New Partnership Created to Help Business

Local entrepreneurs have a reason to celebrate. A widely respected national program is coming to Manatee and Sarasota Counties to help local business expand smartly.

On Wednesday the Kauffman Foundation announced the creation of a fifth Urban Entrepreneur Partnership program. The other four are in major metropolitan areas – Kansas City, Detroit, New Orleans and Baton Rouge.

“Government, health care and education are where the jobs are being created now,” said Michael Levin, board chairman of the Kauffman Urban Entrepreneur Partnership. “Where is the private sector?”

Levin, who is also chairman and chief executive officer of the Titan Steel Corporation, said “We coach firms on how to grow, increase revenues, and create jobs.”

How does this partnership do it? Kevin Lockett is its chief operating officer.  “We scour the nation looking for innovative programs to help small business,” he said. The partnership hires business coaches, and conducts face-to-face classes as well as long-distance learning sessions.

“We are about the transfer of knowledge from the coach to the entrepreneur,” said Lockett.  “The [company’s] chief executive officer has to participate in the program.”

He said the focus in Sarasota and Manatee would be job creation, revenue increases and profitability.

“We are research based, and data-driven,” said Lockett. The program focuses on existing businesses and start-ups with a strong potential to create jobs.

Bradenton’s Central Community Redevelopment Authority and Wells Fargo banks together are contributing $90,000 toward the program. The foundation provides most of the training for free, but demands the community cover a share of the expenses.

“We have to have skin in the game,” said Mike Kennedy, president of Suncoast Community Capital. Kennedy is the local partner in the program. “The objective is to create jobs,” he said. “And quickly.”

Kennedy said they are looking for companies to coach, about 10 to 15 in the first cohort of trainees. He said nominations will open on February 15, and the first class will be announced on March 15. The coaching starts on April 1.

Unlike many small-business assistance agencies, there is no limit to the size of a company that can receive coaching through the Urban Entrepreneur Partnership.

“We’re helping auto parts suppliers in Detroit with $450 million in revenues,” Levin said. “And we’re helping exciting start-ups too.”