by Kay Steele Faulk

Fostering Frankfort’s vibrant entrepreneurial environment for the development of new businesses is a key focus of Phillip Kerrick and his team at the Capital Community Economic & Industrial Development Authority (CCEIDA). A $100,000 grant they secured through the Kentucky Department for Local Government is playing a big role in helping with the creation and startup of new businesses.

Kerrick explained, “Often, an individual will have a great idea for a new business and a lot of desire to make the business work, but doesn’t possess the necessary business and financial management skills for the business to succeed.” Through the grant, a Micro-Enterprise Program was established to provide training and education in the areas of business feasibility, business planning, marketing and financial management. The grant also provides funds for a Micro-Loan Program for technical assistance for small business development.

Every new business venture in Frankfort involves identifying, developing and bringing someone’s vision to life. Because the end result is unknown, starting a new business also involves risk and uncertainty for entrepreneurs. But with the help of Kerrick’s team and the assistance now available through CCEIDA’s Micro-Enterprise / Micro-Loan Programs, more innovative ideas and better ways of doing things have a greater chance of succeeding.

“Every new business that succeeds in Frankfort brings value to the community,” Kerrick said. So, we want to stoke the creative furnace of every person in Franklin County.” That’s at the heart of economic development.