ESCANABA, Mich. (WZMQ) – A U.P. organization is providing small businesses with grants to help them grow and thrive.
“I was super excited when we got the grant,” said Tyler Myrick, Owner and Manager of Young’s Menswear in Escanaba. “It was just a super helpful opportunity.”
Young’s Menswear was one of 26 businesses to benefit from the first round of grant funding available through the Central Upper Peninsula Small Business Support Hub.
“The Hub is completely free, so it’s a great resource for small businesses in the area,” said Hub Resource Navigator Ilana Minor. “On one hand, we offer consulting services for creating a business plan, practicing going to the bank to secure funding, marketing. Then, we have this grant that’s out right now. Because this is COVID funding, we’re really here to help support the businesses that were here during COVID and then help with the businesses that are coming in to replace the ones that closed during that time. The grants can be used for inventory, software, hardware, as well as first-time certification and licensing fees.”
Young’s Menswear originally opened in the 90s as “Young’s Formal Wear.” Myrick took it over and adjusted its focus last summer.
“Ron and Jena Young started this business doing rentals for weddings and proms, then they started doing men’s clothing in the last few years,” he said. “We changed the name because we’re all-inclusive. We do retail now. We sell suits, dress shirts, ties—we’re the only place in Escanaba that you can buy a tie. We’ve been growing the business and taking it to the next level.”
The Hub awarded more than $100,000 to the first-round grant recipients. Young’s Menswear used its $5,000 to digitize its operations.
“We were still all pen and paper, so we were able to get some computers, barcode scanners, iPads to inventory and keep track of all our rentals and then up front for our retail inventory as well,” said Myrick. “For our customers, we keep track of all their information. It just is a better flow for the business.”
To qualify for the grant funding, businesses must be independently owned and operated and have fewer than 500 employees. According to Minor, another requirement is to be actively engaged with the Hub.
“What that means is they are working with us, they’re meeting with us as needed,” she explained. “One thing that’s unique about our program is that we send them the application, so it’s not just something people can go find online. We talk about the person’s business and their needs, their vision, and how what they want to purchase will help them.”
In the next round of funding, businesses can apply to receive up to $10,000. Applications are open now through February 14. Business owners who want to learn more about the Central Upper Peninsula Small Business Support Hub as soon as possible.
“The benefits are out there and people just don’t know about them,” Myrick said. “To be able to reach out to local people who are willing to help small business owners like myself compete with the bigger guys and help transition and make your business continue to grow, I wouldn’t miss out on the opportunity.”
“This is a great avenue to practice looking for grants, applying for grants, gaining access to a network of business resources that are all across the U.P.,” said Minor. “We can get people to the resources to make sure they’re not overpaying for things and make sure they’re receiving as many benefits that they can as they go through their journey.”
Other businesses that received grant funding in the first round include LeverEdge Chiropractic of Escanaba, Rock Electric Service of Gladstone, Little Agate and Caught Dreamin’ Therapy of Marquette, and Yooper Fitness of Manistique.
To get connected with the Central Upper Peninsula Small Business Support Hub, click here to fill out a client intake form. Click here for more details on grant opportunities and eligibility requirements.
Young’s Menswear is located at 1119 Ludington Street. For more information on products and services available, visit the Young’s Menswear website or Facebook page or call (906) 786-2526.
