzler said.
In all, Alloy provided 106 in person and virtual coaching sessions (outreach, coaching and follow up) to small businesses and organizations in Uptown in 2022.
Neighborhood Business Outreach
To connect with more businesses in the Uptown neighborhoods, Hartzler and Rapp met with business associations in Uptown’s neighborhood business districts to present an overview of Alloy’s services and facilitate open conversations about the most pressing issues that businesses are currently facing such as finding staffing and inflation. These conversations and a follow-up business survey are helping to shape future outreach and services.
“Through our outreach, we learned that small business coaching is valued by business owners at various stages of development and there are turning points at which coaching is especially valued,” Hartzler shared. Hartzler and Rapp are using the feedback to prioritize key focus areas in 2023.
A Glimpse into 2023
Alloy and UCI are taking the input and learnings from 2022 to prioritize small business support in 2023. The focus will include maintaining existing coaching relationships with WBE and MBE businesses in the Uptown neighborhoods through outreach and coaching sessions and actively cultivating new coaching relationships. Alloy and UCI will also continue engagement and outreach to Uptown’s business associations to share updates and spread the word about Alloy’s unique services.
Businesses located in Uptown that are interested in technical assistance through coaching can contact Brooke Rapp directly at brapp@uptownconsortium.org. For more information on additional resources available to local businesses, visit Alloy's website.