Chamber launches program to strengthen minority entrepreneurs

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Charleston Metro Chamber is launching the Lowcountry Minority Business Accelerator, a program that provides economic growth opportunities for high-potential, minority-owned firms.

The program will strengthen the region’s minority entrepreneurial community and advance the Charleston region, the Chamber said in a news release.

Funded with a seed grant by Bank of America, the Lowcountry MBA is hosted in partnership with the South Carolina Minority Business Accelerator, a statewide initiative formed by the Greenville Chamber, Charleston Metro Chamber and Columbia Chamber.

“Our hope for these entrepreneurs is that they will learn invaluable information about growing their businesses, feel empowered to make a larger impact and continue to play an integral role in our region's business environment,” said Richard Waring, vice president of diversity, equity and inclusion at the Charleston Metro Chamber.

The 12-month program uses the Streetwide MBA curriculum created by Interise. With the curriculum, business owners develop a customized three-year Strategic Growth Action Plan. Business owners will work one-on-one with a mentor and will learn the basics in strategic planning, accessing capital, human resources, financial management and analysis, business development strategies and securing corporate and government contracts.

The first LMBA class will be led by instructor, Wendell Jones, a financial industry professional with management development training.

“As the instructor for the MBA program, I’m excited and honored to do my part in the uplift of all communities within the Lowcountry,” Jones said in a statement. “As we continue to empower small business owners within disadvantaged groups, they, in turn, will provide solutions for the various economic disparities facing our region.”

The program costs $1,000 per participant, and includes all course materials. Participants also will be paired with two mentors for the year, have access to regional business leaders and potential clients, and be recognized as a $3,000 Leadership Circle Chamber Member.

Inaugural class of Lowcountry MBA

The inaugural class of Lowcountry MBA includes participants from a variety of industries, including property management, logistics IT services, real estate, food and beverage, media, marketing and more.