Heard on the Street – here’s what we were reading last week:
Holyoke Economic Development Corp. to revamp program with focus on smaller business loans: The city of Holyoke, MA Office of Planning and Economic Development, in partnership with MassDevelopment, hired Next Street to analyze HEDIC’s loan program, which traditionally offered larger loans to liquid or established companies.
The Long Odds of Getting Opportunity Zone Capital to Opportunity Zone Businesses: With no dollar limit, few restrictions, and no public reporting requirements in the legislation that created them, Opportunity Zones have the potential to be a multi-trillion dollar land grab for investors, displacing many of the 35 million people who live in those census tracts — a majority of whom are people of color.
Google launches a new portal for small businesses: To celebrate International Small Business Day, Google launched a new website that will suggest its products that seem like the best fit for a specific business. The Google for Small Business portal was announced at the Grow with Google Learning Center in New York City, where the company offers a variety of workshops and classes.
80% of small business owners feel prepared for a recession: A new survey says 80% of small business owners feel they are well prepared in the event the U.S. economy falls into a recession. The data, collected by online small business lender, Kabbage, shows a vast majority of entrepreneurs are actively taking steps to increase cash flow and reduce costs as they strengthen their operations in case of a downturn.