SBA Looks to Inner City Firms to Participate in its 2017 Emerging Leaders Class in Newark

NEWARK – The U.S. Small Business Administration New Jersey District Office is ramping up its fourth Emerging Leaders class, an intensive executive-level entrepreneurship training program for small business owners located in Newark and other inner cities across the state.
According to SBA New Jersey District Director Al Titone, the seven-month executive intensive entrepreneurship education series starts on April 11 and will be held at the Rutgers Business School in Newark. The program has no out-of-pocket expense for participants, but has a significant time requirement that calls for approximately 100 hours of classroom time per participant. In addition to the training, small business owners will be given the opportunity to work with experienced mentors, attend workshops and develop connections with their peers, city leaders and financial communities.
“The Emerging Leaders Initiative advanced training series is open to small business owners and executives who have annual revenues of at least $400,000; have been in business for at least three years; and have at least one employee, other than self,” said Titone. “Between now and March 24, we are looking for the 17 best and most qualified small business owners who meet this criteria and are committed to taking their businesses to the next level.”
While the program is aimed at businesses in Newark, Titone noted that his office would welcome potential candidates from Asbury Park, Atlantic City, Bridgeton, Camden, Carteret, Dover, East Orange, Elizabeth, Englewood, Hackensack, Hillside, Irvington, Jersey City, Linden, Millville, Morristown, New Brunswick, Neptune, Passaic, Paterson, Perth Amboy, Plainfield, Pleasantville, Rahway. Roselle, Teaneck, Trenton, Vineland and Willingboro.
According to Titone, the SBA Emerging Leaders executive-level training series is now available in 55 cities and communities across the country. Entering its tenth consecutive year, the initiative has trained more than 4,000 promising small business owners in underserved communities, and continues to expand its impact of helping small businesses grow and create jobs.
“The results are in and the Emerging Leaders initiative has shown that it has a proven track record of helping small businesses in underserved communities,” said Titone. “Nationwide, 70 percent of the graduates of this program have increased their revenue, while 80 percent have either created new jobs or retained all existing jobs. Graduates of the program have also gone on to secure $700 million in secured government contracts. Last year’s SBA Emerging Leaders initiative graduated 775 small businesses, representing its largest graduating class.”
“Over time, the Emerging Leaders initiative has been a catalyst for expanding opportunities for underserved communities,” added Titone. “We are excited about recruiting and interviewing candidates for our fourth class here in Newark. Our primary goal is to get inner city small business owners, who are poised for next-stage growth, and provide them with the necessary support, resources and skills to help them to achieve long-term success.”
Local recruitment for the 2017 training cycle is underway for the Newark initiative and classes are scheduled to begin in April. Information on eligibility requirements and how small business owners can apply to participate in the program can be found at www.sba.gov/emergingleaders. The online application to be considered for the 2017 Emerging Leaders initiative in Newark can be found at www.interise.org/sbaemergingleaders.
For additional information about the Emerging Leaders program, contact Program Coordinator Dominick Belfiore of the SBA New Jersey district office at (973) 645-3683 or by emailing him at Dominick.Belfiore@sba.gov.