SBA grant helps fund program for local executives

April 1, 2011 at 12:00a.m.

YOUNGSTOWN

Executives from 16 city businesses will learn expansion strategy and techniques to increase and improve their companies through the U.S. Small Business Administration.

The program, called E200 Emerging Leaders, is paid through a $40,000 SBA grant with Youngstown and Youngstown State University assisting.

Youngstown is among 27 cities to obtain the grant, said T. Sharon Woodberry, the city’s economic- development director.

The 13-class program, being conducted at the Ohio Small Business Development Center at YSU, starts April 19.

The city is assisting the SBA by marketing the program and recruiting participants, Woodberry said.

Those eligible to participate are executives in companies that have operated for at least three years with at least two employees and annual sales revenue of $400,000 to $10 million, Woodberry said.

The curriculum focuses on developing winning business strategies including information on access to new forms of capital and government contracting, according to the SBA agreement with the city and YSU.

The program is designed to support companies with local success that want to move to the next level of growth.

The goal of the SBA Emerging 200 initiative is to identify 200 inner-city businesses across the country that show a high potential for growth and to provide them the network, resources and motivation required to build a sustainable business.

There are only a few spots available.

Those interested should contact the city’s economic development office at 330-744-1708.