Entrepreneurship Center

The NCCU-CEDI Entrepreneurship Center (EC) offers a free program of three 6-week non-credit classes to aid in the development of viable business ventures.

_{Program Objectives}

• Develop, coach and mentor low and moderate resourced entrepreneurs in launching startup business ventures
• Modernize the business skills of local entrepreneurs and business owners to participate in the development and growth of the local economic community
• Prepare participants to research and contact financial resources, customer prospects and potential buyers
• Inform and educate participants about funding options by utilizing city, state and national resources

_{Program Offerings}

Three 6-week classes

Each participant in the EC program will complete the following 6-week classes:

1. Basic Business Skills: Participants create a business model and a pre-business plan.
2. Business Plan Development: Participants develop a formally structured business plan and are required to contact customer prospects. This class also includes the art of branding and creating marketing strategies.
3. Bankers Preparation: Participants prepare to present a business model and business plan to a panel of lenders.

Classes are free and available to all Durham residents.  Throughout the program, participants are offered individually scheduled consulting sessions and periodic assessments with mentors. 

Basic Business Skills

This is the mandatory initial class for all participants. It provides the latest in business technology and instruction. The class is highly interactive and requires full participation.

Participants create:

1. Business Model
2. Business Strategy
3. Competitive Strategy
4. Pre-Business Plan
5. Six month profit and loss financial projection using Microsoft Excel software

Business Plan Development

This class is offered to entrepreneurs who have completed the Basic Business Skills class and small business owners who desire to position their businesses favorably for bank or equity funding.

Course outline:

1. Formal structuring and review of  business model
2. Market analysis of industry and segment
3. Competitive analysis
4. Branding fundamentals and marketing techniques
5. Development of the 8 key business charts on a 3-year forecast
6. Who are your first 100 customers; can your business generate cash
7. Price and profitability analysis
8. Business legal organization and business structure
9. Financing: Who will lend to or invest in your business
10. Creation of the total business plan

A credit score of 620 (+) as determined by the Durham Regional Financial Center (DRFC) is a pre-requisite for this class.

EC-Money Smart 

Durham Regional Financial Center (DRFC) provides FDIC financial education and credit counseling services. The Money Smart class is for EC participants with credit scores below 620.  The class prepares participants for credit worthiness and is taught in parallel with the Business Plan Development class.

(Class scheduled as needed.)

Bankers Panel Preparation

The participants develop individual presentations to supplement the business plan and loan application. A panel of bankers and business professionals offer They practice and be coached to make their final presentations. They will receive individual feedback from each panel member moving forward.