Kentucky SBDC awarded SBA grant, boosting new and existing childcare businesses
LEXINGTON, Ky. (April 19, 2024) — The Kentucky Small Business Development Center (SBDC) proudly announces a $300,000 grant from the U.S Small Business Administration (SBA), providing coaching and specialized training to existing and new childcare small businesses across Kentucky.
The Kentucky SBDC’s Childcare Initiative seeks to provide technical assistance and training geared towards the childcare business sector. The objective is to devise and execute new programs, promoting the growth and sustainability of childcare businesses, thus enabling these businesses to serve the Commonwealth’s children more effectively.
“The Kentucky SBDC is excited to accept and deploy our Childcare Initiative to help benefit small businesses operating in the childcare sector across Kentucky,” said Kristina Joyce, Kentucky SBDC state director. “With this support, the Kentucky SBDC is committed to delivering targeted assistance to entrepreneurs in the childcare industry.”
This initiative is designed to work in concert with Kentucky’s key childcare stakeholders, such as Kentucky Youth Advocates, the Prichard Committee for Academic Excellence, Childcare Aware of Kentucky and the Family Childcare Network of Kentucky. These collaborations will enhance the economic well-being of the Commonwealth’s children, broadening the availability of essential childcare services.
“We recognize the critical role that childcare services play in our communities, supporting both working parents and early childhood development. With this grant, we are not only bolstering the childcare industry but also strengthening Kentucky’s economy through small business success. We aim to provide childcare small businesses in Kentucky with the essential resources to help them grow and thrive,” Joyce added.
Continued efforts will concentrate on augmenting the number of available childcare slots while assisting entrepreneurs launching new childcare enterprises. Additionally, the initiative prioritizes enhancing the quality of current childcare centers, aiming to increase kindergarten preparedness and offer significant advantages to Kentucky’s children and their families.
The Kentucky SBDC Childcare Initiative will offer a variety of assistance to childcare providers, including but not limited to: start-up support, financial management guidance, operations and compliance consulting, marketing and enrollment strategies, training and professional development programs, early childhood education resources, health and safety protocols and business skill enhancement services.
Kentucky SBDC
The Kentucky Small Business Development Center (SBDC) has been assisting the Commonwealth’s small business community for over 40 years. With centers statewide and an experienced and knowledgeable staff, the Kentucky SBDC provides unparalleled business coaching and training services at no cost to help existing business owners and potential entrepreneurs start, grow and succeed.
Kentucky SBDC services include one-on-one business coaching, training workshops, access to market research, loan packaging help, assistance with financial projections and information needed to make informed business decisions.
Kentucky SBDC is co-sponsored by the U.S. Small Business Administration and is administered by the University of Kentucky Martin-Gatton College of Agriculture, Food and Environment in partnership with regional academic institutions, economic development organizations, the private sector and the Commonwealth of Kentucky.
SBA
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
As the state’s flagship, land-grant institution, the University of Kentucky exists to advance the Commonwealth. We do that by preparing the next generation of leaders — placing students at the heart of everything we do — and transforming the lives of Kentuckians through education, research and creative work, service and health care. We pride ourselves on being a catalyst for breakthroughs and a force for healing, a place where ingenuity unfolds. It's all made possible by our people — visionaries, disruptors and pioneers — who make up 200 academic programs, a $476.5 million research and development enterprise and a world-class medical center, all on one campus.