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Businesses Launching and Thriving Through FastTrac NYC

4/30/2010

MEDIA ALERT/NEWS COVERAGE OPPORTUNITY/LOCAL EVENT LIST

Businesses Launching and Thriving Through FastTrac NYC

MANHATTAN—On Saturday, May 1, new and existing NYC small business owners will exhibit their businesses at the FastTrac® NYC Spring Business Expo. The New York City Department of Small Business Services has partnered with The Levin Institute, the Deluxe Corporation Foundation, and the Kauffman Foundation to provide two FastTrac programs to New Yorkers at no cost: FastTrac NewVenture and FastTrac GrowthVenture.

FastTrac is a training program to help emerging entrepreneurs, including those displaced from previous jobs during the recession, start new businesses and help existing entrepreneurial business owners grow their businesses. Mayor Bloomberg endorsed the FastTrac program in March 2009 stating, "New York City's workforce is the hardest-working and most talented in the nation, and that's an asset we cannot afford to squander." FastTrac is one of the services offered by NYC Business Solutions at no cost to help businesses start, operate and expand in NYC.

The NYC Spring Business Expo will highlight the program’s success after its first year and showcase the entrepreneurs who are helping boost life back into the city’s economy. The Expo will provide NYC small business owners the opportunity to network with peers, potential investors and consumers, and community leaders.

One year after launching, both programs have not only increased the number of entrepreneurs in NYC, but have also prepared entrepreneurs with the skills and knowledge needed to run a successful business. Below are highlights of FastTrac’s success in New York City.

FastTrac in New York: One Year Later, March 2010 Statistics

Enrollment for FastTrac® NewVenture TM and GrowthVenture TM:

  • 823 people enrolled as of March 2010 (goal of 800)
  • 29 courses completed (goal of 29)
  • 673 entrepreneurs and business owners graduated
  • 82% graduation rate

Demographics:

  • Top three sectors of FastTrac businesses are Professional/Scientific Services (24%), Retail Trade (22%), Information/Media/Internet (16%)
  • FastTrac serves participants from all five boroughs

The FastTrac NewVenture program is designed to help entrepreneurs determine the viability of their business concepts and assist in outlining the critical steps to a successful business launch. The FastTrac GrowthVenture program is designed to provide business owners the tools and support to carefully review and evaluate important aspects of their business, explore next stage growth and opportunity, and reshape their existing business for future profitability and improved business performance. FastTrac was developed by the Ewing Marion Kauffman Foundation. The Kauffman Foundation is devoted to advancing entrepreneurship as one of the fundamental aspects of life in the United States. Focusing on research, education, technical assistance, and policy, the Kauffman Foundation works to increase the number and success rate of individuals engaged in the process of starting or growing their own business or idea.

RSVP in advance for the FastTrac Spring Business Expo at www.onlinersvpbest.com, enter Event ID 2540!

EXPO DETAILS:

WHO:          Local Officials, Community Leaders, Entrepreneurs,

                    FastTrac Program Alumni, Press

EVENT:        FastTrac NYC Business Expo

DATE/TIME:Saturday, May 1, 2010 

                    1:00-5:00PM

LOCATION: SUNY Levin Institute 116 East 55th Street, New York City, NY 10022

    • Stories
    • Living the life of an entrepreneur
    • Read the stories—both the ups and downs—of FastTrac graduates starting and growing businesses.