SBA seeks applicants from inner city businesses for entrepreneurship program
By Jonathan Greene
Published: March 20, 2017
The United States Small Business Administration (SBA) is looking for inner city small business owners located in Paterson or other urban areas in New Jersey to participate in its fourth Emerging Leaders Initiative, a seven-month intensive entrepreneurship education series held at Rutgers Business School in Newark.
There’s no out of pocket expenses for business owners. However, the program requires 100 hours of classroom time for training. Business owners and executives will have opportunities to work with experienced mentors, attend workshops; network with peers, financial communities, government officials, and business leaders.
“The Emerging Leaders Initiative advanced training series is open to small business owners and executives who have annual revenues of at least $400,000; have been in business for at least 3 years; and have at least one employee, other than self,” Al Titone, director for the SBA New Jersey district, said. “Between now and March 24 we are looking for the 17 best and most qualified small business owners who meet this criteria and are committed to taking their businesses to the next level.”
Business owners from Paterson, Newark, Asbury Park, Atlantic City, Bridgeton, Camden, Carteret, Dover, East Orange, Elizabeth, Englewood, Hackensack, Hillside, Irvington, Jersey City, Linden, Millville, Morristown, New Brunswick, Neptune, Passaic, Perth Amboy, Plainfield, Pleasantville, Rahway, Roselle, Teaneck, Trenton, Vineland, and Willingboro qualify for the program.
The executive-level training series is available in 55 cities and communities in the U.S. Though this is the fourth class in Newark, the program is in its tenth consecutive year. More than 4,000 small business owners in underserved communities have been trained through the program to expand their businesses and create jobs in their local communities.
“Nationwide, 70 percent of the graduates of this program have increased their revenue, while 80 percent have either created new jobs or retained all existing jobs. Graduates of the program have also gone on to secure $700 million in secured government contracts. Last year’s SBA Emerging Leaders initiative graduated 775 small businesses, representing its largest graduating class,” Titone said.
Deadline to submit application is March 24, 2017 and classes start on April 11, 2017. For more information about the program contact Dominick Belfiore of the SBA New Jersey district office at (973) 645-3683 or email him at [email protected].