02/27/2023

UChicago’s Polsky Exchange expands its commitment to South Side economic growth with the launch of a new Illinois Small Business Development Center

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The Polsky Exchange at the University of Chicago will soon launch a new Illinois Small Business Development Center (SBDC) to spur and support economic growth on Chicago’s South Side. It will be the first business development center specifically dedicated to supporting South Side professional services and technology business owners, such as accountants, digital marketers, web developers, content creators, and more—a gap identified by the Polsky Exchange.

Funded in part by a $100,000 grant from the Illinois Department of Commerce and Economic Opportunity (DCEO), the SBDC at the Polsky Exchange will support pre-venture entrepreneurs and existing business owners in nine neighborhoods, including Douglas, Grand Boulevard, Greater Grand Crossing, Hyde Park, Kenwood, Oakland, South Shore, Washington Park, and Woodlawn. A search has begun for a director and the center aims to open later this spring.

“Being selected to host an Illinois Small Business Development Center is an honor and a tremendous vote of confidence in the Polsky Exchange and the impact we have on our neighboring communities,” said Abigail Ingram, executive director of the Polsky Exchange. “For entrepreneurs offering professional services especially, it can be difficult to scale and grow a business because revenue is generated through your own talent and time. Chicago’s South Side is home to countless high-potential and high-achieving entrepreneurs, and it is our mission to help them grow and achieve greater success.”

With 39 locations throughout the state, Illinois SBDCs provide no-cost, one-on-one confidential business advice. The SBDC at the Polsky Exchange will offer assistance with business plans and growth strategies, financial reviews, sales and marketing strategies, as well as connections within the expansive business network and community at the University of Chicago.

“Entrepreneurship in today’s economy can be challenging, but the experts at the Polsky Exchange offer decades of unmatched business leadership experience,” said Jay Schrankler, associate vice president and head of the Polsky Center for Entrepreneurship and Innovation at the University of Chicago. “We believe this new center will be a critical economic driver locally and will help increase wealth for individuals, families, and communities.”

Click here to read the full story. 

This story was first published by the Polsky Center for Entrepreneurship and Innovation. 

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