Community News
Minority Business Academy Launched
The independent Minority Business Academy (MBA), spearheaded by the Minority Owned Business Foundation and led by Tawonda Burks, is set to provide valuable and targeted support to aspiring small business owners. This initiative empowers minority entrepreneurs by offering the resources, mentorship,
development resources. Programs will be tailored to meet the unique challenges and needs of minority-owned businesses, ensuring that participants gain the skills and support required to succeed in today’s competitive marketplace.
By joining the EDC ecosystem, the MBA will benefit from the collaborative environment promoted by other resident organizations, enabling participants to connect with established entrepreneurs, financial experts, and business advisors. This partnership creates a dynamic environment for learning and growth, with a shared goal of driving economic development and business success across the region.
and education needed to launch and grow sustainable businesses. The MBA will be housed within the Economic Development Center (EDC), sharing space with notable organizations such as Rochester Area Economic Development, Inc. (RAEDI), Small Business Development Center (SBDC), 504 Corporation, SCORE, and Collider.
“Providing good jobs is essential, but creating a pathway to business ownership is even better,” said John Wade, President of Rochester Area Economic Development, Inc. “This independent initiative is vital for our community, and I strongly encourage both the public sector and private businesses to step up and support this significant undertaking.” The Minority Business Academy seeks to close the gap in entrepreneurial resources available to minority communities by offering practical training, technical assistance, and access to a strong network of business
The launch of the Minority Business Academy represents an important step toward promoting economic equity and inclusiveness. Under the leadership of Tawonda Burks, the Academy will deliver measurable results, empowering more individuals to achieve financial independence through business ownership. For more information on how to support or participate in the Minority Business Academy, please contact Tawonda Burks at tburks@elocina.com or 507-990-7223.
Updated Minnesota Minimum-Wage Poster Available
Minnesota’s minimum-wage rate will be adjusted on Jan. 1, 2025, to $11.13 an hour for all employers in the state. During the 2024 legislative session, Minnesota’s minimum wage law was revised to eliminate the reduced minimum wages applicable for small employers (defined as annual gross revenues less than $500,000), youth under the age of 18 and J-1 visa workers. These minimum wage changes are effective Jan. 1, 2025. Effective Jan. 1, 2025, the state’s minimum-wage rate for all employers, including large employers, small employers, youth and J-1 visa wages for hotels, motels and lodging establishments, will increase to $11.13 an hour. The law still allows for a 90-day training wage for workers under age 20. The current hourly training wage, $8.85, will increase to $9.08.
The state's free, mandatory minimum-wage poster has been updated and is available to print or order from the Department of Labor and Industry (DLI) website at www.dli.mn.gov/posters Minnesota law requires employers to display required workplace posters in a location where employees can easily see
them. The free posters can be printed or ordered individually or as a poster pack.
DECEMBER 2024 — ROCHESTER AREA CHAMBER OF COMMERCE ADVANTAGE MAGAZINE | 33
Made with FlippingBook - professional solution for displaying marketing and sales documents online