November 24, 2015

Boot Camp for Inner-City Small Business Owners

SMB IT Budgets and Staffing Hit Hard by RecessionDo you know about the Small Business Administration’s Emerging 200 (e200) initiative? The program identifies 200 inner-city businesses across the country that show high-growth potential, and then gives them the resources and motivation they need to take their businesses to the next level.

The e200 initiative has been so successful that the SBA just announced plans to expand e200 in 2010. Twelve new communities, emphasizing those areas with Native American business owners, have been added to the 10 markets e200 currently serves.

For 2010, the e200 program will be offered in the following cities:

Urban Markets
• Jacksonville, Florida
• Dallas
• Atlanta
• Des Moines, Iowa
• Boston
• Baltimore
• Detroit
• Philadelphia
• Memphis
• Chicago

Native American Communities
• Denver
• Albuquerque
• Gallup, New Mexico
• Portland, Oregon
• Milwaukee
• Tucson
• Phoenix
• Oklahoma City
• Tulsa
• Santa Ana, California
• Seattle
• New Orleans

The e200 initiative has fueled success for many of the entrepreneurs who have participated. According to SBA Administrator Karen Mills:

“Over the last few years e200 has been a catalyst for expanding opportunities for many promising small businesses in underserved communities , [particularly those that were] most impacted by these tough economic times. Graduates of the program have increased their revenues, created jobs and helped drive local economic growth in their communities. SBA’s commitment to not only continue, but expand the program, will build on this success and provide even more entrepreneurs in underserved communities with the support, resources and skills to succeed.”

So far, more than half of the businesses that have taken part in e200 have increased their revenues and nearly two-thirds have created new jobs. Entrepreneurs who complete the training have received more than $9 million in new financing, and have been awarded $1.3 million in government contracts.

This program isn’t for the faint of heart, however — it’s essentially a business boot camp. Participants have to commit to nine months of training, including some 100 hours of classroom time. As part of the program, they work with experienced mentors, attend workshops and network with other business owners, government leaders and financial resource providers in their communities

The 2009 e200 class will be graduating soon. Recruitment for the 2010 class starts in January.

Find out more about e200.

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About the Author: Rieva Lesonsky is CEO of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America ‘s entrepreneurs for nearly 30 years. Follow her on Twitter @Rieva and visit SmallBizDaily to read more of her insights on small business.

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Rieva Lesonsky

Rieva Lesonsky Rieva Lesonsky is a staff writer for Small Business Trends covering employment, retail trends and women in business. She is CEO of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Follow her on Google+ and visit her blog, SmallBizDaily, to get the scoop on business trends and sign up for Rieva’s free TrendCast reports.

3 Reactions

  1. Sometimes big business comes from small business what we must do was concentrating and take care of the business and it will lead to success. Electrical wiring Service Oklahoma city

  2. That is some inspirational stuff. Never knew that opinions could be this varied. Thanks for all the enthusiasm to offer such helpful information here.

  3. e200 plan is really going to make a difference. I think it will help both business and people.

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