Entrepreneurship
Marilyn Jones, who started her own green printing business in Chicago, is getting marketing and business management advice from her mentor, veteran entrepreneur Jay Goltz.
Small businesses comprise 99 percent of inner-city establishments and account for more than 80 percent of inner city jobs. In addition, entrepreneurship is a critical pathway to the middle class, as business ownership is second only to homeownership in contributing to household wealth. CEO’s entrepreneurship efforts promote economic growth in economically distressed and emerging communities by enlisting Americans with business expertise to help local entrepreneurs compete and succeed. CEO’s entrepreneurship efforts currently are focused on two major programs:
Entrepreneur Mentoring Program
In partnership with Inc. magazine, CEO’s Entrepreneur Mentoring Program is building mentoring communities in several cities nationwide, including Oakland, Chicago, New York, and Newark, by pairing inner-city entrepreneurs with successful business leaders and entrepreneur mentors. Over the course of the program, mentors help entrepreneurs:
- Develop a better understanding of their business and industry;
- Become better leaders and sharpen their business acumen; and
- Make better decisions on the critical issues facing their company.
EMP Cities
Chicago: EMP, launched recently in Chicago, is working to spur economic growth by enlisting highly successful Chicago-based entrepreneurs to mentor local small businesses. Read about the recent launch of the program in Chicago.
The EMP in Chicago was developed in collaboration with Mayor Richard M. Daley’s Office, the Chicago Urban League, and the Women’s Business Development Center. The Chicago Urban League seeks to provide African Americans in need with the tools, the programs, and the experiences to help them reach their full economic potential. The Women’s Business Development Center delivers business services and financial assistance to empower women toward entrepreneurship and economic self-sufficiency.
New York City and Newark, New Jersey: EMP had its most recent launch in August 2009, and will be working with businesses from New York City and Newark. The EMP worked with many local organizations, including Brick City Development Corporation in Newark and the Brooklyn Chamber of Commerce in New York to develop this program. Brick City Development Corporation is an organization that seeks to retain, attract, and grow businesses; enhance small and minority business capacity; and spur real estate development within Newark. The Brooklyn Chamber of Commerce is dedicated to helping businesses grow and promoting the economic development of Brooklyn.
Oakland, California: In 2008, the EMP was launched in Oakland, California. Oakland was the first city outside of New York where the program expanded. In launching and running the EMP in Oakland, CEO collaborated closely with Mayor Ron Dellums’ Office and with Inner City Advisors (ICA). ICA is a well-respected, community-based nonprofit organization that works to build the inner-city economy in Oakland by providing business services and strategic direction to emerging entrepreneurs.
Philadelphia: CEO is in the process of developing its Entrepreneur Mentoring Program to launch in Philadelphia. More information coming soon!
Harlem Restaurant Program
In 2008, the CEO created the Harlem Restaurant Program (HRP), an eight-month self-directed professional development and business improvement effort for established restauraunteurs in the community. A series of tools and workshops focusing on sales and marketing, finance, operations, and management will allow restaurateurs to:
- Better understand their industry and keep up with industry trends;
- Better address the specific issues and challenges they face daily; and
- Connect with local restaurateurs in Harlem.
The Foundation’s work with inner-city entrepreneurs started in 2002 with a small business consulting program in New York City in partnership with Booz & Company, New York University’s Stern School of Business, and the New York chapter of the National Black MBA Association. To date, the program has provided more than 72,000 hours of pro-bono technical assistance worth more than $15 million to local entrepreneurs.
PROFILE
Susan Doban had an award-winning architectural firm, but when she decided to expand, she enrolled in CEO’s Entrepreneur Mentoring Program to learn how to position her business for sustainable growth.
