SBA Graduates 250 Minority Entrepreneurs
WASHINGTON-- Nearly 250 entrepreneurs will graduate from SBA’s 2010 “Emerging 200” (e200) initiative in local ceremonies across the U.S. this month. This week’s ceremonies coincide with Global Entrepreneurship Week and recognition from the President for the small business owners and entrepreneurs who are creating new jobs, strengthening their communities and driving America’s economic recovery.
“Graduates of the program increase their revenue, create jobs and drive local economic growth in their communities.”
e200 is an executive level entrepreneurial development and training course that has helped more than 600 promising small business owners from 22 cities across the country grow their businesses since 2008. Results gathered from a recent survey of past e200 graduating classes show dramatic advances for these small businesses.
More than half of the businesses that have participated in e200 have shown an increase in revenue, and nearly 60 percent have created new jobs. Entrepreneurs who completed the training have secured nearly $10 million in new financing for their businesses and new customers. Increased confidence in applying for government contracts among trainees has resulted in their securing nearly 500 federal, state and local contracts, worth over $7 million in revenues.
This initiative for entrepreneurs in traditionally underserved markets has been a catalyst for expanding opportunities for both urban small business owners, and more recently in 2010 grown into 12 new cities with an added emphasis on Native American communities. There were 121 urban area graduates in 2010 and 125 from Native American communities. This year’s 246 graduates represent the largest graduating class since the e200 initiative began in 2008.
“e200 is a highly effective tool for small business owners in underserved communities to maximize their potential for success,” SBA Administrator Karen Mills said. “Graduates of the program increase their revenue, create jobs and drive local economic growth in their communities."
“SBA’s expansion of e200 to new urban markets and Native American communities this year has made this valuable training accessible to more promising entrepreneurs than ever,” continued Mills. “The training, mentorship and resources that these small businesses have received over the past year will help them take their businesses to the next level, do their part in the national economic recovery and achieve their own version of the American dream.”
The nine-month training includes approximately 100 hours of classroom time per participant and provides the opportunity for small business owners to work with experienced mentors, attend workshops and develop connections with their peers, city leaders, and financial community.
The 22 cities that hosted e200 initiative classes in 2010 included:
Urban Markets
Jacksonville, Fla.
Dallas, Texas
Atlanta, Ga.
Des Moines, Iowa
Boston, Mass.
Baltimore, Md.
Detroit, Mich.
Philadelphia, Pa.
Memphis, Tenn.
Chicago, Ill.
Native American Communities
Denver, Colo.
Albuquerque, N.M.
Gallup, N.M.
Portland, Ore.
Milwaukee, Wis.
Tucson, Ariz.
Phoenix, Ariz.
Oklahoma City, Okla.
Tulsa, Okla.
Santa Ana, Calif.
Seattle, Wash.
New Orleans, La.
