The Michigan District Office of the Small Business Administration (SBA) formally kicked off the Emerging 200 Initiative in Detroit on January 14. The goal of e200 is to identify inner-city businesses that show a high potential for growth and to provide them with the network, resources, and motivation required to build a sustainable business within a designated inner-city geographic location. The recent selection of Detroit as an e200 city is a prestigious one as it is one of only 15 cities nationally that have been chosen. Those joining the SBA District Office to bring e200 to Detroit are: Detroit Economic Growth Corporation, Detroit Regional Chamber, Mayor’s Office of Targeted Business Development, Michigan Economic Development Corporation, Michigan Minority Business Development Council, Michigan Small Business & Technology Development Center, and TechTown.
The cornerstone of e200 will be an in-depth educational program for senior executives running approximately 60-80 hours (likely two half-days per month) for six months. It will focus on such topics as organization management, growth strategies and management, market development, and strategic planning. “We’re pleased, along with our partners, to bring Emerging200 and its MBA-style environment and program to Detroit,” said Richard Temkin, SBA Michigan District Director. “We hope eligible small businesses will take full advantage of this tremendous opportunity.” Participation in e200 is free to qualifying businesses. Criteria for participation include having been in business for a minimum of three years, approximately $400,000 or more in gross annual revenues, and a business location within the inner-city geographic boundaries defined by the SBA. Participation will be limited to only 20 businesses.
For more information, e-mail: Constance Payne Logan at email@example.com
This information provided courtesy of SBA, Michigan District Office, ‘Small Business Beat’ publication, Winter 2009 Edition