detroit business journal

The New Economy Initiative, a project of the Community Foundation for Southeast Michigan, recently awarded nearly $600,000 in grants to six non-profit organizations across Detroit through its Neighborhood Business Initiative.

“NEI is continuing to focus on building an economy in our region where opportunity and success are available for all,” says David O. Egner, NEI executive director. “By providing grant support to these existing organizations and resources, we are expanding their ability to reach and serve more entrepreneurs and businesses from within the neighborhoods that often need it the most.”

The new initiative is designed to grow and strengthen the network of support services for entrepreneurs and small businesses in underserved neighborhoods throughout Detroit. Through its research, NEI identified three focus areas where businesses need the most support: business advocacy, capital readiness and the physical places for businesses and ideas to thrive.