PROGRAMS | FAQs
_____________________________________________________________
Business FAQ:
How can I get a grant to start my business?
How do I finance my business?
Doesn’t the Small Business Administration loan money to business owners?
What should I do to get a loan?
What is a business plan? Do I need one?
Which licenses and permits will I need?
Who issues business licenses?
How do I get certified as a woman/minority-owned business?
Entrepreneurship Program FAQ:
I need a business training course. What do you offer?
How do I get involved with your program?
What is your program like?
How much does your program cost?
Can you get me a grant?
Can you refer me to a good accountant/lawyer/web designer/etc.?
Youth Entrepreneurship Program FAQ:
How long have you had youth entrepreneurship programs?
What grades can participate?
Do you hold classes at Empowerment Group offices?
Do you hold classes outside of Philadelphia?
What types of programs to you have?
Do you offer any advanced entrepreneurship programs?
What do your curriculum core components cover?
What types of businesses have students created?
Entrepreneurship Week FAQ:
What is Entrepreneurship Week?
When is Entrepreneurship Week?
Is there a fee for events?
Do I need to register?
Do I need to be a business owner to attend?
Can I bring my family and friends?
Are children permitted at events?
Where can I find directions to events?
How do I become a sponsor, supporting business, or volunteer?
General FAQ:
What do you mean by creating change?
How can I get involved in the Women Entrepreneurs’ Circle?
How is your organization funded?
BUSINESS FAQ
How can I get a grant to start my business?
Unfortunately, grants are reserved for non-profit and community organizations, not small businesses.
Special programs exist for the disabled, veterans and/or the elderly. These programs have very specific requirements and long waiting periods. They are the exception, not the rule. Please don’t count on grants for getting your business started.
How do I finance my business?
The ability to finance your business depends on your personal financial situation and current credit worthiness. Most entrepreneurs starting out use personal savings, help from family and friends, and as a last resort apply for traditional financing to fund their business ventures. Some businesses may qualify for a loan guaranteed by the Small Business Administration (SBA).
Other financing channels include local microfinance institutions and seed funding. All lenders will expect to see a thorough business plan and financial projections with your loan request package.
Doesn’t the Small Business Administration loan money to business owners?
The Small Business Administration (SBA) does not loan money to small businesses. The SBA is a branch of the federal government and acts as guarantor of loans to benefit small businesses. The SBA works with banks to underwrite loans for potentially risky investments, including inexperienced business owners and loan applicants with poor credit. Though you may be able to benefit from one of these guarantees, businesses still must go through banks obtain a guaranteed loan.
What should I do to get a loan?
Borrowers must show a clear, feasible plan for the money they’ll receive, along with feasible and timely plans for repaying the loan.
When applying for loans, you’ll be asked to provide your credit history, a cohesive and complete business plan, and several financial projections for your business. Most banks prefer funding business owners who are willing to contribute some of their own money or equity to help their business as well.
What is a business plan? Do I need one?
A business plan defines your business, identifies your goals, and works as a resume for your enterprise. Business plans should include a business description along with detailed financial projections, such as balance sheets, income statements and cash flow projections.
Because it provides specific information about your company and how you plan to repay borrowed money, a good business plan is a crucial part of any loan package. If you’re not applying for a loan—and many start-ups can begin operations for as little as a couple hundred dollars—you won’t need a business plan.
That’s not to say you shouldn’t define your business and identify your goals, however. For some, writing a business plan helps to create a better picture of their business. For those not applying for traditional loans, the plan does not need to be a formal document.
Which licenses and permits will I need?
The licenses you need depend on the business you’re opening. Some businesses, such as restaurants or child-care facilities, require significantly more licenses, permits and certificates to run safely and legally. Others require only the basic Business Privilege License.
All business owners must obtain a Business Privilege License and Federal Tax ID number to operate. Both can be obtained by a single application to the Department of Licenses and Inspections.
If you have questions about licenses, permits, inspections or certificates for your business, please contact the Empowerment Group.
Who issues business licenses?
In the city of Philadelphia, licenses are issued by the Department of Licenses and Inspections. Their offices are located in the Municipal Services Concourse at 1401 JFK Boulevard, Philadelphia, PA 19102.
How do I get certified as a woman/minority-owned business?
Several organizations certify minority- and woman-owned businesses. Each has a different emphasis and reaches a different target market. Philadelphia’s Minority Business Enterprise Council (MBEC) offers certification for those businesses seeking municipal contracts. These contracts cover everything from catering to contracting to janitorial services.
Many other organizations certify businesses for work in the private sector. Certification as a minority-owned business can be an asset in competing for contracts and procurement, but is only recommended for established businesses with the capacity to handle large contracts.
ENTREPRENEURSHIP PROGRAM FAQ
I need a business training course. What do you offer?
Our Entrepreneurship Training Course helps you gain insight into the most important person in your business – you! You’ll learn to effectively communicate about your business, and to take action towards achieving your business goals. Along the way, you’ll also develop the necessary skills to market your business and achieve your financial business goals.
The course meets once a week for 12 weeks at the Community College of Philadelphia’s Center for Business and Industry. Each session lasts for 2 to 2-and-a-half hours, and classes are held weeknights. Participation is restricted to Empowerment Group clients only, so in order to enroll, you must first complete a free Entrance Assessment with our Business Specialist.
How do I get involved with your program?
The first step of getting involved with the Empowerment Group is a meeting with our in-house Business Specialist for a free Entrance Assessment. At this meeting you will discuss where you are now with your business and where you want to be in the future.
