The Charles County Economic Development Department (EDD) has announced the results of its Economic Impact Survey for the Business Growth Advantage Program (BGAP), showcasing the program’s transformative influence on local businesses. Established in 2022 to address the economic challenges exacerbated by the COVID-19 pandemic, BGAP has fostered job creation, revenue growth, and access to new opportunities for entrepreneurs across Charles County.
“We are thrilled to see BGAP’s tangible impact on job creation, revenue growth, and business expansion,” said Kelly Robertson-Slagle, EDD Director. “These results reflect our commitment to empowering local entrepreneurs and ensuring their long-term success, which benefits the economic vitality of Charles County.”
Survey Highlights Program’s Success
The survey collected data from over 100 BGAP graduates, revealing key achievements in job creation, financial growth, and business resilience:
- Job Creation: Nearly half of respondents (48%) reported creating new full-time or part-time positions. Among them, 30.63% added 1-2 full-time jobs, while 56.36% created 1-2 part-time positions.
- Revenue Growth: More than 73% of graduates experienced revenue increases after completing the program. Of these, 44.44% reported a growth of 0-10%, while others saw increases as high as 50% or more.
- New Opportunities: Approximately 66% of participants gained new business opportunities, thanks to BGAP’s mentorship and training resources.
- Business Resilience and Expansion: Graduates credited BGAP for providing leadership development, wellness support, and strategies for sustainable growth, equipping them to navigate challenges and pursue expansion effectively.
Empowering Local Entrepreneurs
Since its inception, BGAP has completed 11 cohorts, graduating 151 businesses and distributing $1.4 million in grant funding to meet working capital needs. Though the program officially concluded, its legacy continues to resonate, underscoring the importance of investing in local entrepreneurship.
“The participants’ dedication and resilience were central to BGAP’s success,” said Robertson-Slagle. “We also extend our gratitude to our Economic Development team for their commitment to managing this program and supporting our business community.”
Funded by ARPA
BGAP was funded by the American Rescue Plan Act (ARPA) to aid small, minority, women, and veteran-owned businesses during the pandemic. The program’s resources spurred innovation and contributed to the economic growth of Charles County.
“We are proud that ARPA funding enabled us to create opportunities for our entrepreneurs,” said Commissioner President Reuben B. Collins. “This investment reinforces our commitment to fostering a thriving and resilient local economy.”
For more information about Charles County EDD initiatives, visit MeetCharlesCounty.com.
