CLEVELAND — Starting a small business is one thing. Staying in business is another.
LaRese Purnell, Tri-C Entrepreneur-in-Residence, kicked off the four-part Workshop Series: Master Classes for Small-Business Owners on Monday at Tri-C Corporate College East.
"When we see all these businesses in our community closing what we want to do is equip them with tools to help them have a fighting chance to be successful,” Purnell said.
The free lessons include business structure and law, accounting and taxes, access to capital and business investing and insurance.
Purnell said everyone will walk away learning something, particularly encouraging African Americans and other persons of color to attend, citing that many are first-generation business owners who don’t always know where to go for resources.
The latest data from the Pew Research Center states only about 3% of U.S. businesses were Black or African-American-owned.
“Two areas I really say if we want to create generational wealth…help families and create legacies, that's entrepreneurship, owning your own business, as well as homeownership,” Purnell said.
Purnell said strong small businesses help individuals, their families and surrounding communities.
“When we're rebuilding and trying to have strong communities it’s your small business owners…they're the ones that are volunteering and going into the classrooms and mentoring young kids,” Purnell said. “They're the ones that are keeping their neighborhoods…the blocks where their businesses are clean.”
Miesha Wilson owns NuLife Fitness Camp and Juicy Vegan in the Waterloo Arts District in Cleveland’s North Collinwood Neighborhood. She opened the gym 18 years ago this March. Juicy Vegan opened two years ago.
“It’s been a daily grind,” Wilson said. I’m at a place now in life where I'm always looking for opportunities to step away (and) actually put in work on the business — growing it."
She said there’s always something new to learn as a small business owner, and staying on top of everything is essential.
“Contracts, planning, (and) financial forecasting…there's so many different elements to business,” Wilson said. “A lot of times you just have a passion for the product or service, but you're not really thinking about how to make sure that you're running your business in an orderly fashion."
Wilson said she’s looking forward to hearing from experts and connecting with other small business owners.
“You’re going to walk away from (the workshop) knowing more than walking in with in some way, shape or form,” Wilson said.
She recently purchased the building where her gym and food counter resides. Soon, she plans to relocate Juicy Vegan to space next door, where it can be a full carry-out restaurant.
Robert Craig and his wife and son own The Sweet Fix Bakery in Cleveland Heights. They also own another bakery, The Sweet Place, in Cincinnati.
He said owning a business brings challenges.
“It’s been hard, but we've sustained through the pandemic, and we've been here seven years,” Craig said.
But, he’s relied on mentors and community programs to learn and grow.
“That's your help right there,” Craig said.
For more information on the Workshop Series: Master Classes for Small-Business Owners, contact Char Prince at 216-800-9021.
