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Commitment to Opportunity for Residents

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Presentation on theme: "Commitment to Opportunity for Residents"— Presentation transcript:

1 Commitment to Opportunity for Residents
NYCHA, through its Office of Resident Economic Empowerment & Sustainability’s (REES), measurably supports residents to increase their income and assets through programs, policies and collaborations in four key areas: Employment and Advancement Adult Education and Training Financial Literacy and Asset Building Resident Business Development

2 Resident Business Development (RBD) Mission
To measurably support residents’ increased income and assets through Entrepreneurship NYCHA

3 In Resident’s Own Words…
During focus groups, NYCHApreneurs* expressed common challenges to achieving their entrepreneurial dreams. These needs were verified with a survey of known NYCHApreneurs. DREAMS We care for children We do hair We sell food We fix computers We buy & sell We translate We do makeup We design clothes We build We serve the community WE DO BUSINESS! NEEDS Business Training & Certifications Access to capital Space *NYCHA entrepreneurs

4 NYCHApreneur Needs Are Verified
Echoing the focus group results, NYCHApreneur needs can be summed up as a need for Education, Space, and Capital. *When presented with the choices, NYCHApreneurs were able to select all that apply.

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6 NYCHA Food Business Pathways (FBP) Program Overview
FREE comprehensive and competitive program that works directly with NYCHA entrepreneurs in launching their food business FBP is designed and operated by a partnership with NYC Housing Authority (NYCHA), NYC Small Business Services (SBS), NYC Economic Development Corporation (EDC),Hot Bread Kitchen, Start Small Think Big, and Citi Community Development 10-week program and topics include: Exploring Entrepreneurship – discovering your vision and developing a business concept Operations – How owning a food business is different than being a cook Capacity – Starting small and building up Licensing – What you need to know to own a food business in New York City Participants receive (1) free business incorporation, (2) food handler’s license, (3) access to commerical kitchen incubator space, and (4) business coaching

7 Food Business Pathways (FBP) Program Year 1 (2015) and Year 2 (2016)
139 Total Food Business Program Graduates (79.4% graduation rate) Cohorts 1 to 5 568 490 388 263 175 Attended Info Session Submitted Application Selected for Interview Interviewed Enrolled 88 New Official Businesses Registered 100% African-American and/or Latino Female – 90% Male - 10%

8 Food Business Pathways is Built on 3 Key Innovations
1 A focus on “incubator-readiness,” by providing a qualified pipeline of NYCHA businesses for service providers 2 Strengthening the connection between NYCHA businesses and NYC’s economy through streamlined links to industry-specific resources and customized curriculum 3 Bringing key stakeholders together to “evaluate what works” and systematize assistance to NYCHApreneurs

9 Success Story Joann Poe – Food Business Graduate & Owner of NYC’s Best Dressed Cupcakes “Working with my business coach, it really sunk in that I can go out and get clients. I came to the realization that this is really happening. I never tried to get sales, and waited for people to come to me. Now in order for my food business to thrive, I have to go out there and sell. Once I started cooking in a commercial kitchen, I kept getting more orders.”


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