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News Flash! October, 2003
• Apply Now to Participate in Special
Business Course
• Urban Enterprise Loan Program
• MBEs: How Does Your Business Rate?
• General Meeting Reminder
_____________________________________________________________________
Apply Now To Participate
In
A Special Business Course
The John Cook School of Business at Saint Louis University is seeking the participation of small businesses for its Integrated Consulting Course for MBA students. The course uses a "live case" approach, which involves business firms working with the class on a real-time strategic business problem faced by the firm. The interactive involvement of owner/managers with students is regarded as one of the strengths of the course.
Student teams are assigned to each firm with the goal of developing a business strategy or plan to address the issues presented by the firm. At the end of the course, the student teams provide a written report and an oral presentation to the participating business firm.
The St. Louis Minority Business Council, Pfizer (formerly known as Pharmacia) and Monsanto are working with the John Cook School of business to provide support of this class.
Applications are being taken now for the Spring semester, which begins February 4 and ends April 28, 2004. Criteria for business firm selection include:
•A small business with 3 or more employees located in the St. Louis metropolitan area with an interest and need to develop a business strategy.
•A commitment by the owner/management of the firm to meet weekly for 7 or 8 weeks during the 12-week period.
•The firm to pay a $500 stipend to the John Cook School of Business with a $200 rebate at the end of the course.
•The firm to share information about its business plan. Students are held to a strict confidentiality standard.
For more information and an application, call the St. Louis Minority Business Council at 314-241-1143.
Urban Enterprise Loan
Helps Small Businesses
Paul "Pablo" Weiss has been in the restaurant business for a number of years. When he was offered the opportunity to develop a restaurant that would anchor the renovation of The Merchandise Mart in downtown St. Louis, he jumped at the chance. This would be a big project, fueled by his vision and desire to enlarge and redefine history in this magnificent building for a whole new generation.
But big ideas often come with a big price tag, and that's when Pablo called the St. Louis Minority Business Council to assist with funding. Larry Dill, Director Financial Services at the Council oversees the Urban Enterprise Loan (UEL) program and assisted Pablo with UEL funding.
The Urban Enterprise Loan program is funded by the State of Missouri to assist small businesses in designated enterprise zones including specific areas in the city of St. Louis. These loans offer favorable interest rates and terms and can be used to start a new business, purchase equipment or inventory, purchase an existing business or for working capital. To be eligible, a for-profit business must have less than 100 employees as well as another source of funding since UELs are for partial funding only.
Today, with the help of an Urban Enterprise Loan, Pablo runs the successful Kitchen K Bar and Restaurant at 1000 Washington Avenue. For more information about the UEL program, call the St. Louis Minority Business Council at 314-241-1143 and ask for Larry Dill.
MBEs: How Does Your Business Rate?
The St. Louis Minority Business Council has completed a state-of-the-art, online assessment tool to help MBE's grow their business. This is a major new development, based on extensive research, that we hope will prove to be a valuable resource for all certified SLMBC MBE's in the St. Louis area.
By answering questions easily and efficiently online, business owners will immediately receive a score from 1 to 10 in various categories, called Critical Success Factors. These success factors include all areas of business from strategic planning and leadership skills to marketing and finance. Based on the results, the Council can recommend targeted training and education programs to improve specific areas.
To assess for success,
log onto: www.slmbeSUCCESS.com
For more information, call the Council at 314-241-1143.
Join us on Thursday, October 23 at Harrah' Casino for the next General Membership meeting. The Guest Speaker is Kathleen Osborn, Executive Director of the Regional Business Council. Her presentation. Please RSVP by October 17th to Valerie Shelton at (314) 241-1143 ext 20.