Feds Offer to Help Grow Small Businesses in Dallas's Inner-City

Good news this afternoon for small businesses in the inner-city: The U.S. Small Business Administration has placed Dallas on its burgeoning list of cities tapped to participate in its Emerging 200 initiative, which IDs companies "that show a high potential for growth" and shows 'em how to, ya know, grow...

By Robert Wilonsky

December 23, 2008

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Good news this afternoon for small businesses in the inner-city: The U.S. Small Business Administration has placed Dallas on its burgeoning list of cities tapped to participate in its Emerging 200 initiative, which IDs companies "that show a high potential for growth" and shows 'em how to, ya know, grow. Dallas enters the government program, which served 10 other cities in '08, next spring.

Says here that 20 small-business owners in each city chosen for the program will receive 80 hours of classroom instruction, during which they'll learn "growth strategies, long range planning, finding new revenue streams, government contracting and developing new means of mentorship." The only caveats are that their doors need to have been open for at least three years and that their gross annual revenue needs to be around $400,000, at least. SBA Acting Administrator Sandy Baruah says in today's media release that "by helping them prepare for the challenges of today's economy, SBA is tapping into the power of local entrepreneurs to transform their communities, generate new jobs, and make real and lasting changes." Also on the new list: Detroit, Denver, Jacksonville and Portland. --Robert Wilonsky

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