Home > in the community, resources > SBA Expands E200 Emerging Leaders Initiative: Maintains Focus on Underserved Communities

SBA Expands E200 Emerging Leaders Initiative: Maintains Focus on Underserved Communities

February 11, 2011 Leave a comment Go to comments

The SBA Portland announced today that it will continue and expand the e200 Emerging Leaders’ executive-level training initiative for small business entrepreneurs, to include Native American business owners.

“I am very excited to be hosting the e200 executive training initiative once again in Portland. The initiative is a challenging program that enables top small business executives to participate in an intensive and comprehensive curriculum. The focus will be on developing growth strategies (3-5 year plans, new markets), access to new capital to fuel growth; mentoring and other training to target potential contracts in the local and federal government arena. This initiative is designed to accelerate the growth of companies that are poised for sustained expansion,” said SBA Portland Acting District Director, Robert S. DuCote.

“Over the last few years e200 has been a catalyst for expanding opportunities for many promising small businesses in underserved communities – in particular those who have been most impacted by these tough economic times,” SBA Administrator Karen Mills said. “Graduates of the program have increased their revenue, 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.”

Despite the recent recession/no growth economy, more than half of the businesses that have completed the e200 training have shown an increase in revenue of over $7 million. Nearly 60 percent have reported creating new jobs in their communities.  Surveyed entrepreneurs also reported having secured nearly $10 million in new financing for their businesses, with an increase in confidence when applying for government contracts. As a result, post-trainees have reported securing nearly 500 federal, state and local contracts, worth more than $112 million.

Since its inception, e200 has identified business owners across the country who show a high potential for growth in underserved markets—and provided them with the training, networking, resources and motivation required to expand operations and create jobs.

This initiative for entrepreneurs in underserved markets has been a catalyst for expanding opportunities for both urban small business owners and, more recently in 2010, added emphasis on Native American communities. There were 121 urban area graduates in 2010 and 125 from Native American communities, with the combined 246 graduates representing the largest graduating class since the e200 initiative began in 2008.

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. Last year the Portland District of the SBA successfully graduated 16 businesses from the program.

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: