General Business
On Jan 17, 2025
Invest Newark yesterday celebrated the graduation of 16 small business owners, who identify as Black, Indigenous and People of Color (BIPOC), from its Executive Business Accelerator Program during a ceremony held at Newark City Hall. Among the graduates, 19% identified as Hispanic or Latino, 81% as Black or African American and 70% represented women-owned businesses.
The seven-month program, which uses Interise’s award-winning StreetWise ‘MBA’™ curriculum, provides established small business owners with over $100,000 in annual revenues and at least one other employee with practical training in areas like strategic planning, marketing, financial management, procurement and sales. To complete the program, graduates must develop and present a customized three-year growth plan for their business.
Newark Mayor Ras J. Baraka delivered remarks, congratulating the graduates and highlighting the program’s vital role in supporting the city’s economic growth and entrepreneurship ecosystem.
“The Executive Business Accelerator Program is helping small businesses in Newark grow and thrive,” said Baraka. “By equipping local entrepreneurs with the knowledge and resources they need, this program is strengthening our city’s economy and ensuring long-term success for our businesses.”
Since 2020, the program has supported more than 60 Newark-based CEOs across industries such as hospitality, construction, food manufacturing and accounting. Data collected in 2023, following the graduation of the previous cohort, shows that 76% of alumni businesses reported increased or maintained annual revenues, 77% were profitable, and 77% hired local full-time staff. Graduates are also eligible to compete for Business Development Grants, with $15,000 in total grant money available for each cohort.
“This program continues to prove its value by helping businesses reach new heights,” said Marcus T. Randolph, CEO of Invest Newark. “We are proud to support entrepreneurs who are committed to growing their businesses and contributing to Newark’s economic future.”
Graduates of the 2024 cohort include the following businesses:
- BWS Massage Concierge, LLC
- AP Business Services
- DYNAMIC DIGITAL AIR
- Amazing Strides
- S&A AUTO CENTER
- Transform The Hustle
- All Star Development Enterprises, LLC
- Just Right Technology
- Proud 2 Be Me Learning Center
- Bara Ex Nihilo Holdings, LLC (BENH)
- M Campbell Development
- TMA General Contracting LLC
- Ochoa Enterprises, LLC
- Organic Lyfe LLC
- Brick City Strength
- Uncle Willie’s Wings
This initiative is part of Invest Newark’s ongoing commitment to supporting local and BIPOC-owned businesses, fostering an inclusive entrepreneurial ecosystem, and driving equitable economic growth in the city.
“We’re proud to partner with Invest Newark to offer this transformative program,” said Elizabeth J. Reynoso, Director of Research, Evaluation & Impact at Interise. “The outcomes demonstrate the power of equitable business education, leveraging Interise’s award-winning StreetWise MBA program. By empowering business owners in underserved communities, we’re working together to close the wealth gap and create an inclusive economy for all. I encourage eligible small businesses in Newark to apply for the 2025 cohort at programs.interise.org/newark
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