Mastercard VP Amber Dawkins was minutes into her presentation about Mastercard's Small Business Community at their Empowering Small Business event when entrepreneur Ruby Ghosh raised her hand to ask about the cost of the program.

• "Zero, it's free," Dawkins, Mastercard's VP of North America Product Management, said. "At Mastercard, we firmly believe in doing well by doing good, so we created this as a resource."

The impact: Ghosh, owner of Opti 02 and a physics professor at Michigan State University, was shocked.

• "So many resources with this level of technology require an input of money," she said, explaining her surprise. "I wish I had known that it existed earlier."

Why it's important: "Small businesses form 99.9% of the businesses in our economy," said Mike Kresse, Mastercard's EVP of Commercial and New Payment Flows. "They account for close to half the jobs in our economy and 60% of all new jobs."

• "Small businesses are the backbone of every town, every state and of our nation."

What you need to know: Mastercard hosted this small business event in Lansing to convene small business owners, policymakers and industry experts from across the state for mainstage conversations and an interactive workshop, co-hosted with the Michigan Economic Development Council (MEDC).

• This event was designed to hear directly from business owners about the reality of running a business today, the challenges they face, and the opportunities they see for growth.
• These meaningful conversations matter — they connect business owners with government agencies and local banks help provide critical education on what's available across public resources, grant programs and more.
• They also help Mastercard plan for future products and solutions that will better equip businesses to succeed in this complex economy.

The details: Mastercard and MEDC covered important topics like access to capital, cybersecurity, AI, marketing and how the right resources can boost efficiency, safeguard operations, and spark innovation.

The workshop also included a special presentation on the impact of Michigan's innovative Small Business Support Hub (SBSH) program, led by MEDC Small Business Services Director Jay Williams and Meg Chamberlain, a project manager with Public Policy Associates.

• The SBSH program designated 27 Michigan economic development organizations as "Hubs" in 2023.
• They have made more than $5.7 million in investments since.
• These "Hubs" serve small businesses through one-on-one consulting, group courses, access to capital through grants and other specialized services.

Some examples: The West Michigan Hispanic Chamber of Commerce is a Hub whose specialized services include bilingual services, and the Small Business Association of Michigan offers a specific program for women entrepreneurs.

• "Their stories are the ones we want to push up," Williams said before announcing that the program received an $11.3 million continuing appropriation in the state's recent budget.

Mastercard Vice President of Social Impact Sandy Fernandez, who led the conversation, has seen a lot of economic impact programs throughout his career — but the SBSH program stood out as a model.

• "The way the Hubs share knowledge and information to bridge geography," Fernandez said, "is really powerful in economic development."

Here's what else: Lansing Mayor Andy Schor localized the conversation, highlighting why Michigan's capital city is a particularly good place to open a new small business.

• "There's just a lot going on here," Schor said. "And that's shown by the number of people that want to live here."

U.S. Rep. Tim Walberg (R-MI) zoomed out to talk about initiatives at the federal level that are designed to help small businesses of all kinds stay competitive and sustainable in a changing market.

• "[Small business owners] are looking for people who are trained and ready. If we can ramp that up by getting people into short-term training experiences, knowing that [skills] can be developed over time, that's huge for a workplace,'" he said.

Worth a mention: Lansing economic leaders were also in attendance and understand the reality of small business ownership in the U.S. — from high failure rates to the challenges of navigating complex financial systems, appreciating the opportunity to advance the conversation with Mastercard and its partners on ways to power the economy.

Lansing Economic Area Partnership (LEAP) Chief Equity Development Officer Tony Willis was also a part of the mainstage conversations and spoke about how LEAP helps to lead impactful programs like the free One & All program for aspiring entrepreneurs.

• "We know that small business ownership is a wealth-building activity," Willis said on stage. "We want to make sure those benefits are being held by anybody and everybody."

Allison Cisneros sat in the audience listening. She recently completed the One & All program for her new LLC, Mustard Seed Mountain, a homestead community for autistic adults.

• "I'm also autistic myself, and LEAP really accommodates everyone," she said. "I'm feeling very, very supported."

Take note: Spearheading the conversation among community leaders in Lansing was just one way Mastercard shows its commitment to small businesses.

Other Mastercard resources that can educate and better equip small business owners include:

• Digital Doors: Helps get your business online, protected and equipped with the right digital and financial tools.
• Small Business Navigator: A new offering including education, insights and planning tools for small business owners.
• Mastercard Strive USA: Philanthropic small business development program, helping businesses get access to capital, go digital, and grow networks.
• Small Business AI: A conversational generative AI coach helping guide small businesses.

The takeaway: Small businesses are the building blocks of America's economy and local communities. Mastercard is working to ensure those businesses have the resources they need to grow by delivering digital tools, insights and intelligence, and ways to connect with its network of partners.

Join Mastercard's small business community.