Interise is proud to celebrate Women's History Month! According to the Nation Association of Women Business Owners, 9.4 million firms are owned by women, employing nearly 7.9 million people, and generating $1.5 trillion in sales as of 2015. To celebrate Women's History Month, Interise is highlighting a few alumni small business owners from Interise's national network of 6,000+ established small businesses in 72 cities nationwide.
For more, check out Interise's StreetWise 'MBA'TM, a game changing capacity-building program recognized by the World Bank and the US Federal Reserve.
Interise's StreetWise 'MBA' provides entrepreneurship education and training for executives of small, poised-for-growth companies that are potential job creators. This intensive executive entrepreneurship series includes nearly 100 hours of classroom time. It also provides opportunities for small business owners to work with experienced coaches and mentors, attend workshops, and develop connections with their peers, local leaders, and the financial community.
Since its inception in 2004, over 6,000 small business owners have taken the StreetWise 'MBA', generating over $300 million in new financing, and securing over $3.16 billion in government contracts.
Read the FAQ below to learn more about the program. Interested in applying? Click here to submit an online application.
Over the course of seven months, participants are given the opportunity to work with experienced mentors, attend specialized workshops and develop connections with their peers, city leaders, and the financial community. Recruitment for the StreetWise 'MBA' occurs on an annual basis. The program incorporates a curriculum that is research-based and nationally scalable, enabling participating businesses to engage in focused development and expansion strategies, including options for accessing new capital and securing government contracts.
Government statistics confirm that underserved small businesses are the engines of sustained economic growth and job creation. Small businesses in underserved cities added close to three times as many jobs to their local economies as large companies over the last decade
Do I qualify to participate?
This training is for established business owners and is not for start-ups or people who are thinking about starting a business. The StreetWise 'MBA' program is open to small business owners and executives that:
- Have annual revenues of at least $250,000
- Have been in business for at least 3 years
- Have at least one employee, other than self
- Customized training for “C” (CEO, COO, etc.) level executives with demonstrated business sustainability of at least 3 years in business and annual revenue of at least $250
- A three-year strategic growth action plan with benchmarks and performance targets to help the participant emerge as self-sustaining businesses that creates jobs and build communities
- Includes 100 + hours of professional specialized training and peer-to-peer counseling delivered over the course of seven months
- Specialized areas of training include:
- Growth Strategies Plans
- Financing and Access to Capital
- Government Contracting
There are currently no restrictions on the types of businesses that can participate. Some examples of participating businesses include: manufacturers, retail/wholesalers, contractors, professional services and food service.
In what ways does the program support my business?
The training is specifically designed to stimulate and support the expansion of your business. The curriculum provides strategies to help you access new avenues of capital. It offers practical tools to pursue new paths for business development. It surrounds you with a network of government resources and local business leaders prepared to invest time and energy in your business.
What are the overall benefits of participation?
The end result of the executive education prepares and encourages small businesses to move to the next level on their growth trajectory and to help them emerge as self-sustaining businesses that create jobs and build communities. At the conclusion of the training, entrepreneurs produce a three-year strategic growth action plan with benchmarks and performance targets that will help them access the necessary support and resources to move forward.
What is the cost to participate in the StreetWise 'MBA' program?
The program costs $1500, plus your time and commitment to complete the curriculum over the course of seven months. All other costs are covered by local partners.
Who else has taken this program?
Check out a few of the Boston-area alumni by clicking here and read their growth stories by by clicking here.
How do I sign up?
Business executives interested in participating should complete the online registration form. Click here to access the application.
The previous posts in this series discussed the relationship between the racial wealth gap and small business, what created the racial wealth gap, and how it has impacted small business, especially minority-owned small businesses. This week’s post brings good news: building capacity among minority-owned businesses and businesses located in low- to moderate-income communities may contribute to closing the wealth gap.
The racial wealth gap has significant implications for entrepreneurship in terms of access to capital. Most business owners turn to their own wealth or that of their friends and family when starting and operating a business. Minorities have lower levels of wealth on average, due to the policies and discrimination that created and maintained the racial wealth gap, and minority business owners therefore tend to have less of their own capital to invest in their businesses.
(This blog post is part of a series. Read the previous post here.)
“The extent of and continuing increase in inequality in the United States greatly concern me…. I think it is appropriate to ask whether this trend is compatible with values rooted in our nation's history, among them the high value Americans have traditionally placed on equality of opportunity.”
Janet L. Yellen, Chair of the Board of Governors of the Federal Reserve System, October 17, 2014.
The racial wealth gap has been the subject of much focus lately. But where did it come from?