ENTREPRENEURIAL TRAINING SPRING SESSION CLASSES WILL BE OFFERED AT 10 NEW JERSEY LOCATIONS

TRENTON, N.J. (February 13, 2007) – Spring Session classes for the popular Entrepreneurial Training Institute (ETI) are scheduled to begin next month at 10 locations throughout New Jersey. The program helps existing and aspiring small-business owners learn the basics of entrepreneurship and how to prepare a detailed business plan. The course will be offered in Jackson, Jersey City, Mount Laurel, North Branch, Perth Amboy (Spanish-speaking only), Trenton, Union, Vineland, Washington, and Wayne. The innovative ETI program helps to advance Governor Corzine’s Economic Growth Strategy 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).

Approximately 1,300 people have graduated from the program since it was established in 1992, many of whom are either well on their way to establishing their own business or are already successful entrepreneurs.

“Instruction team members for each ETI class location are primarily associated with local banks and economic development organizations,” said EDA Chief Executive Officer Caren S. Franzini. “This means that students learn from the same experts who might ultimately finance their business.”

The program is divided into ETI I and ETI II segments. All classes will be held between 6 and 9 p.m. The ETI program for Spanish-speaking students is offered in Perth Amboy.

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. The cost of $145 will cover six classroom hours (two sessions), plus professional feedback, text materials and resources.

ETI II, “Business Planning,” includes four highly structured three-hour sessions that help students develop a formal business plan with feedback and coaching. A fee of $295 will cover 12 classroom hours plus professional feedback, text materials and resources, guest speakers and presentation practice. 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 growing existing businesses. 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 one-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 also can 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. For existing business owners, the mentor provides information on how to improve or expand operations.

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.

*ETI for Spanish-Speaking Only