In the planning stages for over a year BizFIT is described to be designed in a three-tier structure with combined training, strategies, connections and expertise to enable contracting and construction entrepreneurs to grow sustainable enterprises focusing on their top capabilities.
Tier three; Establishing a Winning Business Plan is geared toward start-ups and recently established businesses. Instruction will entail creating and updating a business plan and all the basics in business. Topics will include budgeting, understanding credit repair, developing an organizational structure and legal concerns.
Tier two; Road Map to Success is structured for businesses that have completed some projects, but need polishing in their soft skills, such as leadership and redefining of their business. Subjects will include understanding solicitation, common contract clauses, how to bid on contracts using online software, completing OSHA forms, field operations and safety, proper insurances, labor and payroll, determining payment schedules, understanding financial statements, using technology to move the business forward, and utilizing green and new innovative building materials.
Tier one; Power to Prosper-Managing Long Term Growth will focus on the establishment, growth and long-term success of the business. Critical preparations in becoming sustainable and hiring local individuals for newly created jobs will be a concentration. The focus will include identifying goals for strategic growth, fine tuning the business vision, analyzing and evaluating key financial statements, third party perspective on financials, taking advantage of target markets, effective sales strategies and financing for new capital and government markets.
Aiming to leave no stones unturned with the program, Garrett explained that in addition to the entrepreneurial training, BizFIT will institute the Surety and Fidelity Association of America’s bond educational training utilizing their Model Contractor Development Program. “The six-week training will focus on increasing the contractor’s capacity to enhance growth, improve development and stabilize resources. Our hope is that the training will position the DBE to explore expanded contracting opportunities and strengthen their bonding ability.”
When questioned as to why such an intense program is needed now when the region has been undergoing growth and development for numerous years, Garrett explained that there is a need for more trained and qualified DBEs.
“The BizFIT Program will prepare its participants to be better equipped to compete and have the opportunity to participate in current and future developments. Having local DBE contractors, subcontractors and service construction industry firms prepared for the growth and expansion can result in employment for underserved communities, with a goal of eliminating poverty within those communities.”
Other necessary components of the Program to assure a seamless way to grow the DBE along with the economy in underserved communities according to Garrett will include a mentoring program, an opportunity/solicitation portal, back and front office support, unionization, and access to capital.
An organization that believes that nothing is accomplished without strong partnerships, the BizFIT Program a combined idea of Keith B. Key of KBK Enterprises is a collaboration between RCI, the Diversity Business Resource Center, Southwestern PA Veterans Chamber of Commerce, the National Association of Diverse Contractors, C&R Constructors, CM Solutions, Surety and Fidelity Association of America, 84 Lumber, Mascaro Construction Company, PJ Dick, and the University of Pittsburgh Institute for Entrepreneurial.
A nonprofit organization, RCI provides low-cost leasing and a wide variety of services inclusive of consulting, office support, technology training programs, aid in commercial real estate transactions and business plan preparation. Throughout its 24-year history RCI has reported that it generated over half a billion dollars in economic impact and supported more than 3,500 jobs.
(To register for the BizFIT Program, Garrett suggests registering by Internet at riversidecenterforinnovation,com/bizfit or calling 412- 322-3523 by Thursday, Sept. 15.)
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