There has been an unmistakable boost in minority business start-ups, in fact according to data from the U.S. Census Bureau’s latest Survey of Business Owners small business start-up is fifty percent greater among black entrepreneurs as compared to whites. Despite these optimistic statistics,black-owned firms have lower survival rates than non minority firms and black entrepreneurs still face unique challenges that can hamper proper business development and sustainability.
One of the challenges facing black entrepreneurs is entrepreneurial training. Learning how to run a business is not a skill that can be learned strictly in school, to build a sustainable company entrepreneurs also needs real-world training and practical advice. Fortunately there are a number of local resources where you can get free or very low-cost training and quality advice. Below we list 3 resources available in the Baltimore Metropolitan Region (these same resources may be available in your area with a different branch office).
SBA provides free individual face-to-face, and internet counseling for small businesses, and low-cost training to growing entrepreneurs and established small businesses in throughout the United States.
SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship.
SCORE is supported by the U.S. Small Business Administration (SBA), and has a network of over 12,000 volunteers, which allows them to deliver their services at no charge or at very low cost.
Like SCORE, the Small Business Resource Center of Baltimore is supported by the SBA. At the Small Business Resource Center, you will find a wealth of information about many subjects that affect your small business, from planning and financing to marketing and insurance. The Center has a large business library, plus internet access to magazines and newspapers nationwide, for your research on a variety of business topics. There are also videos and cassettes for you to use. They also have routinely host free or low-cost events.
The Small Business Resource Center is located at 1101 East 33rd Street, Suite C307 , Baltimore , Maryland , 21218 . To benefit from the Center, come by between 9:00 a.m. and 4:00 p.m. , Monday through Friday or call 443-451-7160. There is no charge for using the Center.
Who’d We Miss?
Now of a great resource for black entrepreneurs that we left out? If so, be sure to comment below and let us know a little more about that organization so we can share it with our readers!
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