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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.

 

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.

 

Apply or Refer a Participant

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)

 

Apply or Refer a Participant