Local news- Press Release
Charles County Tourism Maryland - Growth Program for Government Contractors to Commence in May 07 February 2024 ( news )
Charles County Tourism , state Maryland ( By Press Release office)
Feb 07,2024
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For Immediate Release
News Release # 2024 - 013
Wednesday Feb . 7 , 2024
The
Charles County Economic Development Department
is now accepting applications for Cohort 11 of the Business Growth Advantage Program ( BGAP ) , a business training curriculum offered at no cost for Charles County - based business owners . Cohort 11 is specifically designed for businesses in the contracting sector . Applications will be accepted until May 17 . Participants of the program can receive a $10 , 000 grant for working capital .
“We are committed to supporting our local businesses and helping them access the training and resources they need to grow , ” said Economic Development Director Kelly Robertson - Slagle . “I’m thrilled with the success of our BGAP program and the number of businesses who are taking the tools and strategies they learned to achieve their business goals . ”
Growth planning is a pivotal step in a business’s lifecycle , requiring both time and resources . The BGAP was initiated in 2022 in response to these challenges . It offers dedicated support to businesses that have been active for at least two years and delivers an in - depth eight - week training regimen .
BGAP Cohort 11 begins May 23 and will be held virtually once a week , for 8 weeks . It is designed exclusively for government contracting businesses with a track record of success . To qualify , businesses must have operated for at least two years , generated $300 , 000 to $3 , 000 , 000 in gross revenue , have at least one full - time employee ( excluding the owner ) , and have a genuine aspiration for growth .
This exclusive cohort aims to enhance contract win rates , client relationships , and operational efficiency , potentially benefiting the community through job opportunities , workforce development , economic diversification , and support for local businesses .
“To date , BGAP has successfully graduated nine cohorts , totaling 122 small businesses , showcasing a consistent interest and participation from the local business community . The fact that over $1 , 015 , 000 in grant funding has been deployed to assist these businesses further underscores the practical need for financial support and capacity - building , ” said Chief of Business Services , Lucretia Freeman - Buster . “The intention for Cohort 11 is to address the unique intricacies of the government contracting space and ensure that businesses in this sector possess the specialized knowledge , skills , and resources necessary for success . ”
Upon successful acceptance into the program , business owners will engage in the program ' s practical sessions on key business operating concepts , collaborative sharing of best practices , and a step - by - step evaluation of operations . Businesses that are interested in participating in BGAP are encouraged to learn more and apply for the program
here
.
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