Philly’s small business community comes together for Bridging Blocks event

Starting a small business can be lonely, so many of the business owners who attended WHYY’s Bridging Blocks event Wednesday evening at WHYY’s Studio near Independence Mall were encouraged to be surrounded by well over 100 creative entrepreneurs and helpful professionals.

They attended the event, titled Small Business Card Exchange, with the goal of starting, growing and improving small businesses in Philadelphia.

Business reporter Kristen Mosbrucker-Garza moderated a conversation between experts from the Free Library of Philadelphia, the city government and financial services companies. The main objective of the evening was to address the hurdles that small and emerging business owners face while navigating in Philadelphia.

Despite having nearly 30,000 business applications from 2022 to 2023, Philadelphia is a relatively difficult city in which to start and maintain a business. Small business owners often need grants and other investments to get started, as well as help with financial and risk management planning.

Lonnie Johnson, a library supervisor at the Free Library’s Business Resource and Information Center, encouraged business and nonprofit owners to visit the BRIC for “people-centered” resources.

Johnson emphasized that Google can be helpful but often cannot give entrepreneurs the information and access to expertise that they need and highlighted the Free Library’s services. “We work one-on-one with people and give them direct answers,” he said, “and if [we] don’t know the answer, we refer them to someone who does.”

Rachel Branson directs the Office of Minority Business Success under the Department of Commerce and supported Johnson’s point that the department works with the Free Library. However, the office also allocates funds to groups such as the Economy League, so aspiring owners can avoid accumulating debt at startup.

Gregory Davis, the president of Vertex Financial Advisors, advocated for people to “bootstrap their business,” by generating capital through saving monthly income or crowdfunding. If aspiring business owners feel incapable of saving, Davis encouraged them to invest in financial planners to instill discipline and plan for periods of instability.

People-to-people conversations

After the panel, small business owners, business-to-business vendors and experts who contribute to start-ups talked to each other about their wants and needs. WHYY’s community engagement manager Eric Marsh also led a conversation in which attendees introduced themselves and discussed what they shared with their groups.