It’s no secret that Omaha has a thriving economy. Our town is home to not one, but five different Fortune 500 companies (sometimes referred to as “The Fab Five”), and because of our rapid growth in several industries, it’s one of the best cities for job-seekers in the country.
We hear a lot about the successes of large, established companies, but Omaha thrives on our small business network of local artisans, makers, boutiques and restaurants — all of which add to the unique atmosphere of our community and help boost the middle class.
But small businesses are facing an uphill battle when it comes to getting their start. In fact, only 20% of small businesses make it past their first year of operation. There are multiple challenges that contribute to this, but one of the major obstacles small business owners face is lack of access to capital — funds to grow or to rent an office space. That’s where Omaha Small Business Network comes in.
Omaha Small Business Network (OSBN) aims to crush the survival statistic by giving small businesses a boost early on in the game with micro lending, professional development, technical assistance and affordable commercial office space for rent. We spoke to the executive director of the organization, Julia Parker, to learn more about OSBN and why small businesses are so vital to the Omaha economy.
The Mission Behind OSBN
OSBN was established in 1982 to respond to a need in East Omaha to support and promote entrepreneurs and small business owners. At the time, there weren’t many organizations focused on small business health and lending. In fact, OSBN was one of the very first micro lenders in town.
Julia Parker has served as executive director for five years now, and her role is to oversee the mission, vision and goals of OSBN, ensuring that they stay aligned with their original purpose — to support the community. She worked at another local nonprofit before she joined OSBN, and jumped right into the position, ready to hit the ground running.
She and her coworker, Lillie Hooks, are passionate about helping small business owners, creatives, artisans and makers survive not just past their first year, but past the five-year mark, the ten-year mark and beyond.
“Small business ownership spurs economic growth. It gives the city a great tax base and it’s also a great pathway to the middle class,” says Julia. “Shopping local and supporting local further contributes to the economic viability of Omaha.”
How OSBN Works
OSBN offers three core programs to small business owners: professional development and technical assistance (which supports business plan development and business growth), micro lending (OSBN lends amounts anywhere from $1,000 to $50,000 to help business owners achieve their goals) and below-market-rate commercial office space for rent. This is all done throughout North Omaha.
Small businesses need additional funds to grow and expand, which is a difficult sell with a traditional banker. OSBN is able to work one-on-one with the individual, truly listening to their needs and goals to help them create a plan for success. It’s not just about the money, it’s about having a roadmap to make the money go to good use.
In fact, the one piece of advice that Julia would give to small business owners is this: “Every small business owner should have a working business plan. Something on paper that shows the guiding principles of their business. Otherwise, it’s very easy to get lost in the trenches of being a small business owner.”
With the challenges that local artisans face, the constant distractions and the temptation to be pulled in another direction if something doesn’t work out the way they want it to, sticking to a plan for success is vital. And more often than not, this works out in their favor.
Currently OSBN has 19 small businesses housed in the BTC, but once they have their feet under them, many will move on to purchase their own buildings and make a larger mark on the Omaha Community. For example, All American Meat, a high-quality beef wholesale company, was initially a tenant in the BTC back in 1996. The company started with 5,000 square feet in the BTC, but over the years have gotten their products into Walmart and Walgreens and purchased a building of their own. It’s a true Cinderella story right here in Omaha!
How to Reach OSBN
Small business owners can contact OSBN through the website or in person at 2505 North 24th Street, Omaha. Julia and her team will work one-on-one with you to help make your business flourish!
You can also find OSBN on Facebook, Instagram and Twitter, or give them a call at 402-453-5336.