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Ann Arbor Supports Entrepreneurs with New Guaranteed Income Program
In a groundbreaking move to boost local entrepreneurship, the city of Ann Arbor, Michigan has initiated a guaranteed income program specifically tailored to support low-income entrepreneurs in their business pursuits.
City Council's Grand Investment
Thanks to the city council's strategic decision, an impressive total of $24.2 million will be invested in Ann Arbor's local economy and its future. From this substantial budget, $1.6 million has been earmarked for the guaranteed income initiative.
This allocation ensures that 100 chosen beneficiaries will receive a steady income of $528 each month for the span of two years, aiding them in their entrepreneurial endeavors.
It's essential to note the specificity of the program's target audience. Not just anyone can tap into this financial resource. To qualify for these monthly payments, the applicant must be in the realm of entrepreneurship.
Whether you are in the early stages of setting up a business, working as a gig worker, or even managing a side hustle, you fall under the umbrella of 'entrepreneur' for this program. This stipulation ensures that the funds directly benefit those who are striving to establish and grow their businesses in Ann Arbor.
Application Deadline Approaching
For those considering this unique financial opportunity, time is of the essence.
Eligible entrepreneurs hoping to secure this guaranteed income must submit their applications by the impending deadline of Friday, October 13.
In conclusion, Ann Arbor's guaranteed income program signifies a promising step forward in the city's commitment to fostering a supportive environment for local businesses and startups.
Aspiring entrepreneurs now have an added financial cushion to kickstart their dreams, thanks to the city's visionary initiative.