Helping small businesses thrive in the Bronx

In just a few years at the helm of the Bronx Economic Development Corporation Rob Walsh said he has come to know the best way to strengthen and expand businesses in New York. “The key piece has been to focus where small businesses have the greatest need and the greatest need right now is getting capital access,” Walsh said, less than six months into his tenure as the corporation’s president. He previously had served as the interim president since October of 2022. 

Walsh, a former New York City Small Business Services Commissioner, in an interview with New York Nonprofit Media highlighted some of the initiatives the corporation has launched to address the Bronx’ historically limited access to grants and resources, including the corporation’s small business loan program funded by empowerment zones. Walsh also noted the challenges small businesses face in navigating government and the improvements made under Eric Adams’ administration.

“I think Mayor Adams and his team are doing everything they can to eliminate some of the hurdles of doing business with the city in lining up permits, showing businesses what agencies to go to and more,” he told NYN. “But on top of that, for a good population of the Bronx, English is a second language. So in many cases there are language barriers to doing business with the government.” 

Under Walsh’s leadership, the corporation launched the Bronx Green Action Challenge for the borough’s institutions of higher education to boost environmental stewardship. The funding, provided by the New York Power Authority, was for creating a project focused on sustainability and the climate. 

“One of the real gems of The Bronx is the fact that we have a dozen colleges and universities,” said Walsh. “We decided to reach out to each of the presidents of the 12 colleges and ask: what are you doing in this area of environmental sustainability and if you had a million dollars what more would you do?” Bronx Community College landed the funding and launched a workforce plan that includes enhancements on their campus, eliminating food waste, and initiating new solar initiatives. “My feeling is that not only is the Bronx Community College getting the million dollars, but we ended up getting all of the colleges and universities to look at other foundations and other green resources because it’s important,'' said Walsh.

Walsh also worked for approval of an SBA Community Advantage Loan Program which will allow the Business Initiative Corporation of New York to supply working capital loans from $5,000 to $35,000 to businesses throughout the borough. The SBA, which is guaranteeing 85% of the funding, and certification complement the efforts of the corporation in getting loans out. 

“When banks want to work with us in partnership it’s important that they see that the SBA is going to be backing us with 85% guarantees and it makes it more attractive to get partnerships not only from small businesses, but also from some of the other financial lenders,” said Walsh. 

Another initiative that the corporation has focused on is a storefront improvement initiative, backed by a grant from the Empire State Development Corporation. “I’m a former business improvement district director and not only do you want to make your neighborhoods cleaner and safer, but you want to make them appealing and attractive,” Walsh told NYN Media. “One of the ways to do that is by enhancing the appearance and the look of storefronts.” 

The corporation reached out to a number of retail corridors in the South Bronx, asking merchant leaders, community leaders, local development corporations, and business improvement districts to plan and strategize how they would enhance their neighborhood. Twelve storefronts were chosen in the first round and more are expected to be announced. “This is a partnership with the state. The storefronts are being designed as we speak, and they’ll be fabricated and we’ll get them up in a couple of months.” said Walsh.

Walsh, who has a background of running business implement districts, said he sees the corporation playing “a greater role in sharing best practices, helping them market better use of social media, sharing information on the best way to come up with a strategy and a game plan for their retail quarter.” He also expressed a desire to tap the resources of the city’s Business Solution Center, which was set up during the Bloomberg administration to help businesses navigate government, certify as minority and women owned businesses, and provide training. 

“I think that we can end up setting up something that is pretty powerful. That is where I want to catapult this organization – to where we are a one stop for business services in the Bronx,” he told NYN. “Whether it’s capital access, helping businesses with a business plan, or teaming up with the business schools in the area and helping businesses get on the right track or expand in the Bronx.”

“What I want to do is make sure that our organization amplifies what is happening through things like the Green Action Challenge and other initiatives,” Walsh added. “I think if we get the business solutions center, we can knit together the business programs of our colleges and universities and I think that’s very powerful.”