New Generation Ventures

Stimulating small business start-ups by young entrepreneurs 

 

Update: We are accepting applications for summer 2014 and beyond.

New Generation Ventures helps launch young adults on a path toward business ownership in rural North Carolina. The program combines business coaching, training, networking and other opportunities.

 

Coaching and training are delivered by phone, email and online. In addition, classroom training and face-to-face business counseling are available through a network of partnering organizations, including the N.C. Small Business Center Network.

 

Ventures is part of the larger New Generation Initiative, a three-year effort to transform rural counties through youth and young adult engagement. Other programs of the initiative target career development, community training and the engagement of young leaders in community service.

 

Visit the New Generation Ventures Facebook page.

 

How to apply

  1. View the orientation video.
  2. Submit an online application. The application takes only a few minutes to complete.

 

Who is eligible

The program targets young adults who self-identify as unemployed or underemployed, but it is open to everyone — even those who have already started a business.

 

To be eligible, you must:

  • Be between 18 and 30 years old
  • Commit to starting a business in the next 12 months
  • Commit to locating your business in one of North Carolina’s 85 rural counties
  • Have access to a phone, a computer and the Internet

 

What the program offers

Business coaching with a counselor who will help you navigate the road to self-employment, providing advice and support at each step. The coach also will help you access resources in your area.

 

An assessment of your entrepreneurial readiness. Your counselor will help you gauge your aptitude for self-employment and review your personal budgets and credit history, leading to a financial road map and business plan.

 

Training scholarships for business-planning workshops and other relevant coursework. You’ll be invited to attend regular webinars and complete self-guided training programs.

 

Networking with other aspiring business owners and business-service professionals. New Generation Ventures will surround you with a supportive and lasting support network through social media, online discussions and face-to-face meetings.

 

Mentors to provide support along the way. Your coach will help match you with a experienced business mentor in your area.

 

Access to capital. As you move toward self-employment, your coach will help you identify business finance options. If you don’t qualify for a traditional loan, you may be interested in special New Generation Ventures  loans that are character-based and mentor-supported. Loan acceptance, however, is not guaranteed.

 

A job-search waiver for those receiving unemployment insurance benefits. If you were recently laid off, you may be eligible to continue receiving unemployment insurance benefits while starting your businesses.

 

Ongoing assistance beyond the ribbon cutting. Coaching is provided throughout the start-up process.


 

Contact

Barry Ryan, assistant director

Institute for Rural Entrepreneurship

N.C. Rural Economic Development Center

4021 Carya Drive

Raleigh, NC  27610

Telephone: (919) 250-4314

Fax: (919) 250-4325

 

 

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