Black Business Training Institute
Overview of the Institute
For more than 50 years, IBE has been helping businesses with business management training, procurement opportunities and networking to enhance their capacity and growth. In partnership with KeyBank, Innopower and others, IBE will offer a robust 10-week business management program, free of charge, to two cohorts of 25 business owners in Indianapolis. The first cohort will take place in April and the second cohort will begin in October. The training sessions will focus on practical business skills that can immediately be applied by small Black business owners.
A $5,000 award will be provided to the top business owner/business in each cohort that excels in the program and receives perfect attendance. IBE and its partners will help wrap-around services and technical supports for the businesses. In partnership with the Central Indiana Small Business Development Center, each participant will receive technical support and business advice throughout the program. Other strategic supports to which IBE will dedicate resources to maximize success for participating business owners include:
- Support eligible cohort participants in seeking eligible procurement opportunities with corporations and local and state government;
- Connect eligible cohort participants with banks, social impact investors and foundations to establish relationships and seek out opportunities to access capital; and
- Partner with eligible cohort participants to enter into pitch opportunities.
The purpose of this work is to strengthen Black-owned businesses, which in turn, will increase generational wealth in the Black community and a strengthened economy overall.
Applications are available now CLOSED
The first cohort is limited to business owners of professional services firms/corporations only. IBE will take a second cohort of business owners in the fall. The second cohort will NOT be limited to the professional services businesses
The goals of the program are (1) to ensure that participating business owners have sufficient knowledge, opportunities and relationships to sustain and grow their business; (2) to upskill entrepreneurs and provide supports that ultimately help increase their revenues; and (3) to develop community wealth to help close the racial wealth gap.
The 10-week cohort session will consist of the following topics:
Clinic 1: Program Overview
Clinic 2: Business Development and Planning
Clinic 3: Financial Management – Part 1
Clinic 4: Financial Management – Part 2
Clinic 5: Operational Management
Clinic 6: Marketing and Branding
Clinic 7: Technology
Clinic 8: Procurement – Doing Business with the Public and Private Sector
Clinic 9: Access to Capital – Part 1
Clinic 10: Access to Capital – Part 2
The following is a list of criteria, not exhaustive and eligibility requirements:
- You must own a Black-owned business.
- Only the business owner is eligible to participate.
- If a business owner operates more than one business, only one application for a single business will be accepted.
- The business name on the application must match the records with the state, county and city. Your business must be in good standing with the state, county and city.
- The business must have a Certificate of Good Standing.
- The business must have a business address in Central Indiana.
- Agree to share financials and other essential information.
What businesses are NOT eligible to apply?
- Businesses that are franchises and chains.
- Liquor stores, cannabis, etc. (per SBA guidelines).
- Independent contractors operating multilevel or network marketing businesses (such as Avon, Mary Kay, 5LINX, Pampered Chef, etc.).
- Independent contractors working on gig platforms such as Airbnb, Fiverr, Uber, Lyft, Instacart, etc.
Is the information and data within my application held private?
- Yes. Individual applicant information and data will not be shared beyond the purposes of review during the selection process. Applicant data will not be sold. Aggregated applicant data may be reported for evaluation and knowledge-sharing purposes.