The county’s Office of Human Rights has entered a partnership with M&T Bank to offer a free, 10-week Small Business Accelerator Program for emerging and recovering small businesses, officials announced.
“The program will teach early-stage and minority entrepreneurs the essentials of business planning, operations, credit building, digital communication and financial management,” according to a press release. “It also could provide access to capital.”
“Only about half of new businesses survive past five years and about eight out of 10 Black-owned businesses fail within their first 18 months,” said County Executive Marc Elrich in the release. “In order to address these inequities and assist in building minority ownership and wealth throughout the county, we must do better.
“This program will help entrepreneurs, especially those who are traditionally underserved, reach new heights and access important resources,” he added.
The topics that will be covered include:
- Doing business in Montgomery County
- Banking fundamentals
- Business plans
- Strategic plans
- Financial statements
- Capital sources
- Business legal issues
- Pitching your business
- Pitch contest
- One-to-one coaching, and
Applications are now being accepted to join the program, which will run from Jan. 10 through March 14; the deadline to apply is Friday, Dec. 23, according to the release.
More information, including requirements to participate, is available by contacting AJ Nwoga, vice president and senior branch manager of M&T Bank’s Germantown branch, at 202.868.1443 or [email protected] or Daniel Koroma at [email protected]
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