Federal Reserve Develops Training Tool to Assist Aspiring Entrepreneurs

The Federal Reserve Bank of Cleveland has developed a training program to assist aspiring entrepreneurs.

The program helps individuals gauge their readiness for business ownership, and highlights factors -- such as knowledge, dedication, and practical training -- that contribute to the long-term success of business ventures.

The training package includes a 12-minute videotape featuring three entrepreneurs who have overcome personal challenges and launched successful small businesses. The package also includes an easy-to-use instructor’s guide and a workbook for aspiring small business owners.

The package is designed primarily for use by organizations and individuals that provide technical and financial assistance to micro-entrepreneurs. It can be used to stimulate discussion, challenge assumptions, and provide motivation. It also serves as an excellent tool for educating bankers and other capital providers about microenterprise.

To purchase copies of the “I Love Being Self-employed” training package, contact Laura Kyzour at the Federal Reserve Bank of Cleveland at (216) 579-2846. The cost is $25 per package.

The training package was produced by the Community Affairs Office of the Federal Reserve Bank of Cleveland. Community Affairs facilitates the development of partnerships between financial institutions, community-based organizations, and government entities. The Office participates in efforts to expand the opportunities for people to own property, start small businesses, and strengthen their neighborhoods. It also serves as a catalyst for local initiatives seeking to remove inefficiencies and inequities from credit and housing markets. | (http://www.clev.frb.org/CommAffairs/videocfm).

See also http://www.clevelandfed.org/ccca/Pressrel.cfm

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, supervises certain banks and all bank holding companies, and provides payment services to depository institutions and the U.S. government. Payment services include check clearing, electronic payments, and the distribution and processing of currency and coin.

The Federal Reserve Bank of Cleveland, including its branch offices in Cincinnati and Pittsburgh, serves the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.