Assets Toledo helping grow businesses
by Olivia Holden
OhioMBE – Oct. 15, 2014
ASSETS Toledo (A Service for Self Employment Training and Support) since our inception in 1999 has provided practical training, lending resources, technical assistance, and mentoring to entrepreneurs with low to mod income who are starting or attempting to maintain their business
ASSETS Toledo was founded in 1999, by The Mennonite Economic Development Associates (MEDA), an association of Christian business and professional people who seek to integrate biblical values and business principles in their daily lives, and to address the needs of disadvantaged through economic development in North America. ASSETS Toledo was founded with the collaboration of the Toledo Mennonite Church, and Friendship Baptist Church with the goal to assist persons to become self-empowered, and productive individuals.
Our classes are offered three times a year; January, May, and September on Tuesday and Thursday evenings from 7:00 to 9:00 PM. The curriculum covers everything from A to Z in how to start and run your business (Taxes, Marketing, Financial Projections, Marketing, etc.). The students are given the tools to start or reinforce their business, and graduate with a certificate, and their business plan.
To date over 1500 students have graduated from the ASSETS Toledo program, with 849 who have remained in business. This is a stimulus to the economy in Toledo, as those businesses have hired employees, who have spending power thus providing economic development in Toledo.
The Alumni association provides mentorship for those who want or need a mentor. The Alumni is a family that support each other’s business. If one business is having problems the alumni attempts to assist the business in any manner they can to help them remain in business.
For the last two years we have provided entrepreneurial training for incarcerated individuals. It is difficult for persons who are felons to get a job post incarceration, and one of the ways that can assist them is for them to start their own business. The classes have proven to be successful for 5 business that have started their own businesses after their release.
Through a partnership with Legal Aide we provide a Pro Bono Business Clinic for our students that allow them legal assistance they would not otherwise be able to afford.
We have a collaboration with a number of organizations who share our mission and vision to empower and assist with making individuals to be self-sufficient. We receive referrals from the City of Toledo, Lucas County, LMHA, various churches, organizations, and community organizations. We receive funding from some organizations that sponsor students.
We assist those individuals in becoming MBE, and EDGE certified through our collaboration with EMBAC, and the City of Toledo.
The biggest obstacle for my students is funding for their business. We work with our students who have bruised credit to repair their credit, which sometimes takes time. But is well worth the effort.
My hope and prayer is that the community would support and invest in small businesses, as this country was founded on small businesses. The Mom & Pop establishments provide more to the community, and are worthy of our investment in them. The people that run the small business’s live in Toledo, and therefore are aware of what is going on, hire local people and pay taxes.
Olivia Holden is the executive director of Assets Toledo. Contact Assets Toledo at 419-251-9870 or assetstoledo.com
