Small Business Jump Start

Venango county is poised for growth and residents are eager to launch their business ideas, but business development services, especially loan funds, are lacking. C\VERA is partnering with the Franklin Industrial and Commercial Development Authority (FICDA), the Oil City Chamber of Commerce, the Franklin Chamber of Commerce, and New Choices/New Options to make entrepreneurship education and small business development services available.    Small Business Jump Start offers support for new small businesses in three ways:

     --Intensive Entrepreneurship Education and Training
     --Business Mentoring
     --Revolving loan fund based on a peer lending model

Participants learn the basics of business start-up, including developing a business plan, conducting market research and feasibility studies, marketing and promotion, managing finances, and more.  Volunteer mentors from the community work with the new entrepreneurs after the course is over, and graduates of the course become members of a loan circle which provides ongoing support and follow-up.  A great advantage of the peer lending model is that people who might not be able to access funding through a bank have the opportunity to finance their start-up and to build credit at the same time.

Small Business Jump Start is based on the successful  ASSETS+ microenterprise development model developed by Mennonite Economic Development Associates (MEDA).  MEDA has successfully mentored programs across the country and is working actively with our local partners to make Small Business Jump Start a reality.  The first cycle of classes is scheduled for Fall, 2005. 

For more information on Small Business Jump Start, contact Joann Wheeler or Ronnie Beith.  

Read more about Small Business Jump Start:
http://thederrick.com/stories/04062005-3010.shtml
http://www.thederrick.com/stories/04042005-1012.shtml
 

Read more about the small business climate in Venango County:
http://thederrick.com/stories/04162005-6003.shtml