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Walter Perry, the state’s U.S. Small Business Administration district director, tells an Emerging 200 kick-off meeting at Southwest Tennessee Community College on Monday that “we’re looking forward to creating jobs and spurring economic growth in this city.”

Despite a dismal turnout at Monday’s town-hall meeting to kick off this year’s Emerging 200 program, organizers remained optimistic that they will be able to fill the 15 available slots by the March 29 deadline.

Photo by Jim Weber
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Alfred Washington says he has a growth plan for his company, Top Notch Security, after participating in Emerging 200 last year. He employs almost 80 workers.

Unlike last year, when more than 50 entrepreneurs packed a conference room at the Benjamin L. Hooks Central Library to vie for spots in the U.S. Small Business Administration’s training program, only about a half-dozen showed up for this year’s information session at Southwest Tennessee Community College.

“It’s disappointing that not many people are here, but maybe that was because it was at 7 a.m. on a cold, rainy Monday and not indicative of interest in the program,” said Walter Perry, state SBA district director. “This is a great day in Memphis and there’s great synergy here. We’re looking forward to creating jobs and spurring economic growth in this city.”

Emerging 200 is an initiative launched in 2008 by the U.S. Small Business Administration to provide management training, professional contacts and financial guidance for small firms. Memphis was one of the first cities selected to participate and has done so each year since.

To determine finalists, the SBA looked at inner cities with job bases of 40,000 or more. From 1998 to 2005, 50 cities with inner-city job-growth rates of 2 percent or lower were studied; Memphis was minus 1.6 percent.

“It’s an exciting and innovative program, but we need to get more businesses involved,” said Charles Gulotta, director of the Memphis/Shelby County Office of Economic Development. “It offers invaluable training for small business owners and the only requirements are a commitment to the program and a desire to succeed.”

Admission to the program, while free, is competitive, and locally this year’s class size is limited to 15. There were 24 graduates of the eight-month program the first year and 19 last year.

Alfred Washington, who went through the course last year, praised the program.

“I learned so much during the classes and I’ve got a plan now to take my business to the next level of success,” said Washington, director of security at Top Notch Security, which employs almost 80 workers. “I encourage small-business owners to take advantage of the program. It takes time and commitment, but the payoff for your company will be worth it.”

E-200 is aimed at small inner-city companies that demonstrate above-average potential for growth and increased job opportunities. The free program consists of 13 three-hour training sessions, on topics including management, growth strategies, market development, strategic planning, government contracting and access to capital.

In addition to about 100 hours of classroom time, there are opportunities for entrepreneurs to work with mentors and develop connections with other small-business owners and city leaders. No direct funding is provided. Instead, business owners and executives are taught how to apply for grants, create and strengthen networking channels and develop mentoring partnerships.

Classes, which begin April 21 and run through Nov. 3, will be held at the Renaissance Center, 555 Beale.

For application information, call the local SBA office at 526-9300 or the state district office in Nashville at (615) 736-5881, or go online to sba.gov/tn

– James Dowd: 529-2737

Emerging 200

Details: Free federal program, limited to 15 entrepreneurs, designed to help grow companies that are at least three years old and generate at least $400,000 in annual revenues

Deadline: March 29

Contact: Call 526-9300 or (615) 736-5881 or visit online at sba.gov/tn

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