Emerging 200 Initiative graduates 16 Dallas businesses

11/11/2011

The Small Business Administration's Emerging 200 Initiative aims to identify 200 inner-city businesses nationwide with high growth potential, according to the SBA's website.

The SBA provides each company with resources and motivation to expand, as well as 100 hours of classes to be taken over a nine-month period. Experienced mentors and workshops to develop peer connections are also at business owners' disposal, notes the Dallas Business Journal.

SBA administrator Karen Mills was on-hand this week for the graduation of 16 Dallas, Texas-based companies that graduated from the Initiative.

"What we're seeing is small businesses are getting that next order," Mills said, as quoted by the news source. "Things are a little better … When (small businesses) do have the confidence, we want to give them the tools to take the next step."

Approximately 80 percent of companies in Dallas are classified as small businesses. These firms employ approximately 40 percent of the city's workforce.

The city received more than $880 million in SBA loans during fiscal year 2011, a record high total.