L.A. stories of inspiration and success

L.A. stories of inspiration and success

Los Angeles City Mayor Karen Bass (center) and EWDD General Manager Carolyn Hull (second from left) at the 2023 L.A. Regional Small Business Summit on May 3, 2023
More than 3,000 small business owners attended the first ever LA Region Small Business Summit, held May 3rd at Los Angeles Trade-Technical College (LATTC) in South LA. Outside the LATTC Culinary Arts Hall, dozens of booths were set up, offering resources to small businesses. The aisles were crowded shoulder to shoulder, filled with entrepreneurs browsing the booths.

Inside the venue, Mayor Karen Bass addressed a packed audience. “I want you to know that my commitment around our business community, and especially our small business community, is number one in my mind, and number one also are those businesses that are still struggling post-COVID.”

Following Mayor Bass’ remarks, EWDD General Manager Carolyn Hull announced the launch of Round Three of the Small Business Rental Assistance Grant program, which offers grants up to $15K to help storefront businesses cover back rent in their financial recovery from COVID-19. She also encouraged business owners to visit the City’s 10 BusinessSource Centers, which offer free resources to help small businesses succeed.

“Not only do we have grants," Hull said, "we have the ability to support you with technical assistance and a plethora of other services.”

The day-long summit also offered several panels covering topics such as small business owner success stories, information about access to capital, and free opportunities to grow businesses, which featured speaker EWDD Assistant Chief Grants Administrator Rosa Penaloza. "If there is one piece of advice that I want you to walk away with today is make sure you have a good financial institution to run your business finances. And make sure to keep your personal and business bank accounts separate."

The LA Region Small Business Summit was held in partnership with the Los Angeles County Department of Economic Opportunity and Wells Fargo Bank.

This story is part of the EWDD UPDATES from the week of May 8, 2023. Read this issue and more.