City of Riverside Small & Micro Business Grant Program

The City of Riverside's Small & Micro Business Grant Program aims to bolster local small business resiliency by offering grant awards to qualified businesses. This initiative aligns with a mission to foster economic stability and growth within the city, particularly for businesses that have experienced financial impacts, such as those related to COVID. The program's design suggests a strategic priority on community economic health and the long-term sustainability of its local enterprises, which is fundamental to a thriving city. The primary beneficiaries of this grant program are small and micro-businesses located within Riverside city limits. Specifically, eligible businesses must have fewer than 50 employees, an annual gross revenue between $10,000 and $2,500,000, and must have been in operation prior to January 1, 2023, with a valid business license. A key focus is on businesses that can demonstrate a COVID financial impact, indicating an effort to support recovery and adaptation. The program targets not only established small businesses but also home-based businesses, emphasizing broad support for the local entrepreneurial landscape. Beyond direct financial support, the program prioritizes the holistic development of businesses. All applicants are offered a free one-on-one Strategic Planning Consultation. This component is designed to identify areas for improvement and to help businesses build customized strategies. This focus on capacity building and strategic planning indicates a theory of change that extends beyond immediate financial relief, aiming for long-term sustainability and increased financial stability. The expected outcomes of the Riverside Small & Micro Business Grant Program include enhanced financial stability for participating businesses, increased capacity for success, and improved long-term sustainability. While specific measurable results beyond the grant awards of up to $25,000 are not detailed, the emphasis on strategic planning consultations suggests an expectation of improved business operations and resilience. The program implicitly seeks to retain and grow local businesses, thereby contributing to the overall economic well-being of the City of Riverside.