As part of our commitment to entrepreneurial leadership that fosters economic and social growth, we design and deliver sponsored programs in partnership with banks, foundations, and other organizations that aim to create philanthropic growth programs. These programs for entrepreneurs and small business owners can take place in partnership with other organizations, cities, governments, regions, and more.
Challenge
Santander Bank was looking to help early-stage entrepreneurs in low and middle-income U.S. neighborhoods build and sustain their businesses. Santander aimed to provide particular support to women-, minority-, and immigrant-owned businesses in food-related industries.
Solution
In partnership with Babson, ICIC, CommonWealth Kitchen, and LAEDA, Santander’s overarching program provides participants with industry specific training, networks, and mentoring, as well as small capital grants.
Babson develops and delivers the customized training curriculum for participants over a three-month period. Our interactive business education curriculum involves virtual classes designed specifically for food-industry entrepreneurs.
Results
The inaugural class of 30 business owners ran in October 2017. We have since trained almost 100 entrepreneurs working in businesses such as processing, technology, manufacturing, and food service.
This program is unique because in helping these food-based businesses to sustain and grow, they also sustain and grow their communities. By applying Entrepreneurial Thought & Action® approaches, these entrepreneurs will learn to assess opportunities, experiment, and build their businesses.
I find the program is helping me stay focused on the big picture, as I often get too caught up in the day-to-day operations of my business. One of my big goals for 2018 is fundraising, and, so far, the program has really helped me think critically and in the language of a business plan. Another great perk of being part of this group is that I’m able to get to know so many other entrepreneurs, and I’ve gained some really good insights from them.
