Entrepreneur Training Initiative Sparks Small Business Growth, Job Creation
NEWARK, NJ– Newark is one of four new cities to have been chosen to participate in the U.S. Small Business Administration’s 2014 Emerging Leaders initiative, an intensive executive-level entrepreneurship training program for small business owners in 27 cities and communities across the country.
Entering its seventh consecutive year, the initiative has trained more than 2,000 promising small business owners in underserved communities, and continues to expand its impact of helping small businesses grow and create jobs. This year, Newark, Washington, D.C., Miami, and, Wichita have been added to the program.
“Emerging Leaders has a proven track record of helping small businesses in underserved communities,” said SBA’s New Jersey District Director Al Titone. “Graduates of the program have increased their revenue, created jobs and helped drive local economic growth in their communities. Adding the City of Newark to the mix helps the SBA build on this success and provides even more entrepreneurs in underserved communities with the support, resources and skills to succeed.”
The seven month executive intensive entrepreneurship education series starts in April and will be held in Newark. The program has no out of pocket expense for participants, but has a significant time requirement that calls for approximately 100 hours of classroom time per participant.In addition to the training, small business owners will be given the opportunity to work with experienced mentors, attend workshops, and develop connections with their peers, city leaders, and financial communities.
“This training is for established business owners only and is not intended for start-ups or people who are thinking about starting a business,” said Titone. “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.”
“Between now and April we are looking for the 15 best and most qualified small business owners who are committed to taking their businesses to the next level,” said Titone.“While the program is aimed at Newark and Jersey City small business owners, we would welcome applications from small firms that have a presence in East Orange, Elizabeth, Englewood, Hackensack, Irvington, Passaic, Paterson and Plainfield.”
Joining the SBA as co-sponsors of the 2014 Emerging Leaders initiative in Newark are the African American Chamber of New Jersey, Brick City Economic Development Corporation, Greater Newark Enterprises Corporation, Morris County Hispanic-American Chamber of Commerce, New Jersey Business & Industry Association, New Jersey Small Business Development Center, and the New Jersey Chamber of Commerce.
“Over time, the Emerging Leaders initiativehas been a catalyst for expanding opportunities for underserved communities,” said Titone.“We are excited about taking a proven formula and bringing it here to Newark.When you see previous Emerging Leader graduates create nearly 2,000 new full-time jobs, since the program’s inception, then you know you have something special.”
In 2013, the initiative graduated nearly 400 small business owners, representing the largest graduating class since the program began in 2008.
Local recruitment for the 2014 training cycle is underway for the Newark initiative and classes are scheduled to begin in April.Information on eligibility requirements and how small business owners can apply to participate in the program can be found atwww.sba.gov/emergingleaders.The online application to be considered for the 2014 Emerging Leaders initiative in Newark can be found athttp://www.interise.org/sbaemergingleaders.
For additional information about the Emerging Leaders program, contact Dominick Belfiore of the SBA New Jersey district office at (973) 645-3683 or by emailing him atDominick.Belifore@sba.gov.
