Essex County Community Foundation wants to hear from those who have worked with or benefitted from the nonprofit over the last 25 years. The Foundation is launching its 25th anniversary of service to Essex County which will culminate with an event at Danversport in November. In 1999, founders David Tory and Lorraine Astle laid the […]
Column: Expanding support for Salem s small businesses
By Stratton Lloyd and Michelle Xiarhos Curran Dec 10, 2020
Jaime Campos/Staff photoA couple walks down Essex Street in Salem.
Small businesses are the lifeblood of our communities, and they play a critical role in creating vibrant main streets and strong local economies. In our area eateries, bookstores, salons, shops and tech companies, we make connections, support our friends and neighbors and witness innovative entrepreneurs in action.
In ordinary times, small business owners â especially immigrants, women and minorities â face significant challenges when starting and sustaining businesses, particularly when it comes to accessing financing. According to the Federal Reserveâs 2019 Small Business Credit Survey, only half of the 43% of small businesses that applied for financing received the requested amount. With the COVID-19 pandemic stretching into its ninth month, challenges like