NUL Entrepreneurship Centers

The Entrepreneurship Center Program (ECP) enables minority entrepreneurs to take advantage of new business opportunities and qualify for financing that will put them on the path towards high-level business growth through the application of proper management skills. Entrepreneurs who qualify for the program will receive individualized and group management assistance designed to increase their business acumen and ability to operate their businesses profitably, increase their market share, and offer living wage employment opportunities to area residents.
 

Since the 1970’s, while the numbers of minority businesses have grown tremendously, they have not kept pace with the growth of minority communities. This gap will continue to widen as minority communities are projected to account for nearly 40% of the US population by the middle of the 21st century.

 
One of the reasons for this is that minority businesses are largely represented in low growth sectors and their owners rely on personal debt and family financing versus business loans, equity, and other forms of financing, to operate and grow their businesses. This results in a lack of size, scale and capabilities when compared to majority owned businesses.
 
Many minority businesses may appear to be unstable and high risk. But many minority businesses, despite obstacles, have managed to grow sustained by the grit and ingenuity of its owner. However, there are limits to what these qualities can accomplish.
 
Weak capitalization, along with limited financial management skills, and a limited collateral base, can hinder even the most determined of minority entrepreneurs. Technological access to information and support is critical to effectively managing the services or products that the business offers, as well as taking advantage of new market opportunities and satisfying existing client relationships. Additionally, without systematic business management assistance, owners are unable to cultivate the long-term growth and the necessary banking relationships to access capital to grow their businesses.
 
This is where the Entrepreneurship Center Program can help.
 
 
ENTREPRENEURSHIP CENTER PROGRAM COMPONENTS
 
The ECP combines direct entrepreneurial skill development assistance from business mentors with targeted resource referrals to insure that assistance received by entrepreneurs is specific to their skill level and needs. Currently, there are eight ECP centers that operate in Urban League affiliate offices:
 
-       Atlanta, GA
-       Cincinnati, OH
-       Chicago, IL
-       Cleveland, OH
-       Jacksonville, FL
-       Kansas City, MO
-       Los Angeles, CA
-       Philadelphia, PA
 
Components of the program include:
 
  • Management Skill Evaluation - Each program participant is evaluated to determine what types of assistance are necessary and its source.
  • Strategic Group Deployment - Pairing outside resource providers with clients, according to skill level, ensuring that each client receives the necessary assistance from the proper resource.
  • Relationship Building - Each Center has relationships with outside resources in order to offer management and technical assistance in idea development, operations management, business plan development, marketing, procurement and financing.
  • Business Management Training - Clients receive group training sessions on business management topics to advance their entrepreneurial skills along with information on new business and new financing options opportunities.

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