Young Entrepreneurs To Discuss Merits of Unique Entrepreneurial Program
But, first, you learn how to run a business. And, if you are really smart you enroll in the Prudential Young Entrepreneur Program (PYEP), a course of instruction offered at the NJIT Enterprise Development Center. The nine-week course teaches young entrepreneurs the ins and outs of starting a successful business and focuses on developing a business plan. The course is only available in the U.S. at NJIT and another enterprise center in Philadelphia, Pennsylvania.
Eme finished the program in the fall of 1999. Among the lessons she learned were how to start and operate a business, plus free lectures by professionals about accounting and legal issues. But starting a new business takes time and energy. She would still need to write a business plan, research her field, apply for loans, hire architects, and more. All the while, she would continue working as a paralegal for a Newark law firm and give birth to her second son. Finally in April of 2002 her groundwork was completed and Eme opened Sunshine Daycare Center. Eight youngsters, including her own two children, are now enrolled in the 1500-square-foot, ground-floor facility in a three-story office building.
"The program gave me the opportunity to start my own business and provided me with information that was clearly needed," says Eme. "It's been a wonderful opportunity to go through this process and learn the right way to do things. Not only am I an owner/operator of a childcare business, I'm also a parent who can enjoy the luxury of attending outings with my children and participating in their activities."
"We are delighted by the ambition and success of our Prudential Young Entrepreneur Program graduates," said Gabr iella E. Morris, president of The Prudential Foundation and vice president of Community Resources, Prudential Financial, Inc. "The opening of Danean's Sunshine Daycare Center is a stellar example of how dreams can become reality and how with the opening of each new business, the PYEP program drives economic revitalization in urban areas."
The PYEP is an extensive, multi-year entrepreneurial development and job creation program for young adults between the ages of 18-30. It combines business training, technical assistance and microloans to qualified young adults establishing business in targeted urban areas. Current target areas are Newark, NJ and Philadelphia, PA. The services are provided through innovative partnerships with the country's leading entrepreneurial curriculum development, business incubation and microenterprise organizations. The Association for Enterprise Opportunity provides the PYEP with comprehensive program and fiscal management.
"We are pleased to see PYEP graduates such as Danean Eme continue to succeed. The opening of the Sunshine Daycare Center proves that PYEP not only teaches valuable skills but also helps to build businesses and foster community, said Bill Edwards, Executive Director of AEO. "It is especially gratifying to see this childcare center open up at this location in downtown Newark and reflects the long-term commitment of Prudential to the revitalization of Newark. Prudential continues to be a role model for corporate responsibility in America."
"Danean's business represents the true manifestation of the goals of PYEP and the inclusion of young urban residents into the rebirth and economic prosperity of Newark. Her demonstrated drive and attitude for success are exemplary," said Stash Lisowski, EDC Executive Director."
The EDC accelerates the successful development of entrepreneurial companies through business support resources and services, developed or orchestrated by EDC management, and offered in the incubator and through EDC contacts. Incubator graduates create jobs, revitalize neighborhoods, commercialize critical new technologies and strengthen local and national economies. EDC gives clients access to rental space and flexible leases, shared basic services and equipment, technology support services, and assistance obtaining financing.
PYEP classes are limited to 20 students who may range from people like Eme who see themselves in an early business development stage to others who have already started businesses. In addition to assisting participants in developing business plans, business financing between $1,000 - $15,000 is available to qualified candidates as well as pre-loan and post-loan technical assistance. Graduates are also eligible for admittance into the incubator program. About 55 students participate in these courses per year.
For more information on the Prudential Young Entrepreneur Program please contact Stacy Simmons, Program Coordinator in Newark, at 973-643-4063, firstname.lastname@example.org. .
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