How a Columbus initiative is helping women- and minority-owned businesses move Downtown

COLUMBUS, Ohio (WCMH) -- A city initiative that helps minority- and women-owned small businesses open storefronts Downtown is accepting new applications after a successful first phase.

The Downtown Ground Floor Growth Initiative -- a program from Columbus City Council, Downtown Columbus Inc. and the Columbus Empowerment Corporation -- has helped five businesses move into the area since the start of the year. Included in those are Black Kahawa Coffee and the partnership between Three Bites Bakery and Little Cat Boba.

Soon, a new batch of businesses will get the chance to benefit from this program.

"We are now one step closer to a downtown that is reflective of the beautiful diversity that exists in our city," Councilmember Nick Bankston said in a news release.

For Bankston, it's about improving Downtown, which he likened to the city's heart.

Watch: Columbus initiative helps women, minority-owned businesses

"We have a great brain to the north that is Ohio State," Bankston said. "We have fast feet to our south, which is Rickenbacker. We have strong biceps and arms to our east and west, like Olde Towne East and like Franklinton. But really, none of those body parts move or matter unless there's a strong heart that pumps blood to all the other arteries."

Madison Cole, director of communications for Downtown Columbus Inc., said that as the city expects to welcome thousands of new residents over the coming years, this program will help put its diverse population on display.

"We need more retail offerings and not just chains or things like that," Cole said. "The things that reflect the rich diversity of the Columbus community. People want businesses that provide a wide array of offerings, and that's really where these small women- and minority-owned businesses help."

Isabella Bonello, owner of Three Bites, described how it's helped her joint project with Little Cat.

"Food businesses are notoriously hard to run," Bonello said. "Most don't make it past three years, much less the first year. So, to have that support from the city and just know that we don't have to take a ton of loans that are going to end up crippling us was huge."

There are three ways that the initiative helps women- and minority-owned small businesses.

It offers graduated rent support and a risk mitigation fund. Businesses receive rent support for the first three years of their lease that will wind down as the business becomes more independent. The risk mitigation fund is available to put property owners at ease from any concerns they might have about letting these businesses move in.

Next, the program helps through tenant improvement support. This is a commitment from the city to contribute funds to the renovation of retail spaces. The owners of both the property and the small business are also on the hook for contributing to renovations so that all parties are invested.

And there is technical assistance. Columbus has established a contract with the Columbus Empowerment Corporation to provide advising services on how to navigate challenges that come with opening a brick-and-mortar location. In May, Douglas Buckley, owner of Black Kahawa Coffee, said the initiative has connected him with business coaches who he meets with regularly.

“If you’re running a business, you can end up talking to your significant other more than what they want to listen, so it’s good to have a sounding board of people who have some experience,” Buckley said.

Bankston said that this investment in small businesses will pay dividends for the city.

"That's an investment that we think will ultimately pay off in the long run, because we will have more foot traffic, we will have more economic activity, and no to mention more jobs for folks," Bankston said. "Our small business are the lifeblood of our city."

As for the businesses that have participated so far, the reviews have all come back positive.

"I feel like this initiative, at the heart of it, it's trying to have the Downtown corridor reflect the diversity of the city and I'm all in," Buckley said.

Applications for the Downtown Ground Floor Growth Initiative are open until Oct. 18. Small business owners can apply at this link.