Who is the Financial Consortium?
Through a consortium of local, state, and federal government staff, business development specialists, and numerous banking and financial institutions, the City provides a business opportunity assessment for City of Columbus certified businesses to determine what financial, technical or support services are needed by them to enhance their ability to build capacity and better compete for business opportunities with the City of Columbus. The consortium provides expertise and support in assessing, recommending, and procuring the assistance needed to support the growth and development of BOAP program participants.
Current participating partners include: Huntington Bank - Fifth Third Bank - US Bank - PNC Bank - Telhio Credit - State of Ohio: Small Business Development Centers - State of Ohio: Development Services Agency - U.S. Small Business Administration - R.L. Underwood & Associates - My Company Funding - Buckeye State Bank
What are the Objectives of the BOAP?
The Business Opportunity Assessment Program focuses on three (3) key areas of concern to small businesses:
1. Assessment of the Need for and Access To Capital
2. Assessment of the Need for and Access To Management & Technical Assistance
3. Assessment of the Need for Plant Or Equipment Business Assets
What Are The Qualifications for Participation in The BOAP?
• An existing business headquartered in the City of Columbus
• Certified as MWBE by the City of Columbus Office of Diversity and Inclusion
• Be an established business (in existence for at least 3 years)
• Annual revenues between a minimum of $50,000 and a maximum of $3 million
• Have at least one employee, other than self. 3 employees or more, recommended
What types of businesses participate in the BOAP?
There are currently no restrictions on the types of businesses that can participate. Some examples of participating businesses include: contractors, trucking operations, engineering and professional services providers and food service.
In what ways does the BOAP help my business?
The program is specifically designed to stimulate and support the expansion of your business. The assessment program provides strategies to help you grow and develop your business through the creation of direct points to: accessing capital, management and technical assistance, and City of Columbus government contracting. The Consortium surrounds you with a network of government resources and local business leaders prepared to invest time and energy in your business.
What are the overall benefits of participating in the BOAP?
The end result of the business opportunity assessment program is to prepare and encourage small businesses to move to the next level on their growth trajectory and to help them emerge as self-sustaining businesses that create jobs and build communities.
Frequently Asked Questions
Q. Do I have to complete every section of the Assessment Questionnaire?
A. Yes, an incomplete application will be returned to the applicant.
Q. Is the financial information that I provide confidential?
A. Only the member organizations/companies of the Financial Consortium can view your information per the disclaimer in the application
Q. By signing up for BOAP am I automatically accepted in the program? Am I granted an interview?
A. You are accepted in the pool of candidates eligible to be interviewed however an interview is not guaranteed. Your application will be reviewed and you will be notified by email as to whether or not your company has been chosen for an interview.
Q. Is there a cost/fee to apply for BOAP?
A. There is no cost or fee associated with applying for the BOAP
Testimonial - BBCO Design
bbcodesign.com | 614.443.2624
BBCODESIGN has been involved with the BOAP for about a month so far, and we feel very fortunate to be included in the program. The initial interview process was in depth and allowed me to share our story with the panelists. I was able to tell the advisors about who we are, why we do what we do, and where we would like to go from here as a firm. It was encouraging to hear some of the positive responses during the interview, and resources that are available to small firms in the City of Columbus. We were also assigned a Business Specialist, Ms. Kaelyn Poindexter, to work with and tailor the growth approach to our individual firm needs. Kaelyn has been fantastic!
BBCO is interested in working with various agencies within the City of Columbus, but for a small minority and woman owned firm, this can be somewhat intimidating. The BOAP program has given us confidence as they are guiding us along the way, and making the process much more accessible to us by making the various agencies approachable.
TESTIMONIAL - WARHOL AND WALL ST
warholandwallst.com | 614.383.8434
pleased to be accepted into the City of Columbus’ Business Opportunity
Assessment Program (BOAP). The BOAP has already helped our company begin to
build meaningful relationships with potential clients and partners, and the
team at the City of Columbus’ Office of Diversity and Inclusion is bar none an
incredibly organized, efficient, strategic and helpful group. BOAP has helped
us to network more with City department officials to showcase our branding
solutions, as well as local corporations such as Nationwide.
forward to continuing to fully participate in the BOAP in 2017 and appreciate
the City of Columbus for investing time and resources into small Minority
businesses. The City of Columbus should absolutely fully adopt the BOAP and
programs created in the same spirit. Warhol & WALL ST. looks forward to
being an advocate and supporter of the BOAP.