We at the Newark Community Economic Development are committed to partnering with nonprofit groups and agencies to bring the most innovative programs and increase access to knowledge based resources and opportunities to Newark’s existing and aspiring entrepreneurs and business owners. For partnership opportunities with the Newark CEDC, give us a call at 973.273.1040.
Recent partnerships include:
The Newark Laundry Cooperative
The Laundry Cooperative initiative is working to create living-wage jobs in targeted low-income neighborhoods across the nation. Newark CEDC is partnering with the City of Newark’s Office of Reentry to recruit and engage Newark residents for an opportunity to partake in this groundbreaking program.
Institute for Entrepreneurial Leadership (IFEL)
IFEL played a key role in the launch of Newark CEDC’s first Community Storefront Program (CSP) in Newark’s South Ward commercial corridor, located at 790 Clinton Avenue. Through our partnership, CSP program participants received business training through IFEL’s 16-Week workshop. Newark CEDC and IFEL expect to expand their partnership in 2016 to provide business training for budding entrepreneurs in the Central Ward.
NCEDC’s partnership with IFEL expands beyond the Community Storefront Program the 8th Annual Next Level Conference. This annual conference attracts entrepreneurs and business owners from across the region to learn innovative techniques to reboot their business.
Rising Tide Community Capital
In 2016, Newark CEDC partnered with Rising Tide Community Capital to provide our North Ward Community Storefront program participants business training through their Community Business Academy.
Newark CEDC Business Service Providers Network
The Newark Business Service Providers network was launched in December 2015 to enhance, streamline and strengthen organizations and agencies in the greater Newark area. Through these efforts and program coordination, BSP network anticipates a stronger referral and resources for businesses and entrepreneurs.
NCEDC regularly partners with universities and organizations throughout the region on events and programs.
A major problem for aspiring/existing business owners and entrepreneurs face is lack of access to adequate formal business training and/or access to capital. Thanks to our partnerships and wide collaborative network, Newark CEDC partners with local organizations like IFEL, GNEC, Intersect Fund, Rising Tide and more to bridge the gap between entrepreneurs and business service providers.
Below is a sample of Newark-based resources and organizations we partner with to help strengthen the business ecosystem:
To receive assistance developing a business plan or receive training to run a business, contact: NJ SBDC (New Jersey Small Business Development Corporation at Rutgers-Newark, NJSBDC.com), IFEL (Institute for Entrepreneurial Leadership, ifelnj.org ), Rising Tide Capital (Risingtidecapital.org) or GNEC (Greater Newark Enterprises Corp. gnecorp.org).
To apply for a loan elsewhere, we recommend reaching out to SBA (Small Business Adminstration, 973-645-2434), the Profeta Urban Investment Foundation (profetafoundation.org), GNEC (Greater Newark Enterprises Corp., gnecorp.org), or the Intersect Fund (intersectfund.org).
To register to win a contract with Essex County and attend free seminars and training programs, contact: Essex County Office of Small Business Development and Affirmative Action (http://www.ecbizcenter.com/).
To sell your products or services to Federal, State or Local government agencies, please contact NJIT Procurement Technical Assistance Center: njit.edu/ptac.
NCEDC has several financial relationships to help support loan requests beyond $25,000 including:
United States Conference of Mayors and the Wells Fargo Foundation
In 2015, Mayor Ras J. Baraka and the Newark Community Economic Development Corporation was honored with the 2015 Outstanding Achievement CommunityWINS℠ (Working/Investing in Neighborhood Stabilization) Grant Award for large cities. The award is part of a nationwide CommunityWINS Program made possible by a grant from USCM and the Wells Fargo Foundation collaboration.
An award in the amount of $75,000 was presented to Newark CEDC for its Model Neighborhood Initiative work and Community Storefront Program (CSP.) CSP begins with a 16-week session led by the Newark CEDC where aspiring entrepreneurs participate in over 40 hours of business training and consulting with instructors from the Institute for Entrepreneurship Leadership (IFEL) with the end goal of launching a new business in a retail incubator. CSP reduces the barriers to entry that most solopreneurs and entrepreneurs face when starting a new business by placing graduates in a subsidized retail space. Phase I of the program focused on Newark's South Ward whose population of approximately 50,000 is about the same size as that of lower Manhattan.
The 2015 CommunityWINS℠ awards include monetary grants to city-based nonprofit organizations and recognize mayors for exemplary leadership in developing local programs that promote long-term economic prosperity and improve the quality of life for residents in three categories: neighborhood stabilization, economic development, and job creation. An independent panel of judges, selected by The U.S. Conference of Mayors, determined the six winning cities from a pool of 162 applicants in three population groups -- small, medium and large.