The Aiken Business Coalition Entrepreneurship Program
The Aiken Business Coalition Entrepreneurship (ABCEP) Program exists to empower entrepreneurs and small business owners with the training and micro grant & loans needed to cultivate and grow successful businesses. Led by the Aiken Business Coalition which is a coalition between City of Aiken, Umoja Village, Security Federal Bank, Greater Augusta Black Chamber of Commerce (GABCC), and Aiken County Branch of the National Association for the Advancement of Colored People (NAACP), this loan/grant training program provides a comprehensive and innovative approach to supporting existing entrepreneurs. Participants benefit from four weeks of intensive training followed by six weeks of personalized coaching and mentorship, ensuring they stay engaged and take actionable steps toward success. Upon completion, eligible participants will receive guaranteed micro grants and/or can qualify for loans as outlined in the program guidelines.
The program includes a variety of subject matter courses taught by professionals from the Southeast region and the CSRA. Training components cover a wide range of topics, including:
- Introduction to Entrepreneurship
- Business Fundamental
- Legal Structure
- Business Planning Basics
- Record Keeping
- Building Business Credit
- Managing Cash Flow
- Insurance 101
- Marketing /Branding 101
- Tax Planning and Reporting
- Banking Services
The ABCEP Program is designed to empower entrepreneurs by providing them with the foundational skills and resources needed to thrive in today’s competitive business environment.
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Our orientation registration is now available. Please click below to choose your desired date to attend.
2024 Program Features
Introduction to Entrepreneurship
After completing this module, participants will be able to: (1) Distinguish the myths and realities of small business ownership. (2) Start a self-assessment to determine their readiness to become business owners. (3) Set a plan of action gathering feedback from family, friends and potential customers.
Business Fundamental
After completing this module, the participants will be able to:
(1) Understand the external and internal factors which affect risk for a small business. (2) Recognize the common warning signs of risk for a small business.
(3) Implement, monitor, and evaluate a risk management plan for their business.
Legal Structure
After completing this module, the participants will become familiar with the common types of business formations, including: The pros and cons of business structures:
Sole Proprietorship, Partnership, Limited Liability Company (LLC), Corporation,
S-corporation
Business Planning Basics
After completing this module, participants will be able to:
(1) Convert a vague idea into a resource plan.
(2) Understand how a business plan helps motivate stakeholders to support their business ideas.
(3) Understand the importance of personal credit and a healthy relationship with lenders.
Record Keeping
After completing this module, the participants will be able to:
(1) Predict their businesses’ federal, state and local tax liabilities.
(2)Prepare for tax obligations and establish proper accounts.
(3) Obtain the proper licenses for their business and meet reporting requirements.
Building Business Credit
After completing this module, the participants will be able to:
(1) Understand how credit reports are used in the underwriting of business loans.
(2) Apply common business practices and tools to help in proper credit reporting.
(3) Develop strategies to build or improve their business’ credit.
(4) Protect themselves from credit-related scams and know what to do if their business becomes a victim.
Managing Cash Flow
After completing this module, the participants will be able to:
(1) Understand the essentials of financial management and basic recordkeeping.
(2) Apply financial management practices, rules, tools, and technology most relevant for small businesses.
(3) Prepare for common business financing needs: start-up finance, working capital, and fixed asset loans.
Insurance 101
After completing this module, the participants will be able to:
(1) Understand their business’ insurance needs.
(2) Choose the insurance products that are best for their business.
Marketing /Branding 101
After completing this module, the participants will be able to:
(1) Discover how to develop/build an effective brand
(2). Learn various marketing methods and strategies to promote your brand
(3) Explore case studies on companies that have created effective multi Brands across cultures and geographies
(4) Understand how to value and capture returns on your brand,
Tax Planning and Reporting
After completing this module, the participants will be able to:
(1) Predict their businesses’ federal, state and local tax liabilities.
(2)Prepare for tax obligations and establish proper accounts.
(3) Obtain the proper licenses for their business and meet reporting requirements.
Banking Services
After completing this module, the participants will be able to:
(1) Recognize the most common banking services for small businesses, including merchant services, payroll processing, business credit and others.
(2) Understand how other small business owners decide which banking services to use. (3) Evaluate the applicability of each of banking service to their business needs.
About the Program
The Aiken Business Coalition Entrepreneurship Program is dedicated to fostering entrepreneurial spirit and providing aspiring business owners with the tools they need to succeed. Our mission is to cultivate a thriving community of innovative entrepreneurs who contribute to the economic growth of Aiken. We envision a future where every entrepreneur has access to the knowledge, mentorship, and resources necessary to build sustainable and impactful businesses. Our goals include offering comprehensive training, facilitating networking opportunities, and supporting the development of viable business plans.
Aiken 2022 Participants
