What is the goal of this initiative?
The goal of the SBA Emerging 200 program is to identify 200 inner-city businesses across the country that show a high potential for growth - and to provide them the network, resources and motivation required to build a sustainable business of size and scale.
What are some of the benefits of participation?
Encourage these small businesses to move to the next level on their growth trajectory and to help them emerge as growing, self-sustaining businesses creating jobs and business sustainability in low-income communities. This also serves as a portal to other SBA programs and services and is counted toward District Office training goals.
What is the deadline for the submittal of a proposal from the District Office?
Because of interest, the deadline is now February 15th. Notification of this change was sent out to the field by the Office of Field Operations. Other timelines will be adjusted accordingly.
Is the $50,000 funding commitment still a requirement?
No. This is no longer a requirement. This initiative will be centrally funded.
What are the District's responsibilities?
Project manager including: securing in-kind training facilities, enlisting community outreach to identify and market the training to potential inner city business participants using criteria that will be provided; registration; onsite logistics, ongoing relationship with businesses such as: other counseling/training opportunities, business matching, liaison and client referral to SBA resource partners.
Does the proposal need to list the small businesses that will participate?
No. The proposal essentially outlines your interest, community support and capacity. If selected; the next step would be the identification of inner city participants.
Do you have a proposal template?
A proposal template will be supplied to the Office of Field Operations for distribution to the field. The template has been posted on OFO's sharepoint (http://collab.sba.gov/sites/FieldOps/default.aspx ).
Will there be criteria for defining an inner-city business?
Yes, the selected District Offices will be provided clear-cut, well-defined criteria. These criteria will be used in marketing materials also to target the appropriate audience.
What is the role of the SBA resource partners?
Resource partners can be of assistance in identifying and referring clients who meet the criteria of inner city business; they can assist in marketing; provide facilities support, and post-training follow-on mentoring, counseling and training.
Will geographic research be provided to assist in proposal preparation?
Yes. Profiles that clearly map the inner city areas within each city can be obtained by contacting Teresa Lynch at tlynch@icic.org. ICIC will do it's best to provide you the requested information within 1-2 business days.
What are areas of training emphasis for business participants?
1. Growth strategies (3-5 yr plan; new markets)
2. Access to new forms of capital (SBA and beyond)
3. Government contracting (state and local; in addition to federal)
4. Mentorship
Is there a set curriculum to be used for this initiative?
It is a uniform curriculum supporting the 4 areas of emphasis [above]; which can be modified to local needs. This would be accomplished after city selection with the District Director working collaboratively with the trainer.
Who provides the actual training?
District office or local partners will NOT have to conduct the training, central training provider(s) will be contracted to service all participating cities. Trainers will provide materials, consultation with the District Offices, a local business roundtable designed with the District Office that would include among others, lending partners.
Has the business nomination process and selection panel been eliminated?
Yes. Based on the business eligibility criteria which will disseminated by the District Office and its partners; business will essentially "self-certify" they meet all the requirements for participation - such as geographic location in a recognized inner city sector. There will be uniform eligibility criteria and as well as specific criteria based on the business set in the participating cities. ICIC will work with the participating District Directors to hone this city/sector specific criteria.
What are the criteria for business participant's eligibility?
ICIC will be developing specific company eligibility requirements, and will engage the help of the selected districts to do so. Depending on cities selected, eligibility may vary slightly to be better suited to that specific city. For example, geographic scope must adhere to the ICIC definition, however; the District Director and partners would have the option of narrowing the scope to certain quadrants within that inner city geographic area.
When will the criteria for business participant's eligibility be available?
Once interested District Office submit their proposals and final cities are selected, further instruction will be provided regarding business participants' eligibility and registration.
What is the targeted professional level of the business participants?
"C" level - CFO, CEO, COO.
What is the length of the training?
Approximately 80 hours over the course of several months; likely 2 half days per month.
Is there a cost for a business to participate?
No.
What is the commitment requirement for business participants?
District Offices should communicate to participants and community organizations that this is an investment of time and resources with benefits that accrue including media coverage; integration into SBA and community business development programs and services; sustainability support and mentoring. Business participants will be obligated to sign a commitment letter prior to commencing training. The District Office and its community partners will liaison during the training cycle with the business participants to ensure ongoing participation.
What is the role and support provided by Central Office?
Central Office will provide overall coordination of this program in conjunction with OFO, OED and ICIC. Local offices will be provided additional research and criteria for firm recruitment, local training providers, a technical assistance curriculum, promotion in national media efforts, shared best practices from other participating offices/firms, access to specialized online resources, and staff guidance provided by program experts. Central Office will also facilitate marketing contract that will provide national and local media engagement, promotional and program materials, etc.
Is it possible that more than 10 cities will be selected?
Yes. Consideration will be given to expanding the number of participating cities based on the number and quality of the proposals.
What if a selected city has more than 20 eligible businesses?
The key is qualification, interest and commitment; if there are more then they can participate. By the same token, if there are less than 20 eligible/interested business (e.g., only 10 businesses within a certain area) that meet the criteria and commitment requirement that too, is acceptable.
What is the current initiative timeline?
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February 15 - District Offices are asked to submit nominations to serve as local hosts
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End of February - Selected cities announced
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March - Recruitment of business participants; Local in-kind support identified
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April - Business participants registered
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May - November - Training program runs, with bi-monthly sessions; media events; roundtables with Administrator, etc.
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August - Begin planning for potential expansion of program in 2009
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December - Inaugural initiative complete
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