Download to read offline
CUL presentation 091011
- 1. Entrepreneurship Center Empowering Communities. Changing Lives. The Empowering Communities. Changing Lives.
- 2. Vision The Chicago UrbanLeague will be the leader in building strong, sustainable communities by creating opportunities with the power to transform people’s lives. Empowering Communities. 2 Changing Lives.
- 3. Mission The vision ofthe Center is to enable entrepreneurs to train their people, develop business plans, hire and retain talent, and grow their businesses. The objective of each program is to empower its intended audience with the knowledge and skills necessary to grow their respective ventures. Empowering Communities. 3 Changing Lives.
- 4. Entrepreneurship Center includingthe following: 1. Enable the small businesses that they’ve trained to position their businesses for revenue growth. 2. Help these companies improve their operation effectiveness; essentially increasing their margins and profits. Greater effectiveness should result in the ability for these companies to invest in their people and resources. 3. Develop and strengthen the leaders within these entrepreneurial companies, effectively improving their own skills and enabling other success factors to be achieved. 4. Successful outcomes of these first three priorities will enable these businesses to hire and retain more talent. 5. Developing enterprises that attract revenues to underserved communities. 4 Empowering Communities. Changing Lives.
- 5. projectNEXT Known as projectNEXT,the programs included in the Entrepreneurship Center focus on wealth accumulation through the development of a strong African-American owned business community. Empowering Communities. 5 Changing Lives.
- 6. Strategy The Chicago UrbanLeague is committed to implementing its mission through the well-informed pursuit of the following strategies: • Ensuring access to quality education that prepares individuals to become lifelong learners and to be competitive and successful in the global economy. • Preparing individuals for work at all levels in an ever-changing economy, developing engaged citizens, and building strong families. • Supporting community based investment and growth through facilitating entrepreneurship, business development, and home and real estate ownership • Advocating for policies and programs that ensure equal participation by African Americans in the economic and social mainstream. • Enabling individuals to live productive, longer lives by ensuring access to Empowering Communities. health and wellness education and services. 6 Changing Lives.
- 7. CUL Departments Fiscal Year 2012 Employment and Human Capital Education Housing Entrepreneurship Policy/Multimedia Empowering Communities. 7 Changing Lives.
- 8. Entrepreneurship Founded in 2007, the vision of the EC is to create pathways to bigger businesses, better jobs, and stronger communities by helping entrepreneurs build sustainable business Center models to grow employment and wealth accumulation. The Empowering Communities. Changing Lives.
- 9. The EC Mission •Teaching and modeling best business practices; • Helping entrepreneurs to enlarge their revenues and profits by providing access to potential clients; • Empowering entrepreneurs through access to capital and financial institutions; • Coaching entrepreneurs to execute business strategies with resiliency and excellence; and • Encouraging entrepreneurs to connect with a community of business leaders and mentors with direct access to business resources. Empowering Communities. Changing Lives.
- 10. Planned Events • 4Business Access and Exchange Forums (nextCONNECTION) • 3 Alumni Networking Events – Book signing with Chris Rabb, author of “Invisible Capital: How Unseen Forces Shape Entrepreneurial Opportunity ” Empowering Communities. 10 Changing Lives.
- 11. Key Service Offerings • Cradle to maturity strategy – Create “pipeline” of businesses and entrepreneurs nextSTEP nextLEVEL Strategic Financial next Business nextPHASE nextONE (Start Up- YIEP ($100K to Consulting Assistance Construction Accelerator (Alumni ($100K+) ($500K+) Fund ongoing) $100K) $1M) ($100K+) ($100K+) Empowering Communities. 11 Changing Lives.
- 12. EC Programs andServices • nextSTEP • nextLEVEL • nextONE • Chicago Contractor Development • nextCONNECTION Empowering Communities. Changing Lives.
- 13. nextSTEP Educates aspiring small businessowners in the preparation of business plans and provides fundamental business and financial literacy through a series of classes and workshops. Empowering Communities. Changing Lives.
- 14. nextSTEP Over2500 individuals have taken classes Empowering Communities. Changing Lives.
- 15. nextLEVEL An “Entrepreneurial MBA,”this 6-week program is offered in conjunction with Loyola University for small and mid-sized businesses. It combines classroom training at Loyola, strategic business consulting, and business subject matter expert evaluation. Empowering Communities. Changing Lives.
- 16. nextLEVEL Started in FY 11, nextLevel has graduated two classes, a total of 12 companies Empowering Communities. Changing Lives.
