78 YEARS HEARTBEAT COMMUNITY

ENTREPRENEURSHIP CENTER
Small businesses are the absolute heartbeat of the American economy. These entities are a vital part and a major element of the strength
of local economies. The Small Business Administration notes that small businesses have produced 60 to 80 percent of all new jobs every year over
the last 10 years. They are the cauldrons of innovation, creativity and growth as they stimulate economic development and create employment
opportunities. The League’s Entrepreneurship Center Program was launched in 2015 to nurture and strengthen small businesses.
The team mentors business people who are at varying levels of growth, to jumpstart, grow and sustain their business ventures. The program
provides technical assistance, funding options, management training, mentoring, business coaching, one-on-one counseling and resource referrals.
“We started by bringing in clients for one-on-one counseling and put people in an individualized developmental pipeline,” said Eldridge
Allen, Director of the Center. “Entrepreneurs learn about the challenges, goals and levels of success that are possible for new and existing
businesses.”
“Most businesses fail after the first two years. The two main reasons are a lack of capital
(not enough money invested) and lack of proper planning. A business plan should not be a stagnant
document. If it’s not a road map, what is it for? It’s an organic, moving, changing document.”
Five Tracks of Entrepreneurship Center Program
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START IT
GROW IT FUND IT EXPAND IT SELL IT
Allen acknowledges that it is still a challenge for small businesses to acquire needed
financing.
“We’re still in financial recovery mode since the recession. There’s a stringent, old-world
way of doing things: pristine credit, really good sources of collateralization, and proven records
of performance,” he said. “Entrepreneurship has a certain level of risk. It’s taking a passion and
excitement and implementing it in a systematic way to mitigate for the risk.”
Allen said researching the competition, trend analysis and studying the feasibility of the
business are all key elements of good business strategy in addidtion to the experience and exposure
of the prospective or existing business owner.
“Helping local entrepreneurs build and strengthen
their businesses makes sense because successful
businesses are strong anchors in our communities.
The Entrepreneurship Center Program is a clear
example of the League’s mission to help people
in our own backyard and take care of our own at
home.” – Eldridge Allen, ECP Director.
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78 Years as the Heartbeat of the Community