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FOR IMMEDIATE RELEASE
Saturday, October 16, 2010


Kauffman FastTrac®, Education Program for Small Businesses, Hosts Fall Business Expo

The New York City Department of Small Business Services (SBS) in partnership with the Kauffman Foundation and the Levin Institute provide FastTrac courses to New Yorkers at no cost


MANHATTAN - Today, New York City business owners who are participating in the Kauffman FastTrac program presented their products and services as part of the FastTrac NYC Fall Business Expo. The expo, held at the Levin Institute, celebrated the success of the FastTrac program's first year and provided an opportunity for participants to network with each other, learn about local businesses involved in the program and meet local community leaders and investors.

Kauffman FastTrac provides intensive entrepreneurial education courses that help entrepreneurs hone the skills needed to start, operate and expand a successful business. NYC Business Solutions, a service of the New York City Department of Small Business Services, partnered with the Kauffman Foundation and the Levin Institute in March 2009 to provide FastTrac courses to New Yorkers at no cost. FastTrac offers two tracks: FastTrac® NewVentureTM, which caters to those looking to start a business and FastTrac® GrowthVentureTM, which caters to business owners looking to expand their operation.

In its first year of operation, almost 900 entrepreneurs and business owners graduated from the program, with over 95 percent of participants reporting that they were satisfied with the program and would recommend it to others.

225 FastTrac NewVenture participants reported launching their business within a year of completing the program, and 115 FastTrac GrowthVenture participants reported an increase in revenue within a year of completing the program.

“Providing the FastTrac program, through our partnership with the Kauffman Foundation, has proved immensely helpful to New Yorkers looking to either start or expand their business,” said Robert Walsh, Commissioner of the Department of Small Business Services. “Especially during these challenging economic times, programs like FastTrac equip New Yorkers with the knowledge and tools they can use to build successful and growing businesses, which serve as the backbone of our economy. This program has proven results, and we look forward to seeing its continued success.”

“At Kauffman FastTrac, we have been proud to work closely with the Department of Small Business Services and the Levin Institute, which have been excellent partners in helping us to bring high-quality entrepreneurial training to New Yorkers,” said Alana Muller, president, Kauffman FastTrac. “Both organizations have done an effective job of coaching entrepreneurs through the use of the FastTrac courses to start, operate and expand their businesses.”

To find out more information on FastTrac, visit http://www.nyc.gov/html/sbs/nycbiz/html/business_courses/fasttrac.shtml

About Kauffman FastTrac NewVenture and GrowthVenture The FastTrac NewVenture program is designed to help entrepreneurs determine the viability of their business concepts and assist in outlining the critical steps to a successful business launch. The FastTrac GrowthVenture program is designed to provide business owners the tools and support to carefully review and evaluate important aspects of their business, explore next stage growth and opportunity, and reshape their existing business for future profitability and improved business performance. FastTrac was developed by the Ewing Marion Kauffman Foundation. The Kauffman Foundation is devoted to advancing entrepreneurship as one of the fundamental aspects of life in the United States. Focusing on research, education, technical assistance, and policy, the Kauffman Foundation works to increase the number and success rate of individuals engaged in the process of starting or growing their own business or idea.

About the Department of Small Business ServicesThe Department of Small Business Services (SBS) makes it easier for businesses in New York City to start, operate and expand by providing direct assistance to business owners, fostering neighborhood development in commercial districts, and linking employers to a skilled and qualified workforce. For more information on all of SBS' services, go to www.nyc.gov/sbs.


 



 





Contact:
Sarah Krauss (Small Business Services) (212) 513-6318
 

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