Durham Strategic Plan Dashboard
Prosperity
Status Indicator: 
In Progress | 
On Hold | 
Complete/Ongoing
Initiative: 1.11 Enhance the entrepreneurial network by connecting businesses to funding opportunities and providing training and technical assistance
Shared Economic Prosperity
Description
Durham has a long history of entrepreneurship. Our small businesses and startups are what make Durham unique. They allow our residents to uplift their families, their communities, and the local economy. An entrepreneurial ecosystem is a network that enables these businesses to connect with each other and with the resources that will help them grow and flourish. This way, small enterprises can continue to contribute to Durham’s culture for many years to come.
Key Measures & Data Analysis
To date, the Microenterprise Development Program (Momentum Financial Academy for Microenterprise) has graduated 43 participants across five cohorts, with 94% of businesses minority-owned and 73% women-owned. Additional cohorts are being run using ARPA funding and plans for future cohorts are in progress.
Microbusiness Graduation
Why is it important?
This initiative aims to remove obstacles for all small business owners and entrepreneurs, especially those starting out in local, historically under-resourced communities. Many of these businesses may be unaware of available resources or lack the established connections that larger businesses in well-resourced communities may have. Creating a simple and straightforward pipeline system helps to equalize access to opportunities and create a more level playing field.
What have we been doing?
Staff have focused on strengthening Durham's entrepreneurial ecosystem by connecting businesses to funding, technical assistance, and collaborative networks — with a particular emphasis on businesses along the Fayetteville Street Corridor through ARPA-funded programs.
Key activities include:
• Supported collaborative network development through partner engagement and strategic coordination.
• Developed program timelines, marketing strategies, and operational frameworks during the winter to support upcoming program launches.
• Prepared for the launch of TradeConnect Durham and the Access to Capital Accelerator, including outreach planning and partner coordination.
• Continuing the Durham Legacy program and managing Neighborhood Revitalization oversight across Scarborough House, ZAFA, Ecclesia, and Ellis Jones.
• Completing the Bounce Back Business Owners, Commercial Property, and Business Registry/Website workstreams.
Spotlight: 18 businesses completed Business Enhancement Activities; $116K in stipends distributed to Fayetteville Street Corridor businesses; 11 commercial properties counseled; approximately $64K in technical assistance provided.
What's next?
Work to close out initiative activities before the ARPA grant deadline will continue through the following activities:
• Workstream Completion – Finalizing all remaining ARPA-funded workstreams through the November 2025 deadline.
• Participant Closeout – Completing final technical assistance engagements and business counseling with enrolled participants.
City Website Home Page: Durham, NC | Official Website (durhamnc.gov)
Budget Website Page: Budget & Management Services Department | Durham, NC (durhamnc.gov)
Budget and Management Services Department
Office of Performance and Innovation
Strategy and Performance Division