SMALL BUSINESS AND CONTRACTORS’ ACADEMY

WHAT?
Due to the increase of Black-owned businesses and Construction Firms, the Black Chamber of Commerce of Lake County, the BCCLC will be offering a Small Business and Contractor’s Academy. This Academy will initially be held once a year. Black business owners have one of the lowest Business Participation Rates in the United States. It is the belief of the BCCLC that the one-size-fits-all approach to economic development just doesn’t work. The BCCLC seeks to become the principal voice of the Black business community and we are committed to increasing the participation of Black and other minority owned businesses in all commercial and economic areas.

The concept of the Small Business and Contractor’s Academy came to fruition as part of Mt.ZionBaptistChurch’s Economic Development Ministry. In January 2005, inaugurated before a congregation of over 200 worshippers at the Mt.ZionBaptistChurch, the idea was launched using a start-up firm; Integrity Developers, Inc. The firm has proven to be a dedicated leader with a commitment to our community. Their efforts represent the higher standard that Mt.Zion strives to achieve with respect to our neighborhoods by promoting the excellence of God in all that we do. Through this initiative, Mt.Zion provided direct services, guidance, and support to a high-growth potential firm; Integrity Developers, Inc., and assisted them in reaching their full potential. The direct activities revolve around the basic proposition that the success of high-growth potential firms can be accelerated by ensuring that they have ready access to the following four essential business elements:

  • Knowledge
  • Capital
  • Markets
  • Networks

Integrity Developers, Inc. (Three-Principal Owners) is a Full Service Construction Firm located at 2835 Belvidere Rd. in Waukegan. They have a full-time staff of 5 employees, and growing. As a result of their success in being awarded several lucrative contracts, they are able to offer their employees competitive wages. They will end the year of 2007 with over $500,000 in incremental revenue to the LakeCounty economy, which is a proven success story.

This training initiative marks a historic moment for Black and other Minority businesses in this county. It is the first program of its kind and will enable us to reach out to and provide training to Black and other Minority businesses to make them more competitive and enable them to gain more access to business opportunities in the form of government grants. As part of our own commitment to the Black business community, we are proud to work in partnership with other Black Chambers and community development groups to ensure the success of this program.

Small businesses and entrepreneurs are the lifeblood of the Illinois economy. Minority businesses and contractors are an important constituency of the small business community and play a vital role in helping our local economies flourish. This learning/training grass-root initiative will act as a great tool for these firms in helping their businesses become more competitive and prosperous.

By targeting businesses with high growth-potential, the training will help increase their productivity and create more jobs in LakeCounty. This initiative is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs in LakeCounty. The innovative strategy to develop the Small Business and Contractor’s Academy is in direct alignment with the State of Illinois Opportunity Returns initiative. The Opportunity Returns initiative is about successfully partnering with companies and communities, both large and small, to help all of Illinois, especially our targeted population to reach its economic potential. The Opportunity Returns initiative contains tangible actions to make the Black community more accessible, more marketable, more entrepreneurial, and more attractive for business.

The primary tenant in the success of our initiative; is training. We envision a sixteen week course and a twenty-four week course for Construction Contractors will help to facilitate the development of Black-owned businesses, and Construction-related firms in LakeCounty.

What are some of the topics to be covered at the SBCA?

Course Topics includes:

Session 1: Entrepreneur EvaluationSession 9: Finance options

Session 2: The Entrepreneur MythSession 10: E-commerce

Session 3: The Business Plan Session 11: Buying/Selling

Session 4: Functions 4 EntrepreneursSession 12: Sales/Marketing

Session 5: Business OrganizationSession 13: Hiring/Training

Session 6: Entity StructuringSession 14: Growth

Session 7: Location and leasingSession 15: Profitability

Session 8: Accounting and Cash FlowSession 16: Final Exam

In addition to the classes listed above, each construction class will cover different topics. Some of these topics include: Construction field management, construction law (contracts, claims and disputes), reading/reviewing plans, construction costs and estimating, accounting, risk management, bonding and insurance, minority certifications, marketing, bidding, banking and financing, among others.

WHO?
The program is prepared and offered by BCCLC in partnership with the EBS Worldwide Business Solutions a specialist in the academic field of business and construction principles. The combination of operating support and leadership training helps strengthen the capacity and infrastructure of the selected organizations and promotes the professional development of their leaders.

Under this Initiative, each corporate participant could assist by providing financial resources, mentoring, relationship building and support to area businesses and individuals who are making a difference in the growth of the LakeCounty economy. This commitment of investing and deploying an array of philanthropic resources will help neighborhoods grow and prosper, thereby creating thriving environments where your customers, associates and shareholders live, and work. This is a value proposition that is worth the investment.

WHEN?
The Academy’s first Seminar was held Saturday, January 26, 2008 from 9:00 to 4:00 p.m. at the Marriott Courtyard, Waukegan. The other sessions will be offered every week upon an agreeable day from current attendees. The Small Business and Contractor’s Academy, SBCA begins February 25, 2008 –June 2008. Attendees will meet on a weekly basis for two hours for 16 weeks. Construction Contractors will meet for an additional 6-8 weeks for specific contracting principles.

WHERE?
The BCCLC promotes a philosophy of utilizing resources that are available to us. Therefore, we are considering partnering with one of our local churches to utilize their educational classrooms which will provide a learning environment conducive for the Academy. All classes will be held at the ShilohBaptistChurchEducationalBuilding, 800 South Genesee St.Waukegan, Illinois60085.

HOW TO REGISTER?

Black Entrepreneurs and other Minorities who want to participate in the Small Business and Contractor’s Academy can register by contacting BCCLC at 847-244-5548. Participants must attend all sessions in order to receive a certificate of completion at the end of the program.

FOR GENERAL INFORMATION:
847-244-5548

The Follow-up Focus

How We Do It?

The BCCLC Strategic Business Process is comprised of eight Major Components:

  1. Define and establish goals
  2. Assessment of current performance measured against established goals
  3. Perform GAP Analysis by benchmarking the results from the assessments
  4. Design GAP Remedial Solutions

Profile Potential Mentors

Establish the right mix of Mentor Profiles

Define training objectives for both Mentors and Mentees

  1. Match Mentees with right Mentors
  2. Train on the objectives established
  3. Implementation of the program
  4. Program management, control, tracking and reporting.

It is the belief of BCCLC that this follow-up process would last approximately 2 years before they are released from the program follow-up.

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