Connecticut small business owners in the startup and expansion phases will benefit as the award will be used to continue supporting the Small Business Technical Assistance Training Program (SBTAP), which provides training, business advising, and technical assistance to small businesses.
The Entrepreneurial Center’s successful track record has secured the continued support of the Prudential Foundation. During the program year running November 2015 – October 2016, the Entrepreneurial Center invested almost 1,000 hours in one-on-one business advising through SBTAP, assisting 71 clients to either startup or expand their businesses. These clients launched seven businesses, created 51 jobs, increased combined revenues by more than $1 million, accessed capital of just under $1 million, and completed business goals ranging from developing marketing strategy and sales campaigns to training in cash flow and employee management.
“We are grateful for Prudential’s endorsement of our work to support these microenterprises,” said Fred Wergeles, Entrepreneurial Center Director. “It is gratifying to provide these B2B services for local entrepreneurs as we assist in their startups and expansions. The Center helps small businesses create business and marketing plans, gain access to capital for expansion, increase revenues, and create jobs. This is truly a ‘locals supporting locals’ effort.”
Through Entrepreneurial Center programming, a team of experienced staff, local small business experts, and resource partners provide entrepreneurs with a number of services including:
- Training for business and professional growth
- One-on-one business advising
- Women’s Business Center, including the Women’s Business Roundtable, Power & Progress Business Women’s Symposium, and other women-focused events and services
- Individualized technical assistance for business plan development, financing, hiring, contracts, marketing, government contracting, tax planning, and more
- Comprehensive business planning courses
- Connections to small business resources
About the Entrepreneurial Center
The University of Hartford’s Entrepreneurial Center provides hands-on coaching and business training for new and expanding small businesses, as well as aspiring entrepreneurs, throughout Connecticut. Part of the nationally renowned Barney School of Business, the Entrepreneurial Center helps small business owners and employees to gain the business skills needed to succeed in the marketplace through business advising, technical assistance, educational programs, and networking events. The Women’s Business Center, which specializes in serving women in business, is the largest initiative of the Entrepreneurial Center. For more information, visit www.hartford.edu/ec.