This summer is flying by! While we all enjoy the sunshine and warm weather, we here at the Entrepreneurship Innovation Institute at Lorain County Community College have been watching a lot of progress being made with our Coleman Grant participants!
We have provided 2 hours of mentoring with our GLIDE counselors to the participants - providing assistance to writing business plans, starting the process of registering businesses with the state, coming up with names of the businesses, locating accountants and lawyers for further guidance, and basically watching these people grow into business owners.
Each of the participants have such unique stories to tell and businesses they are creating. We are very proud of their hard work and dedication. 20% of our participants are already making a profit, and 20% are opening by fall. How exciting! I will be personally visiting their businesses next month and posting up their personal stories and pictures.
In the meantime, we are gearing up for a finance seminar that our business owners are attending next week. Banking Expert Suzanne Ferrara, Vice President & Business Banking Sales Manager from PNC Bank,  and Finance Advisor  Nancy Ernstes from GLIDE will be presenting on valuable information for all aspiring business start-ups, including:  
*Details on how to secure financing with a bank
*Writing a business plan for the bank
*Steps to take as a business owner in searching for other resources available
*How to avoid accounting and book keeping mistakes as a small business owner
*Tips on starting your business with smart accounting practices  

We are all so happy to have such a positive experience working with our participants, mentors, and our college. Together, we are creating jobs, businesses, and new opportunities!

Stay tuned for personal stories of our participants next month!

We have had a productive couple of months with the Entrepreneurship NOW: From Layoff to Launch program. We had seven dislocated workers start the program and recently completed the Basic Start Your Business Bootcamp session. They were among 12 completing the Bootcamp course.

Of the seven, there are four females and three males, and the average age is 43.  The prior work backgrounds of the participants are largely from the fields of engineering, manufacturing, factory work and construction. Other backgrounds include entertainment and social services.  All of them would like to start or grow their business idea in Lorain County and have a variety of business ideas including a resale clothing shop, a restaurant, a trucking business, and a "green” construction consulting business. The participants came away from the Bootcamp session with many positive thoughts and the knowledge that there is more work to be done. This work includes learning more about registering with the state, finding a location, determining exact start up costs, writing a business plan, and better utilizing the resources of GLIDE and the local SBDC.

We continue to enroll people into the program and will offer at least two more Basic Bootcamps before June. We will assist the current and future participants follow up on the Bootcamp through the Coleman grant and beyond by working to connect them with mentors from GLIDE, the Innovation Fund, as well as our local entrepreneurial community to assist them in setting and reaching their goals. They will also be linked to area resources to assist them in successfully taking their ideas and business plans through the necessary steps to get started or continue.

Starting in August participants will have the opportunity to apply for a small grant to support their growing endeavor through a competitive grant process.

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