FastTrac NewVenture

Given the current economy and unemployment figures, displaced workers of all backgrounds are exploring alternative options for securing income.  Some are retooling their skills by pursuing advanced educational degrees or enrolling in new training programs.  Others are contemplating the possibility of venturing into the realm of business ownership by making their specialized services available on a contractual basis or by expanding what might have been a hobby into a full-time job.

Macomb County Small Business & Technology Development Center (SBTDC) is helping these individuals begin on sounder footing with a new business development program.  FastTrac NewVenture is a ten-week program designed to help would-be entrepreneurs assess the feasibility of their business concept; identify market needs; analyze and select target markets; develop a comprehensive business plan and operating budget; and uncover financing options.

Led by SBTDC staff, instructors included local professionals in law, accounting and finance. Students were also given the opportunity to meet with successful local business persons. Guest speakers - all recipients of the prestigious “Michigan’s 50 to Watch” distinction - included Wendy Achatz of Achatz Pies; Misty Delgato of Relevar Home Care; Jim Houser of Elite Mold and Engineering and Joe Mandeville of Eagle Manufacturing Corporation.

Typically, the course would include a $700 registration fee.  However, each participant was able to attend at no charge thanks to subsidies offered by the Ewing Marion Kauffman Foundation, the New Economy Initiative and the federally funded Neighborhood Stabilization Program.

Eighteen participants completed Macomb County’s first FastTrac program. Evaluations were strongly positive. In January, a review committee representing loan officers from three banks will review the finalized business plans to assess their financial feasibility. Representatives from Community Central Bank, Huntington Bank and National City/PNC Bank are donating their time to provide valuable insight and feedback to course participants.

The next FastTrac NewVenture program is scheduled to begin on Monday, February 1, 2010 at the Macomb County Administration Building. To register for the Macomb County program and receive a full scholarship, individuals must attend an orientation on January 25 to be held at TechTown. For further information, please call the Macomb County SBTDC at 586-469-5118.