Based on the information you share, our Specialist drafts a personalized Action Plan.
The Action Plan will assist you in reaching your goals by outlining all the steps you need to take to reach your goal. The steps can include:
- Participating in our workshops and business classes
- Developing a marketing plan
- Securing licenses and funding
Everything depends on YOUR needs.
After you review the Action Plan, you can enroll in the program.
What is your program like?
You may have heard about our business training courses, workshops and clinics. While many other business programs focus on these classes, Empowerment Group services are centered on one-on-one consulting. Our focus is on YOU, the business owner, and your own personal needs. Every business is unique, and we will work with you to reach your goals via personalized Action Plans and individual business consulting.
How much does your program cost?
Since everyone’s Action Plan is different, the cost of each program is different. Empowerment Group tries to make its services affordable to everyone, so we offer a sliding scale fee based on an individual’s income level. We will work to create a package that is affordable for each client.
Can you get me a grant?
Empowerment Group does not offer grants. However, we work closely with several area lending institutions. Our Business Specialist can get you in touch with these organizations, help you prepare your loan package, and will attend bank meetings with you.
Can you refer me to a good accountant/lawyer/web designer/etc.?
Empowerment Group has ties with several local small business specialists such as lawyers, accountants, tax specialists, and web designers, Empowerment Group will be able to help you find someone reliable and affordable. Contact us today!
YOUTH ENTREPRENEURSHIP PROGRAM FAQ
How long have you had youth entrepreneurship programs?
We have had our programs for four years.
What grades can participate?
We serve youth in grades 4-12.
Do you hold classes at Empowerment Group offices?
No, we partner with other organizations to deliver our youth program to their sites.
Do you hold classes outside of Philadelphia?
For now, we hold classes only in Philadelphia although in the future we may expand to other areas.
What types of programs to you have?
We have After-school and Summer programs and Youth Business Expos. Our After-school and Summer programs are structured around our core curriculum components. Clients can choose their program length: 5 weeks, 8 weeks, 10 weeks, 12 weeks, or 18 weeks. Our Youth Business Expo course is a 12-class, turn-key program, where a large group of students create their businesses as they learn vital business concepts. At the end of the program, students sell their products and services to the community, students, and teachers. Afterwards, students donate part of their proceeds to a charity of their choice.
Do you offer any advanced entrepreneurship programs?
Yes, we offer a 12-week entrepreneurship training program called the ELITE Group for grades 9-11. High schools join the program on a first-come-first serve basis, pay a membership fee, and sponsor a group of 6 to 10 students who will form a business team. Each team will create a socially responsible business plan. The program ends in a business competition awarding various cash prizes which will go toward each group’s business start-ups. Recruitment of new high schools for the next school year begins in the summer before the start of school year.
What do your curriculum core components cover?
Our core components fall in three main groups: life skills, community connection, and business skills. They range from effective communication and teamwork to addressing community needs through positive change to identifying a business opportunity.
What types of businesses have students created?
Our students are very imaginative and creative! They have created custom-designed t-shirts, nail sculpture services, baked goods and water ice, a variety store at a school, jewelry, masquerade ball masks, hand-decorated Polaroid pictures, website businesses, and more!
ENTREPRENEURSHIP WEEK FAQs
What is Entrepreneurship Week?
A week-long, city-wide campaign designed to celebrate Philadelphia’s small businesses, connect existing and aspiring entrepreneurs, and provide access to key business resources.
Back to Top
When is Entrepreneurship Week?
April 20th-25th
Back to Top
Is there a fee for events?
No! Events during Entrepreneurship Week are FREE and open to the public.
Back to Top
Do I need to register?
Registration for events is requested but not required to attend. To register, visit www.entrepreneurshipweek.com, email rsvp@empowerment-group.org or call 215.427.9245 x 402.
Back to Top
Do I need to be a business owner to attend?
No! Entrepreneurship Week is open to all individuals, whether you are looking to start a small business, already have an established business, or want to show your support for local entrepreneurs.
Back to Top
Can I bring my family and friends?
Of course! We welcome attendees to bring along any family, friends or co-workers that would benefit from this campaign.
Back to Top
Are children permitted at events?
Yes. All events are open to children, however, we differ to the judgment of parents and request that all children be accompanied by a guardian at all times during events.
Back to Top
Where can I find directions to events?
Directions can be found to all venues through our website at www.entrepreneurshipweek.com.
Back to Top
How do I become a sponsor, supporting business, or volunteer?
Email esmith@empowerment-group.org or call 215.427.9245 x 402.
Back to Top
GENERAL FAQ
What do you mean by creating change?
An overwhelming number of people in the U.S. live paycheck to paycheck, many with significant credit card debt. We seek to teach both adults and youth that they can break out of this cycle by exploring self-employment and business ownership as a viable option for generating income for themselves, creating jobs for others, and helping their local communities thrive.
How can I get involved in the Women Entrepreneurs’ Circle?
The Women Entrepreneurs’ Circle, a service of Empowerment Group’s SBA Women’s Business Center, meets once a month. Each month some of the top women business owners in the area gather at different women-owned businesses. The meetings provide an excellent opportunity to network and learn from other successful women business owners.
How is your organization funded?
Empowerment Group is funded through a combination of federal, state, city, and private grants. Some of our funders include:
- the U.S. Small Business Administration (we are a designated SBA Women’s Business Center),
- the U.S. Department of Health and Human Services,
- the Corporation for National & Community Service,
- Hewlett Packard Foundation,
- and the U.S. Department of Labor.
