The Small Business Administration (SBA) Emerging Leaders Initiative is a federal training initiative that specifically focuses on executives of businesses poised for growth in historically challenged communities. The Emerging Leader Program provides training that enhances business acumen for executives of small businesses so that they may foster growth within their organizations.
The training is designed to stimulate and support the expansion of participant’s businesses. The SBA pays for the six month curriculum and it costs participants nothing except their time and commitment. Over the course of six months, participants are given the opportunity to work with experienced mentors, attend specialized workshops and develop connections with their peers, city leaders, and the financial community. Participants are required to commit to 13, 3 hour sessions, approximately once every other week for six months from April to September. Each session is typically held from 3pm to 6pm.
The curriculum provides strategies to help access new avenues of capital, and it offers practical tools to pursue new paths for business development. At the conclusion of the training, entrepreneurs produce a three-year strategic growth action plan with benchmarks and performance targets that will help them access the necessary support and resources to move forward.”
The eligibility criteria to participate are:
- Annual revenues of at least $350,000
- Have been in business for a least 3 years
- Have at least one employee other than the owner
Learn more at: https://www.sba.gov/about-sba/sba-initiatives/sba-emerging-leaders-initiative.
Business Opportunity Specialist
SBA New Mexico District Office