DETROIT – The U.S. Small Business Administration formally kicked off the Emerging 200 Initiative in Detroit this week, a program designed to identify inner-city businesses across the country that show a high potential for growth.
Detroit was recently selected as one of fifteen cities nationwide to participate in the SBA?s Emerging 200 Initiative (e200). The goal of e200 is to provide high-growth potential inner-city businesses with a network, resources and motivation required to build a sustainable business within a designated inner-city geographic location.
The selection of Detroit as an e200 city is a prestigious one as it is one of only 15 cities that have been chosen. Along with Detroit, other e200 cities include Boston, Philadelphia, Baltimore, Memphis, Atlanta, Chicago, Milwaukee, Albuquerque, New Orleans, Des Moines, Dallas, Denver, Jacksonville, and Portland, Ore.
The cornerstone of the e200 in Detroit will be an in-depth educational program for senior executives running approximately 60-80 hours (likely two half-days per month) for six months. It will focus on such topics as organization management, growth strategies and management, market development, and strategic planning.
?We?re pleased, along with our partners, to bring Emerging 200 and its MBA-style environment and program to Detroit,? said Richard Temkin, SBA Michigan District Director. ?We hope eligible small businesses will take full advantage of this tremendous opportunity.?
Participation in e200 is free to qualifying businesses. Criteria for participation include having been in business for a minimum of three years, approximately $400,000 or more in gross annual revenues, and a business location within the inner-city geographic boundaries defined by the SBA. Participation will be limited to only 20 businesses.
For more information on the program, contact Constance Payne-Logan at (313) 226-6075, ext. 279.
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