Service Learning - A Vision for Rebuilding New Orleans Louis C. Mancuso, Ph.D. Professor of Marketing & Entrepreneurship

Before Katrina New Orleans was A Vibrant City 470,000 Population Tourism Industry Port of New Orleans Oil & Gas Industry

6:15 a.m., August 29, 2005, Hurricane Katrina Arrives in New Orleans

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80% of New Orleans was flooded .

Hurricane Katrina Path of Destruction The destruction footprint was the size of Great Britain

Hurricane Katrina’s House Devastation District Devastation New Aurora 100% Village de l’Est 100% New Orleans East 99% Lower Ninth Ward 93% Gentilly 85% Lakeview 83% Bywater 77% Mid-City 75% Algiers 66% Uptown 61% Venetian Isles 56% Garden District 50% Warehouse District 48% French Quarter 32%

New Orleans Area Population Katrina Statistics New Orleans Area Population Pre-Katrina 470,000 Post Katrina (2006) 191,139 Orleans Parish Population Change -60% Post Katrina (2010) 311,853 Orleans Parish Population Change -36%

New Orleans is Still a Broken City 40-Months After Hurricane Katrina Southern University at New Orleans is located on the Lakefront. Pre-Katrina – 4,000 students Post-Katrina – 2,000 students All buildings destroyed University still functions out of 48 double-wide trailers SUNO – 48 Double-Wide Trailers

Katrina Statistics Metro New Orleans Work Force Metro Area Pre-Katrina 633,759 Post Katrina 470,608 Change -25% Local Businesses Pre-Katrina 81,000 Post Katrina Currently Open 42,168 52% In Operation 20, 268 25% Closed or Uncertain 18,564 23% Restaurants Change -68% Public Schools – Orleans Parish – Change -81%

In need of 18,564 replacement small businesses

“THE SAINTS EFFECT”

A Vision for Rebuilding New Orleans

Mission Statement Helping the students of today develop a strong desire to open small businesses by developing a fast-track training program to accommodate the need for rapid training of our future leaders

Business Entrepreneurship major began Post-Katrina 200 Majors SUNO – Only HBCU College offering Business Entrepreneurship Major in Louisiana Business Entrepreneurship major began Post-Katrina 200 Majors Currently 550 Majors College of Business is AACSB Accredited Graduating class of 2010 will be first full class to major in Entrepreneurship

Entrepreneurship Objectives To be able to develop a business plan. Familiar with the concepts of primary and secondary research. To become familiar with product pricing concepts. To become familiar with the various legal aspects of small business. To become familiar with the various sources venture capital. Understanding the concepts of strategic planning. Understanding the basic concepts of marketing for small businesses To be able to do formal written and oral presentations. Understanding the concepts of ethical behavior. To be able to solve business problems using state-of-the-art business technology and acquired analytical skills. Understanding the importance of the global business environment.

Entrepreneurship Goals Students will be able to demonstrate and understand the basics of building a business plan. Students will acquire an understanding of conducting primary and secondary research. Students will acquire an understanding of pursuing new venture opportunities. Students will obtain a fundamental understanding of accounting, management, marketing, research, and financing concepts.

Obstacles Poor Education System Approximately 30% of the population is below the poverty level Lack of Venture Capital

Solution Sixteen Week Training Session offered to local entrepreneurs and college students on: How to write a business plan How to conduct primary and secondary research Human Resources Equipment purchasing Information technology Marketing of the product Profit & Loss Statement and Balance Sheet Successful elements of the venture capitalist Development of Small Business Institute at SUNO

Results Development of SBDMI institute at SUNO Many students are NOW Entrepreneurs Current participants are competing in Business Plan Competition across the United States Current Students WON The Morehouse College Innovation Business Plan Competition Won – the White House Invitational Entrepreneurship Forum Jani-King Franchise - #1 in the country

Housing Innovations, LLC Lack of business infrastructure Training of future entrepreneurs Entrepreneurs

“Priceless” Equation for Success + Training and resource programs 18,564 business that are now closed + Training and resource programs Initiation of Business Incubators “Priceless”

A Vision for Rebuilding New Orleans By: Louis C. Mancuso, Ph.D.