Tarrant County College’s (TCC) Office of Corporate Solutions & Economic Development has selected five small businesses for the second cohort of the Everyday Entrepreneur Venture Fund (EEVF). The businesses were selected from a field of 32 applicants, an increase of over 18% from the previous cohort.
According to financial information website Fortunly, over 20% of small businesses fail in their first year and almost 30% don’t make it due to running out of money. Additionally, a Forbes article citing research from technology company Kabbage shows that mentors were key to small business success. EEVF offers small business owners in Tarrant County the opportunity for seed funding, customized education and access to mentors.
“Starting a new business is like planting a new flower. You need the right soil, the perfect light, the appropriate fertilizer and just the perfect amount of water. If not all of these items come together, the flower either struggles to survive or simply withers away and dies. A new business operates no differently. Hence, the importance of the EEVF program. TCC wants to ensure the entrepreneurs participating in this program not only survive, but thrive,” said Shannon Bryant, TCC’s Executive Vice President for Corporate Solutions & Economic Development.
“Small businesses are the lifeblood of our ecosystem. We look forward to working closely and intently with the second cohort. We had great results with cohort one last year. Four of the nine businesses became profitable within the first twelve months. TCC is proud to support our local business owners and want to see each of them succeed. We are a better community and a more fruitful ecosystem when we work together through education and development of our entrepreneurs.”
Businesses chosen for the second EEVF cohort are:
Scheduled trash can cleaning service, using a water recycling system and 100% biodegradable solutions to disinfect and deodorize receptacles.
JMED Consulting Services, LLC
Offers bilingual services such as tax preparation, business and immigration guidance, passport application assistance and translation.
The Modern Celebration
Wedding planning and design company that provides services to a diverse group of clients in the areas of full-service planning, partial planning and day-of coordination.
Nitro Mobile Detailing
Mobile automobile detailer that offers multiple interior and exterior cleaning services and subscription packages.
Watch Me EXCEL
Leadership development coaching and consulting, specializing in leadership assessments, executive coaching and new leader onboarding and integration for emerging and senior executives.
In addition to seed funding, the business owners will also receive customized education to enhance their knowledge on how to successfully operate their business. They will also benefit from mentorship, which includes one on one communication at least twice per month with a dedicated mentor who is a former or current small business owner. The education and mentorship are conducted through Tarrant County College and take place over a 12-month period.
“The education component of the EEVF program is intended to help funding recipients enhance their entrepreneurship and small business management competencies,” said Lourdes Ramboa, Chair of the Business & Entrepreneurship Program at TCC and administrator of TCC’s EEVF program.
“We have each entrepreneur complete an initial assessment, which helps us best diagnose their specific, individual educational needs. Once this diagnosis is complete, we then develop a customized learning program, which may include business plan development, marketing, social media marketing, finance management, etc. From the education perspective, our goal is to provide each entrepreneur with the knowledge they need to get their business to the next level.”
The application process for the third cohort is scheduled to open in October and will be open to small businesses located in Tarrant County. For more information, visit https://corporate.tccd.edu/everyday-entrepreneur-venture-fund/