Supporting entrepreneurs and the expansion of small businesses is part of our mission at the New Castle Henry County Economic Development Corporation (EDC) and our community partners.
Creating a healthy environment or eco-system for the creation and growth of small businesses is a long term strategy for improved quality of life and community prosperity. It is a sustainable strategy that provides incremental improvement; not overnight instant success. It is a long game.
An entrepreneurship-led economic development strategy was the focus of a 2022 Report authored by Courtney Zaugg of Plaka & Associates. According to the report, the best place to start is with the entrepreneur themselves.
Here are two programs that focus on the entrepreneur:
The EDC partners with the East Central Indiana Small Business Development Center to provide no cost confidential business advising services to any small business and entrepreneur in Henry County. Access their services by visiting https://isbdc.org/locations/east-central-indiana-sbdc/ or call the EDC office at 765-521-7402.
The EDC offers the Enterprise Loan Fund (ELF), a revolving loan fund designed to enhance access to capital for small businesses that otherwise would not qualify with a traditional lender. Since 2012, the ELF has loaned out nearly $700,000 to 25 different small businesses in Henry County. Learn more about ELF, by visiting https://growinhenry.com/business-resources/enterprise-loan-fund/.
Recent ELF customers were Ky and Jo Scott, founders of Ky’s Kreations. With a combined 80 years of restaurant experience, this women owned business was founded in 2018 with a food truck. It grew in 2022 with the opening of Ky’s Lunch Box. The ELF loan proceeds were used to help with the opening of Ky’s American Bistro, located at 1333 Broad Street, New Castle.
Ky and Jo Scott’s mission is to “create a welcoming and inclusive dining experience that celebrates diversity and fosters community.” The Scott’s “believe that food has the power to bring people together.”
Small businesses like Ky’s Kreations are the heartbeat of our community. The EDC is here to help them grow and flourish. Let us know how we can help.