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Lightfoot highlights investments for Chicago start-up businesses

By FOX 32 News
Published  August 25, 2022 4:54pm CDT
Chicago
FOX 32 Chicago

Mayor Lightfoot highlights investments for Chicago start-up businesses

Dozens of business owners Thursday learned the ‘dos’ and 'don'ts' on getting government contracts.

CHICAGO - Dozens of business owners Thursday learned the ‘dos’ and 'don'ts' on getting government contracts.

The 9th Annual Procurement Vendor Fair was held at Malcom X College, and included nine workshops on procurement-related topics.

The topics included resources for starting a business, procurement 101 and how to become certified.

During her keynote address, Mayor Lori Lightfoot highlighted some of the city investments for start-up businesses.

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"We put a $10 million fund available so we can help you over that front. You can draw from that and use that to leverage banks to open up lines of credit," said Lightfoot.

Lightfoot also highlighted a pilot program where contractors are given 50 percent of invoices upfront instead of waiting months for payments.

The city has also eliminated expiration dates for MWBE certification.