Powering Arizona's Black entrepreneurs one business at a time.
Local First Arizona’s We Rise business accelerator is a new, no-fee six-month program offering comprehensive and practical business skills to Arizona’s Black entrepreneurs.
Meeting bi-weekly, business owners receive classroom instruction and mentorship from Black entrepreneurs with firsthand experience and expertise in starting or growing a small business in Arizona. The We Rise business accelerator exposes start-up or experienced businesses that are missing fundamental components of entrepreneurship to the nuts and bolts needed to build a successful business in Arizona’s economy. Classes will be through remote learning.
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Criteria
The following are criteria for individuals interested in applying for the We Rise business accelerator:
Self identifies as a Black-owned business.
Must be 18+.
A Black American entrepreneur with some experience of running a business. The prospective candidate must have some knowledge of entrepreneurship but needs assistance with the fundamentals of establishing or growing a business such as creating a business plan, registering their business, etc.
Business owner(s) must be available bi-weekly on Wednesday nights from 5 to 7 p.m. to attend class. Given the rigor of the program, participants can only have 1 absence of class. Please inquire about child care options for parents who are accepted into the program.
Curriculum
The business accelerator consists of 14 modules of content across 26 weeks that encompass 5 vital components of entrepreneurship and 1 customized module tailored to the Black community’s experience in business. The curriculum is robust, engaging, hands-on, and practical. Learners will receive classroom instruction on a bi-weekly basis via zoom and are expected to spend 2 to 4 hours per week completing assignments outside of class.
Business Finance: Get your money right.
According to the 2016 Ewing Marion Kauffman Foundation annual survey of entrepreneurs on startup financing by race, Black entrepreneurs are almost three times as likely as whites to have profitability hurt by lack of access to capital and more than twice as likely as white entrepreneurs to have profits negatively impacted by the cost of capital. The business finance module explores the most common forms of finance for small businesses, including their advantages and disadvantages, to help cohort members make better business finance decisions for their ventures. Each session will feature a local expert in the three most common forms of finance (debt, equity, and grants).
Business Model Development: So you wanna do business?
In business, it is crucial to establish systems and processes for how an operation functions. Business models are designed to represent a business’s operations, revenue sources, and strategies. The We Rise business accelerator features 3 business development modules that will assist you in finding the right model for your business.
Business Plan: The nuts and bolts.
A blueprint of a business that every entrepreneur and business owner must have in seeking funding from investors, banks, or credit unions. For the We Rise business accelerator, 5 business plan writing workshops assist learners in creating their own successful business plan.
Pitching for Success: Make it Happen!
Pitching a business is a vital component of entrepreneurship as it can lead to investment opportunities, sales, and more. In this module, participants learn about pitching their business through storytelling and the use of pitch decks. By the end of this module, learners will develop communication and presentation skills that help them convey their business to potential customers, investors, and other stakeholders.
Black in Business: Doing business while Black.
In partnership with Thomas Resources, this module explores the challenges associated with being a Black business owner, elevating important and honest conversations about how to navigate the system and create a safe space to support one another as a community of Black business owners.
Networking & Storytelling: Can you talk that talk?
Networking and the ability to sell your business are important skills to have as an entrepreneur and business owner. In this module, learners develop networking skills and are given an opportunity to use these skills in a virtual networking environment.
Need Access to Capital?
For most low or moderate-income, unbanked, and under-banked individuals, the lack of access to capital prevents them from taking advantage of viable opportunities that could make a positive impact in their lives and the lives of their children. Explore funding options that help individuals and families take advantage of opportunities and serves as a financial buffer during times of need.
Mentorship
A vital component of assisting Black-owned businesses in becoming successful is mentorship and relationship building. For these reasons, the We Rise program has recruited seasoned Black entrepreneurs and business professionals from various industries in Arizona to mentor the business owners in the program. The “We Rise” mentorship program has been designed for mentees and mentors to meet twice a month to work on the growth and development of the mentee. Mentees and mentors commit a maximum of 2 to 3 hours a month to meet and work together for the 6-month duration of the program.
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Our We Rise Team
Questions?
Get in touch at carmen@localfirstaz.com