Akron Urban League, Akron SCORE and Kent State University have formed a collaboration to propel minority business growth in Northeast Ohio.

The Partnership for the Minority Business Accelerator, a consortium of these three organizations, will provide the education, training, mentoring, intensive support, networking and cultural understanding required to significantly increase the success and growth of minority-owned businesses.

Dr. Lester A. Lefton, president of Kent State University, explains the impetus for forming the partnership: “Fostering minority-owned small businesses is important to Northeast Ohio because racial inclusion, ethnic diversity and individual entrepreneurship contribute to the economic growth of a region. The Partnership for the Minority Business Accelerator will leverage the partners’ resources and expertise to support minority business owners in a comprehensive way, giving them the best opportunity for success. Thanks to the GAR Foundation for recognizing the importance of the Partnership for the Minority Business Accelerator and providing the funding support to make it happen.”

The accelerator is a two-year program that provides intensive support to African-American and Hispanic owners of small- to medium-sized businesses with growth potential in Medina, Portage and Summit counties. Businesses must be for-profit, at least one year old, with gross revenue from $50,000 to

$2.5 million. They must have majority African-American and/or Hispanic ownership, and they must be located in Summit, Medina or Portage County. The PMBA fills a gap in Northeast Ohio by supplying intensive support to promising young, small- to mid-sized minority-owned businesses in the region.

Bernett L. Williams, president and CEO of the Akron Urban League says, "Individualized business assistance services are long overdue. Both Kent State and SCORE have excellent reputations in small business development. The business accelerator partnership will further enhance minority business assistance offered by the Akron Urban League." The Akron Urban League Minority Business Development Center offers programs and services to assist minorities interested in launching, growing and expanding successful businesses. The Minority Business Development Center offers business training, counseling, networking, construction training, financial assistance and more.

Martin Oppenheimer, outreach chair at Akron SCORE, comments: “The Partnership for the Minority Business Accelerator is an outstanding opportunity for Akron SCORE, Kent State University and Akron Urban League to assist existing small- to medium-sized minority businesses in Summit, Portage and Medina counties. While these businesses historically have been underserved, the PMBA consortium is the first program of its kind to support them. Proven business strategies will be used to help these businesses. Akron SCORE will provide free business education, counseling and mentoring to the clients participating in this program.”

Each business owner’s specific needs and goals will be identified through evaluations, counseling, mentoring and workshops. Services provided will include business development strategies, management assistance, business education/training and assistance in securing business loans.

The minority business accelerator dovetails into the region’s Advance Northeast Ohio economic action plan, which has identified urban assimilation and racial inclusion as attributes that positively impact the growth of regional economies.

Funding of $345,580 for two years of operation has been awarded by the GAR Foundation. Christine Mayer of the GAR Foundation comments on the appeal of the project: “The GAR Foundation is enthusiastic about the Partnership for the Minority Business Accelerator because it fulfills a genuine community need and it supports the Advance Northeast Ohio plan’s call for increased economic opportunities for minority-owned businesses. We also like the fact that this collaborative partnership leverages the strengths of three important community stakeholders – the Urban League, Kent State University and SCORE – to deliver results for the region.”

The Partners

For 82 years, the Akron Urban League has improved the quality of life for the citizens of Summit County, particularly African-Americans, through advocacy, education, economic empowerment, developing partnerships and community outreach.

Akron SCORE is a non-profit group of active/retired men and women executive and business owners who provide free counseling, mentoring and workshops to entrepreneurs, existing businesses and the academic community in Summit, Portage, Medina and Wayne Counties.

Kent State University, a major research university with eight campuses, ranks among the nation’s 77 public research universities demonstrating a high level of research activity by the Carnegie Foundation for the Advancement of Teaching. The Foundation also affirms Kent State as one of nine universities in the nation with the added classification of Community Engagement, Outreach and Partnerships. Kent State’s nearly 34,000 students can pursue opportunities in 281 academic programs and extensive graduate offerings, all geared to academic excellence and student success.

With about $185 million in assets, the GAR Foundation is among the largest private foundations in Northeast Ohio. Since its inception in 1967, GAR has distributed more than $155 million to support charitable organizations within the Foundation’s areas of interest. Charitable priorities include education, social services, economic development and arts education, with a preference for organizations in Summit County. The GAR Foundation is a private, independent foundation established by Galen J. Roush, co-founder and chief executive officer of Roadway Express.

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Media Contact:
K. Marie David, 330-672-8661, kdavid@kent.edu