Rhode Island Urban Business Incubator Inc

RI BUSINESS INCUBATOR PROVIDED MICRO-BUSINESSES WITH TECHNICAL ASSISTANCE AND MENTORSHIP. ADVOCACY, AND INFORMATION TO HELP THEM START UP AND OR GROW.BUSINESSES SERVED ARE PREDOMINANTLY LOCATED IN URBAN AND LOW-INCOME COMMUNITIES AND ARE BOTH MINORITY AND NON-MINORITY-OWNED.THE DEMOGRAPHICS OF THE CLIENTS THAT WE HAVE ASSISTED DURING THIS PERIOD ARE AS FOLLOWS:22.2% HISPANIC; 44.4% AFRICAN; 13.3%. AFRICAN AMERICAN; 8.9% CAPE VERDEAN; 4.4% NATIVE AMERICAN; 4.4% CARIBBEAN (NOT HISPANIC); AND 2.2% CAUCASIAN.62% OF OUR CLIENTS WERE WOMEN AND 38% MALE.DURING THIS PERIOD, 36.1% OF THE VENTURES WE HAVE BEEN WORKING WITH ARE IN THE IDEA ( DEVELOPMENT ) STAGE, 22.2% ARE IN THE LAUNCH STAGE. 38.9% ARE IN THE PROFITABILITY STAGE, WHERE WE ARE WORKING WITH THEM ON GENERATING INCREASED REVENUES AND ATTAINING & MAINTAINING SUSTAINABLE PROFIT LEVELS. IN ADDITION, 2.8% OF THE VENTURES WE ARE CONTINUING TO ASSIST ARE IN THE GROWTH STAGE, EXPANDING THE SERVICES OFFERED AND HIRING ADDITIONAL STAFF.33 OUT OF THE 36 VENTURES WE WORKED WITH THIS YEAR ARE MICRO-BUSINESS, HAVING FEWER THAN 10 PERSONS IN THE BUSINESS, WITH THREE BUSINESSES SIGNIFICANTLY SURPASSING THAT MARK WITH CONTINUED GROWTH IN EMPLOYEES.66.7% HAVE BEEN STARTUPS AND 33.3% EXISTING MICRO-BUSINESSES REPRESENTING A WIDE-RANGE OF INDUSTRIES WHICH INCLUDED:HOME HEALTH CARE SERVICES, NON-MEDICAL TRANSPORTATION, BEHAVIORAL HEALTH & DISABILITY, PUBLIC RELATIONS, INDEPENDENT ARTIST, WOODWORKING, FOOD MANUFACTURING, MOBILE FOOD SERVICES, FARMING, FASHION DESIGN, PEST CONTROL, MARKETING SERVICES, RESIDENTIAL/COMMERCIAL CLEANING, AND CONSTRUCTION.WE HAVE CREATED AN ENVIRONMENT IN WHICH THE ENTREPRENEURS WE ARE WORKING WITH WHO ALREADY POSSESS TALENTS THAT OTHER ENTREPRENEURS NEED HELP WITH ARE CONNECTED AND OFFER THEIR ASSISTANCE. THE SUCCESSES ARE POSITIVELY IMPACTING NOT ONLY THE ENTREPRENEURS WE ARE WORKING WITH BUT OUR RHODE ISLAND ECONOMY AS WELL, CREATING GOOD-PAYING JOBS WITHIN THESE COMMUNITIES.