SBA Expands 'e200' Initiative to More Cities, Adds Focus on Native American Business Owners
Thursday, November 12, 2009
Release Date: Nov. 12, 2009
Contact: Dennis Byrne (202) 205-6567
Release Number: 09-79
Internet Address: http://www.sba.gov/news
SBA Expands ‘e200’ Initiative to More Cities,
Adds Focus on Native American Business Owners
Mills: Initiative has been catalyst for expanding opportunities for
promising small business owners in underserved communities
WASHINGTON – The U.S. Small Business Administration announced today that it will expand the Emerging 200 (e200), an executive-level training initiative for small business owners, in 2010. The initiative will continue in 10 cities that have participated in the past, and expand into 12 communities with an emphasis on Native American business owners.
“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.”
The expansion of e200 to Native American communities coincides with the President’s appearance before Tribal Leaders on November 5th in Washington, DC, during which he promised that the Administration would work with the Native American community to build economic prosperity. As the President acknowledged that some of the reservations face unemployment of up to 80 percent and roughly a quarter of all Native Americans live in poverty, he stated his commitment to being “full partners in the American economy … so [their] children and … grandchildren can have an equal shot at pursuing the American Dream.” The expansion of e200 is part of the Administration’s pledge to achieve these goals.
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.
To date, more than half of the businesses that participated in e200 have seen an increase in revenue, and nearly two-thirds have created new jobs. Entrepreneurs who have completed the training have secured over $9 million in new financing for their businesses. Increased confidence in applying for government contracts among trainees has resulted in over $1.3 million awarded to participating small businesses.
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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.
For a full list of cities hosting the e200 initiative in 2010 please see below:
· 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.
In the coming weeks, e200 will graduate its third class across the country. For more information about upcoming graduation ceremonies in your community, please visit www.sba.gov or contact your local SBA District office.