ASCEND: Small Business Growth Program

Kellogg offers the management education portion of an approach to business growth that combines with access to markets and capital to enhance job creation/retention in low and moderate income (LMI) communities. A supportive ecosystem is developing that links business schools, market access organizations, Community Development Financial Institutions (CDFI), and Chase small business banking/advisors. Provide 4 day (or virtual 2 week 1/2 day) executive management program for POC-owned businesses in LMI areas to enhance potential for growth and increase employment. Post program resources include MBA students and Ascend alumni events to help prep for opportunities and build a peer network. (Kellogg) Kellogg/JHLA partnership helps businesses scale, retain and create jobs; stimulates innovative economic development; links the Kellogg School with diverse business and nonprofit communities; and expands the knowledge of future business leaders relative to addressing issues in LMI communities. Focus is first on minority-owned businesses, second on businesses that employ a high number of residents from LMI neighborhoods, and longer term on business relocation. Primary target areas include Austin, Englewood, Washington Park, West Garfield Park, Woodlawn, etc. Dashboard of key metrics is assessed or developed for each business owner's use. Company metrics improve in YOY key performance indicators (revenue, cost, profit margins, debt ratio, turnover, etc). One third of participating minority-owned/hiring companies receive or increase a contract from corporation within 15 months of the program. Ascend entrepreneurs form a strong, supportive peer network for sharing information and potential business opportunities.