- 17. nextONE Offered in conjunction withNorthwestern University, this is an intensive 9 month program targeting, high growth, scalable businesses. This type of entrepreneur has set aggressive growth goals for their business and has demonstrated a level of business acumen that makes the growth goals Empowering Communities. viable and achievable. Changing Lives.
- 18. nextONE Accomplishments • 59 companies graduated • Employee growth 79% • Revenue growth 122% Empowering Communities. Changing Lives.
- 19. Chicago Contractor Development(CCD) This program is designed to increase the technical, managerial and entrepreneurial capacity of developers, general contractors and other construction professionals through weekly classes facilitated by industry experts focusing on topics critical to success in the construction industry. Empowering Communities. Changing Lives.
- 20. CCD Successes • 70+ businesses graduated • $20 million dollars in new contracts awarded to participants • $2 million in new bonding capacity • Total cycles completed to date 4 • Companies Graduated 70 African-American Owned 100% Woman-Owned 23% Empowering Communities. Changing Lives.
- 21. Statistics Chicago Contractor Development Program Outcome Summary • Business Plans Developed 70 • Growth Strategies/Action Plans Developed 70 • Marketing Plans & Elevator Pitches Developed 70 • Total Bonding Capacity created $49.75 Million • Averaged percent increase in revenues 8.64% • Averaged percent increase in contract value 44% • Full-time jobs created 12 • Part-time jobs created 7 Empowering Communities. 21 Changing Lives.
- 22. nextCONNECTION Over four yearsof operations, The Chicago Urban League Entrepreneurship Center has touched hundreds of businesses creating a strong group for business development and networking. In FY 12, we are formalizing a structure to provide a central resource and opportunities for collaboration among entrepreneurs and business owners, both existing and aspiring, and the Chicago corporate and institutional communities. Empowering Communities. Changing Lives.
- 23. nextCONNECTION The Chicago UrbanLeague Entrepreneurship Center’s newest initiative nextCONNECTION is a central resource center comprised of an entrepreneurial network of business owners, corporations, government entities, business assistance providers and strategically aligned community partners to facilitate revenue growth, profitability, procurement opportunities, and operational best practices of African-American owned businesses. Through nextCONNECTION we're connecting entrepreneurs to valuable resources, to opportunities in the public and private sectors, for strategic partnerships and mentoring with large corporations. Empowering Communities. Changing Lives.
- 24. Strategic Partnerships •Goldman Sachs 10,000 businesses • Loyola University – Innovation Urban Entrepreneurship • SCORE Empowering Communities. 24 Changing Lives.
- 25. Looking Forward •Assessment – Accenture • Collaborations – CEC – WBDC – Accion – SCORE • Advisory Board – Local Entrepreneurs • EC Annual Report Empowering Communities. Changing Lives.
- 26. Empowering Communities. Changing Lives. Empowering Communities. 26 Changing Lives.
- 27. CUL-EC Metrics In the National Small Business Association’s 2011 Mid-Year Economic Report, small businesses surveyed reported a 15% net decrease in employees in 2010 compared to 156% net employee increase by the Chicago urban League’s nextONE participants for the same time period. The NSBA survey also indicated overall small businesses achieved a 2% net increase in revenue in 2010 compared to a 132% increase in revenue by nextONE businesses who answered the survey.* Even more startling is the net change in profits of overall small businesses surveyed by NSBA vs. the net change experienced by nextONE businesses in 2010. Empowering Communities. 27 Changing Lives.
- 28. CUL-EC Metrics Whileoverall small businesses saw a 14% decline in profits, nextONE businesses enjoyed a 383% increase in profits. This last metric which indicates an increase in profits more than twice the increase in revenues shows that the Chicago Urban League’s Entrepreneurship Center by focusing on teaching entrepreneurs best practices and increasing their business acumen is resulting in better run businesses and tighter operations and financial management of these companies even in an environment of slow revenue growth. Empowering Communities. 28 Changing Lives.
- 29. CUL-EC Metrics Overallaccording to Dun and Bradstreet mall business failure rates increased by 40% from 2007 to 2010 during the years of the CUL-EC. While CUL-EC business failure rate during this recessionary period was just 5%, in conjunction with a 79% increase in revenue and a 125% increase in the number of employees. Empowering Communities. 29 Changing Lives.
Editor's Notes
- #11 See deck and discussion we had yesterday
- #15 Needs new statistics
- #17 Rework wording Do we have any real pictures of graduation?
- #18 Re do words in second paragraph
- #23 Add a list of planned events
- #24 Add a list of planned events
- #26 May delete may add to strategic partnerships
- #27 Slides with pictures of our businesses Looking for pictures of Beeline, Grapevine, Ann Harrison, Signature media Trice, Ernest Edwards