Entreprenuer
25 Jan 2023
Transformational BETA Program aims to Create a Pipeline to Business Ownership
Connecting aspiring entrepreneurs with business owners looking to transition away from ownership with ease and support is the crux of a transformational new program bETA.
bETA is designed to provide the knowledge, tools, and access to capital that entrepreneurs need to acquire and run an already successful small business. Its mission is to tackle persistent wealth gaps. bETA exclusively supports self-funded searchers.
Leveling the playing field for entrepreneurs
“The (BETA) training will level the playing field for aspiring entrepreneurs so they can be as compelling to a business owner selling their business as an Ivy League-educated MBA grad,” said Havell Rodrigues, founding board member, New Majority Capital Foundation.
Entrepreneurship Through Acquisition is the process of acquiring and growing an already established business. This program is timely, as Rhode Island ranks third highest in average business owner age and close to 60% of businesses owners in the state will look to transition their business in the next two decades.
NMCF has partnered with the Initiative for Competitive Inner City (ICIC) and Babson College to develop and deliver BETA’s innovative curriculum that supports entrepreneurs to help them become aware of the “entrepreneurship through acquisition” opportunity and give them the skills training they need to become a successful new small business owner.
John A. Tarantino, managing trustee of the Papitto Opportunity Connection, said, “POC is thrilled to support the BETA program, which fills a significant gap in the market to increase small businesses in Rhode Island. By providing access, exposure, and the necessary tools for would-be entrepreneurs to own and operate a successful business, we are changing the landscape of business ownership across the state.”
BETA offers an end-to-end approach, which includes a unique, robust curriculum; skills training; technical resources; and hands-on support through transition. Upon completion of the course work, the participants will have a tool kit and skill set that will provide them with the knowledge and confidence to navigate the next steps of acquiring a small business.