According to MBDA’s The State of Minority Business Enterprises, minority-owned firms generated more than $661 billion in annual sales and employed approximately 4.7 million people. From 1997 to 2002, the number of minority firms grew at a rate of 35 percent.
The Center for Entrepreneurship & Innovation (TCEI), in collaboration with its partners, will serve as a hub for Metro Detroit entrepreneurs to interact as they participate in a variety of business workshops, educational seminars and a certified entrepreneurial program.
“Our focus is to enhance entrepreneurial performance,” says Edward Foxworth III, founder and CEO of The Center for Entrepreneurship. “In the midst of Detroit’s renaissance, there are millions of dollars in contracts ready to be awarded to capable businesses; however, people and their respective businesses must be trained.”
Having formed partnerships with the Elijah McCoy U.S. Patent and Trade Office, TechTown and a number of other business development organizations, The Center for Entrepreneurship & Innovation will be housed in the new Mid-Town Business Center, located at 7650 2nd Avenue in Detroit, Michigan and will open in early Fall 2014!
“Business ownership has always been an intrical part of our community”, says Foxworth. “Throughout history, African American entrepreneurs have produced and sustained profitable businesses with the likes of Madame C.J. Walker, Reginald Lewis, Cathy Hughes, Russell Simmons, Oprah Winfrey and countless others. They observed what was needed in the marketplace and filled it with a product or service”.
Today, the same holds true. However, in light of global competition and the age of technology, business owners are utilizing cutting edge strategies for growing their ventures. A vista print card and a nice smile are no longer the process for getting ahead. Trained and certified professionals who are willing to put in the work is the 21st century approach for conducting business and thousands of ethnic entrepreneurs have gotten off track. In the meantime, there are significant contract opportunities, funding sources, and potential clients available for business owners, who can execute a plan, are financially sound and who know what they are doing.
Small business owners currently meet at a Tim Horton’s or Starbuck’s while babying a small cup of coffee and utilizing their free Wi-Fi, totally missing out on larger deals, the prospect for better networking as well as an opportunity to exchange ideas and challenges with like-minded people. Beginning this Fall, TCEI will be that place! Complete with a Business Café, Training Facilities, encrypted Wi-Fi and an opportunity to Network and so much more to come. The website www.center4entrepreneurs.com will launch on October 3 with more information about the organization, membership opportunities and upcoming trainings.
Edward Foxworth III is CEO of The Center for Entrepreneurship & Innovation in Detroit Michigan, a facility dedicated to training, advising and facilitating opportunities for aspiring and existing emerging business owners. His book, “The Six Routines of Self-Discovery, Part of the Recapture your Passion System” is available at www.edwardfoxworth.com.
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