African American Business Development Program

The mission of the African American Business Development Program (AABDP) is to create an environment where experienced owners are challenged to explore new leadership concepts and opportunities that will create sustainable companies that benefit the community through economic growth and job creation.

PROGRAM DATES

October 21, 2022 – March 9, 2023

LOCATION

Virtual

Applications are Closed

Program Details

Program Description

African American Business Development Program (AABDP) is a comprehensive 7-month business development program designed for African American business owners who want to build sustainable and scalable companies. At the core of this Program is a community of peers; classmates support and encourage one another to pursue business growth. The course is guided by certified program directors, course facilitators, and subject matter experts. The highly selective program is limited to 10 participants per class. Applicants must have a minimum of two (2) years in business or comparable business experience and at least with the potential to grow revenues $250,000 or more.

Program Benefits

Participate in thought-provoking leadership training activities.
Gain a broader perspective of business issues and the economic impact.
Participate in interactive problem solving sessions designed to strengthen business strategies.
Expand professional networks and enhance personal relationships.
Receive recognition and graduate with knowledge necessary to make substantial contributions to the quality of life across our region.
Leave with a plan and strategies for leveraging your MBE or WBE or SBE certifications.

Program Topics

Session 1: Listening to Your Business

Session 2: Leading the Organization, Sizing Up Your Business, & Managing Operations for Growth

Session 3: Strengthening Your Product/Service & Leveraging Your Certification

Session 4: Exploring Growth Oppts & Seizing the Market

Session 5: Using Financial Tools

Session 6: Charting Financial Performance & Making Strategic Decisions

Session 7: Making it Happen

Required Documentation

Application
3 Years of Income Tax (supplement with personal)
2019 Profit and Loss Statement
Business License (if applicable)
Resumes of all owners
Franchise, Trust and/or Union Agreements (if applicable)
Capability Statement (if applicable)

Assumed Name Documents

Partnership Agreements
Ltd Partnership Certificate
Buy Out Rights Agreement
Profit Sharing Agreement
Proof of Capital Investment by all Partners

Certificate of Organization
Articles of Organization
Minutes from Shareholders first organizational meeting
Minutes from Shareholders/ Board of Directors’ meeting establishing current ownership
Minutes from most recent meeting of shareholders
Minutes from most recent meeting of board of directors
Proof of Equity Investment for Women owners
Corporations Bylaws
Certificate from board secretary certifying names of all current members
Both sides of all stock certificates
Stock transfer ledger
Proof of stock purchase or equity investment of women owner(s)
Voting Agreements If out of state Corporation, Proof of Authority to do business in State
Schedule of Advances made to Corporation by shareholders for the preceding 3 years

Articles of Organization
Certificate of Organization
LLC Regulations
Member List w/ titles
Proof of Equity Investment for Women owners
If out of state LLC, Proof of Authority to do business in State
Schedule of Advances made to LLC by members for the preceding 3 years

Program Timeline

Please complete the application in its entirety to qualify for the program. Once your application is received, you will be advised of the next steps and other information that might be in need.

Applications Open: January 26, 2022

Applications Close: August 29, 2022

Acceptance Notification: September 6, 2022

Program Start: October 21, 2022

Program End: March 9, 2023

More Information

Tuition & Cost

The tuition* of each participant is $1,850 and $1,250 for a second individual from the same company. Full tuition upon acceptance to the program, however, we are open to providing payment options. A partial Scholarship is available.

Who’s eligible

Eligible businesses must meet the following requirements:

Business must be at least 51% Black-owned, operated, and controlled
Applicants must have a minimum of two (2) years in business or comparable business experience and at least have the potential to grow revenues of $250,000 or more