Future Baltimore Small Business Accelerator

Future Baltimore is a flagship partnership for West Baltimore and the result of the innovative and equity-focused collaboration between Bon Secours Community Works, Kaiser Permanente, and the Latino Economic Development Center (LEDC). We have joined forces to help improve the socio-economic conditions in the area by launching a business accelerator.

Named Small Business Accelerator, the program includes an intensive and accelerating series of coursework, one-on-one business advice, and financing options to help local entrepreneurs achieve greater financial potential and business growth.

Our goal is to position up to ten local businesses for long-term growth and profitability through intense individualized technical support provided by industry experts.

Meet our graduates from our 2021 Cohort!

Currently, this program is not enrolling participants but we are providing one-on-one technical assistance and other programs in Baltimore. 

 

Benefits:

  • A tailored and proven curriculum designed to grow businesses; See curriculum
  • Up to 25 hours of consulting services by industry experts in fields including legal, marketing, sales, accounting, website development, merchandising, social media, finance, procurement and HR;
  • Personal and business network expansion through relationships within the cohort; and
  • $2500 Credit Building Loan at 0% interest and Access to a Network of Small Business Lenders.

*Additional requirements may apply

Participants:

  • Businesses operating in eligible neighborhoods* View Map
  • Businesses with hiring potential in the 21223-zip code or eligible neighborhoods
  • Minority-owned businesses in the 21223-zip code or eligible neighborhoods
  • At least 2 years in operation
  • Businesses meeting the above criteria with less than $1 million in annual revenue

*Eligible neighborhoods include:

Fayette Street Outreach, Boyd-Booth, Franklin Square, Forest Park/Walbrook, Greater Mondawmin, Penn North/Reservoir Hill, Upton/Druid Heights, Sandtown-Winchester/Harlem Park, Greater Rosemont, Edmondson Village, Southwest Baltimore, Poppleton/The Terraces/Hollins Market, Washington Village/Pigtown, Downtown/Seton Hill

Cost: 

This program is delivered at no cost for participating businesses thanks to Kaiser Permanente and Bon Secour's generous contributions.

 

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Curriculum

Module I: Access to Capital and Personal Finances 

  • Personal and Business Credit Building 
  • Debt Management, personal and business
  • Grant-based resources and business loans
  • Other sources of funding (angel investors, crowdfunding, bootstrapping)

Module 2: Rethinking Your Business Model

  • Diversify and/or expand product/service portfolio
  • Adjust the business model to new market trends (apps, online service)
  • Business Resources Online (consumer databases, industry reports)
  • Strategic business partnering and network associations

Module 3: Financial Management

  • Understanding Financial Statements for decision making
  • Budget
  • Profit & Loss, Balance Sheet
  • Cash Flow
  • Debt management.
  • Budgeting and Expense forecasting
  • Price structure, costs evaluation, and promotional/discount strategies
  • Break-even analysis 

Module 4: Strategic Marketing

  • Product Mix 
  • Online/Offline Marketing
  • E-commerce 
  • Promotional strategies
  • Procurement 

Module 5: Legal and Operational Fundamentals for Your Business

  • Operational agreement
  • Employment agreements (e.g. Employee ownership)
  • Lease contract negotiation
  • Systematizing and digitizing your business (invoices, bookkeeping, payroll)

 

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