ENTREPRENEURIAL TRAINING FALL SESSION CLASSES WILL BE OFFERED AT NINE NEW JERSEY LOCATIONS

TRENTON, N.J. (August 16, 2006) – Fall Session classes for the popular Entrepreneurial Training Institute (ETI) are scheduled to begin next month at locations throughout New Jersey. The program helps new and aspiring small-business owners learn the basics of entrepreneurship and how to prepare a detailed business plan.

Fall ETI sessions will be offered in Newark and Wayne in northern New Jersey, Jackson, North Branch and Trenton in central New Jersey, and Voorhees and Woodstown in southern New Jersey. Specialized instruction will be available in Union City for Spanish-speaking students and in North Brunswick on earned income ventures for nonprofits. All classes will be held between 6 p.m. and 9 p.m., except the North Brunswick class, which will be held from 9 a.m. to 12:30 p.m.

The innovative ETI program supports state initiatives to foster the growth of small businesses, particularly woman-owned and minority-owned enterprises. It is sponsored by the New Jersey Economic Development Authority (EDA) and the New Jersey Development Authority for Small Businesses, Minorities’ and Women’s Enterprises (NJDA).

The ETI program is offered in two segments. In ETI I, “Get Set for Entrepreneurship,” students focus on small-business feasibility, examining their business ideas, evaluating skills and risks, and identifying the resources necessary to move forward. ETI II, “Business Planning,” includes four highly structured three-hour sessions that help students develop a formal business plan with feedback and coaching.

Instruction team members for each ETI class location are primarily associated with local banks and economic development organizations so students can learn from the same financing experts who might ultimately finance their business.

Prospective students should visit www.njeda.gov on the Internet to complete the ETI Self-Assessment Tool to determine their personal and financial readiness for starting and owning their own business. This tool will benefit anyone who is considering enrollment in the ETI program or thinking about starting or improving a business operation. Students enrolled in ETI I must complete the self-assessment and bring it to the first class.

To enroll in ETI II, students with startup businesses or businesses less than 1-year-old must complete the self-assessment, ETI I and a Business Readiness Roadmap. Students who have operated a business for more than one year need only submit a completed Business Readiness Roadmap.

Once ETI II classroom sessions are completed, students submit their business plan to a panel of banking, accounting, law, marketing and economic development professionals for a thorough review. A sound business plan is necessary when students seek financing.

ETI graduates can also utilize a Business Mentoring Program, which provides free post-graduate services through four business development organizations covering the state. The program, which is funded by the EDA, provides mentors to assist graduates in overcoming the obstacles they typically face as new business owners.

Primary sponsors of the ETI Program are Bank of America, Merrill Lynch, PNC Bank and the Wachovia Foundation. The EDA provides financing and technical support to encourage business and job growth in New Jersey. The NJDA offers financing, technical assistance, training and mentoring programs to small businesses, especially woman-owned and minority-owned enterprises.