FORT WAYNE, Ind. (21Alive) -- You've heard the saying: “Small businesses are the engine that fuels our economy” and that's true here in Northeast Indiana too.
Small businesses employ about 60 % of the workforce and represent the bulk of new job growth. Those businesses need support as they grow and thrive, and many of them are getting it with the help of one organization.
It's a subject 21Alive will be looking at closely in the months ahead. Today, we share the story of one local small business and how it overcame its growing pains.
Robert Frost started Wolfpack Chassis with a partner in 2011. The small company manufactures chassis for the RV and manufactured housing industry. The business took off, with 25 full-time employees and it grew more than 50% just last month. But with growth comes challenges.
“We were sort of outgrowing our working capital which is a good problem to have,” Frost explained. “The option is either to slow down, which means to have to tell customers no, and that's not a good thing when you're a start-up company or you miss deliveries or have problems.”
Frost turned to Elevate Ventures for help. Elevate Ventures was formed in 2011 as a non-profit operation designed to manage state funds and assist high growth, high potential companies.
A recent study found that over the past 18 months, Elevate had more than $154 million of economic impact in Northeast Indiana, affecting 420 jobs. The organization not only assists start-up companies but helps companies which have plateaued get to the next level.
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