The U.S. Small Business Administration announced that for a second year, Sacramento has been selected to host the SBA’s successful Emerging Leaders Entrepreneurship initiative, a nationally acclaimed program for small business owners wishing to take their companies to the next level. Bakersfield, Sacramento and Los Angeles are the only 3 California communities, along with 48 others around the country, selected as Emerging Leaders host cities.
This seven month, executive level ‘mini-MBA’ program will teach up to 20 business owners how to grow their company, increase their profits, find new customers, and improve their bottom line in 2016. Applications for Emerging Leaders are being accepted until late March at https://www.interise.org/sbaemergingleaders.
SBA selected Sacramento as a host city because of its strong small business community, and the diversity of industries in the city. Over the last two years, SBA has guaranteed over $816 million in small business loans in the Sacramento District, indicating growth and expansion in the area’s economy. Additionally, there is a strong network of local partners assisting Sacramento businesses, including the Small Business Development Center, SCORE, and Chambers of Commerce.
SBA is looking for Emerging Leader applications from business owners that reflect the diversity in Sacramento’s business community: newer entrepreneurs and more seasoned ones, men and women, and companies representing a wide variety of industries. Applicants should be in business 3 years or longer, show annual sales of at least $400,000, and have one or more employees in addition to the owner. SBA can only accept one owner per firm, and applicants should be the company’s CEO, COO, CFO, or President. After reviewing all the candidates, SBA will select the 20 most qualified. Emerging Leaders is being provided for free to the Sacramento business owners who are selected – comparable programs cost approximately $10,000.
Each business owner chosen for the 2017 Emerging Leaders program will receive over 100 hours of top quality training, education, and mentoring designed to improve their business. Emerging Leaders culminates in entrepreneurs completing a Three Year Strategic Growth Plan which they will present to a panel of business experts during the final class session. This is the blueprint for growth at the businesses that complete the program.
Emerging Leaders has been a catalyst for expanding opportunities in host communities – nearly 70% of program graduates reported revenue growth and over 80% created new jobs or retained all existing jobs. Graduates have also secured federal, state, local and tribal contracts worth more than $700 million. This is the second year that SBA has hosted Emerging Leaders in Sacramento. More than 30 businesses applied, and 17 businesses graduated the program in 2016.
Please join them for a short information session followed by Q&A; on 1/11/17 @ 10:30am. SBA’s District Office is located at 6501 Sylvan Road, Citrus Heights, CA 95610 SBA and their local partners look forward to working with Sacramento’s dynamic small business community again in 2017, and helping the next group of small business success stories.
