The U.S. Small Business Administration and its Atlantic Regional Office announced the launch of the 2019 “Emerging Leaders Initiative” for executives of small businesses poised for growth in emerging markets.
Local area recruitment for the
2019 training cycle is currently ongoing in Region II’s New York, Syracuse, New
Jersey and Puerto Rico District Offices, which include the U.S. Virgin Islands.
“I am proud of the success the
Emerging Leaders and the impact the training has made in helping to take small
businesses to the next level,” said Allen Gutierrez, associate administrator of
the SBA’s Office of Entrepreneurial Development.
Since its inception in 2008,
Emerging Leaders has trained more than 5,000 small business
owners, creating more than 6,500 jobs, generating more than $300 million
in new financing, and securing more than $3.16 billion in government contracts,
the SBA stated.
“For every $200 the SBA invests
in the Emerging Leaders program, a new job is created,” SBA Regional Administrator
Steve Bulger said. “That’s a substantial return on investment for small
business owners ready to grow and actively contribute to our economy and
provide employment opportunities to neighbors in our communities.”
The SBA Emerging Leaders
Initiative has grown to be offered in 60 cities across the U.S. during
2019. Each of the Atlantic Region’s District Offices is actively preparing
for an engaging program, the agency said.
Due to the program’s popularity and success, funds have been allocated to expand it in the Puerto Rico District Office so that more entrepreneurs can participate, for the first time, at three locations — San Juan, Ponce and St. Croix in the USVI.
Basic eligibility requirements
to participate in the SBA Emerging Leaders Initiative include the following:
- Be a small business owner or head decision-maker;
- Have business annual revenues between $250,000
and $10 million;
- Have been in business for at least three years;
- Have at least one employee, other than self;
- Make the time commitment required of the course;
- Demonstrate the business is on the brink of
growth or transition.
The SBA’s Emerging Leaders
provides free entrepreneurship education and training for executives of small
businesses that are potential job creators.
The executive entrepreneurship
series includes nearly 100 hours of classroom time. Participants are
provided with the opportunity to work with a network of experienced coaches and
mentors, attend specialized workshops, and develop connections with their
peers, city leaders, and the financial community to build sustainable
businesses that promote economic development within their communities.
The program will run from April
to September 2019. For more information about the SBA Emerging Leaders
Initiative, visit www.sba.gov/EmergingLeaders.a