New Report Finds, Despite Current Economic Times, Established Small Businesses are Creating Jobs and Increasing Revenue

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Nov 17, 2011, 10:37 ET

BOSTON, Nov. 17, 2011 /PRNewswire/ -- As the nation commemorates November as National Entrepreneurship Month, a new report released today on established small businesses found 46 percent added new jobs and 57 percent reported an increase in revenue last year, while securing millions in new financing. In its 2011 Annual Report Card, Interise, one of the only non-profits specifically dedicated to the growth and success of established small businesses, reports small business entrepreneurs who completed a rigorous StreetWise 'MBA'™ program were empowered with the tools and know-how to grow their businesses and create new jobs.

"While much attention is focused on startups, evidence shows that, across all industries, job growth and economic revitalization can be found with the established small businesses that show a high potential for growth," said Interise CEO Jean Horstman. "The proof is in the numbers – small business employers who complete a StreetWise Steps™ curriculum program are creating lasting social and economic impact. For long-term success, the proven key is to pull these entrepreneurs out of isolation so they can focus on what they need to learn to thrive."

Since 2005, Interise has been tracking small businesses which have participated in a StreetWise Steps curriculum and found staggering growth results. In its 2011 Annual Report Card, Interise found the overall growth rate for participants was 22 percent. As a group, they secured over $12 million in new financing and $322 million in government contracts. Combined, these small businesses resulted in 62 percent adding new jobs or maintained all jobs, accounting for 516 net new jobs in just one year. http://www.interise.org/files/INTERISE_REPORT_CARD_2011_WEB.pdf

Specifically, the report found:

Job Creation
- 46 percent of companies hired new employees
- Average annual salary of new fulltime employees $41,500
- Those that added jobs, the median net new jobs per business 3.0

Revenue
- 57 percent of businesses increased revenue
- Average amount of new revenue per business $31,000

Financing and Government Contracts
- Total amount of new financing secured $12 million
- Average new financing secured per business $50,000
- 47 percent of entrepreneurs obtained government contracts
- Total amount of government contracts obtained $322 million

Access to New Knowledge
- 67 percent of entrepreneurs are following their growth plans
- 61 percent of entrepreneurs reported they know how to effectively market and sell their products and services
- 64 percent of entrepreneurs say they know how to make an effective case for additional funding

Community Involvement
- 79 percent of entrepreneurs are active in their local communities
- 60 percent of business owners have leadership roles in their communities

"These business owners are growth engines in their communities and creating jobs that have a huge impact on their neighbors at a time when most of their peers are laying off employees," said Horstman. "Interise applauds the courage and commitment these entrepreneurs have shown towards creating stronger businesses, and in turn, more vibrant communities."

Meeting at the intersection of street smarts and higher education, StreetWise Steps enables participating small businesses to engage in an intensive executive-level curriculum focused on developing a winning, expansion strategy for their business, including options for capital access and contracting. In return, the program arms entrepreneurs with the information, networks, guidance and resources they need to accelerate further growth. The focus is on relevant, real-world, applied learning. At every point in the program, the small business employer is able to take what they are learning and use it immediately. As they begin making changes to their business, they are also developing a comprehensive, strategic plan to support their company's long-term growth.

About Interise

Founded in 2004, Interise is one of the only non-profits specifically dedicated to building resiliency and capacity in lower income communities by accelerating the growth and success of established small businesses. Interise offers entrepreneurs an intensive and proven business acumen that combines management training, peer-to-peer learning, networking opportunities as well as access to capital and contracting, all designed as a catalyst for established small businesses to grow, prosper, create jobs and become leaders in their communities. Interise's award-winning curriculum, StreetWise Steps to Small Business Growth™, also known as StreetWise 'MBA'™, is offered nationwide and has enrolled more than 1,200 entrepreneurs since its inception, resulting in an average of 1.6 new jobs per business within one year of completing the program. For four consecutive years, Interise also has been named the national instructional provider for the U.S. Small Business Administration's (SBA) Emerging Leaders (e200) Initiative, a program focused on small companies in inner-cities across the country that have the potential for rapid expansion and job creation. Interise is headquartered in Boston, MA. www.interise.org

SOURCE Interise