Wave Staff and Wire Reports
LOS ANGELES — Business owners who have been an integral part of their communities for 20 or more years can now apply for grants worth up to $20,000 under a city program.
The Los Angeles Economic Workforce Development Department launched its Legacy Business Program in February. The initiative is aimed at supporting long-standing businesses in Los Angeles through three key ways: providing access to capital, technical assistance and promotional activities.
The application portal opened Aug. 5.
“This effort is dedicated to honoring and supporting the businesses that have long been the backbone of our communities, shaping the unique character of our neighborhoods,” City Councilman Curren Price, who spearheaded the program, said in a statement.
“With more than 50,000 businesses in Los Angeles operating for 20 years or more, programs like this will help ensure their continued success and the preservation of local jobs for decades to come.”
Applicants have until Sept. 15 at 11:59 p.m. to apply. After the city’s Economic Workforce Development Department reviews applications and selects awardees, grants are expected to be disbursed between October and November.
According to the Economic Workforce Development Department, grants will be prioritized toward small businesses facing challenges such as gentrification, steep lease increases and other threats to sustainability, officials said.
Business owners also can apply to be selected as part of the Legacy Business Registry and become eligible to receive a variety of benefits.
The Legacy Business Program offers resources and support, focusing on operational and technical challenges like retirement, legal consultation, lease negotiation and financial counseling, according to officials.
Promotional activities will include social media assistance, revamping websites and partner outreach.
The Economic Workforce Development Department announced that 105 businesses have already been accepted into the program, based on their economic and cultural contributions to the local economy.
The department has teamed up with Price and 8th District Councilman Marqueece Harris-Dawson to host information sessions in their respective council districts.
The department’s Legacy Business team led the presentations and discussed the requirements, benefits and the process to apply for the program.
After the presentations, there was a question and answer sessions where business owners could ask city staff more questions about the program and how it pertained to their respective businesses. Staff from the South and Southeast Los Angeles BusinessSource Centers were present at the information sessions to provide additional business resources to participants.
Price originally proposed the Legacy Business program in 2019. When the City Council approved funding for the program in February Price said the program would help small businesses avoid being displaced.
“The threat of displacement faced by small businesses is compounded by the lack of protections, which disrupts the fabric of neighborhoods and erases the essence of our city’s identity,” he said at the time.
