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.
Starting today, Mercy Corps Northwest is hosting a 6-week series of business classes taught by Portland Ten, an entrepreneurial development organization that assists founders in increasing revenue through better time and resource management as well as business and product development.
The class series “Six Week Sprint” features 12 classes on an array of topics including legal, product management, venture capital, entrepreneurship, accounting, finance, sales, marketing, HR, and more. Community Members are encouraged to attend ($30 per class, pay at the door, cash or check only). There is no pre-registration, but space shouldn’t be an issue.
The first four topics have been announced, with more to come:
16 Things That Indicate You’re An Entrepreneur Who Gets It
Instructor: Portland Ten Director, Carolynn Duncan
Tuesday, Oct 12, 3-5 pm at MercyCorps NW, 43 SW Naito Parkway
Managing Team & Product through Minimum Viable Product to Sales
Instructor: ShopIgniter founder, Alan Wizemann
Thursday, Oct 14, 3-5 pm at MercyCorps NW, 43 SW Naito Parkway
Legal: Basics of Company Formation
Instructor: Davis, Wright, Tremaine Lawyer, Steve Davis
Tuesday, Oct 19, 3-5 pm at MercyCorps NW, 43 SW Naito Parkway
Product Management: Ready, Set Launch
Instructor: Amy Winkelman, Product Management Consultant
Thursday, Oct 21, 3-5 pm at MercyCorps NW, 43 SW Naito Parkway