Encinitas, CA, January 2020 – As of last year, ONLY 20% of small business owners in San Diego were minorities*, yet many diversely-led startups face inadequate access to business resources. That’s why MentorBoost facilitated a workshop at CONNECT ALL @ the Jacobs Center, San Diego’s first accelerator program designed for low to moderate income founders, to help the current accelerator cohort learn about personal finance and aid the small business community that San Diego depends on.
CONNECT ALL @ The Jacobs Center (CAJC) was founded to support low to moderate income founders as a way to access free resources that foster the entrepreneurial mindset and support the community. They provide business owners with a co-working space, mentors, workshops, and an accelerator program they can apply for to really hone in on their business skills. Working with their current 13 person accelerator cohort, MentorBoost provided personal and entrepreneurial financial knowledge as well as introducing online financial services to track and fully comprehend how to finance their business.
MentorBoost’s founder, Chris Holbrook, took part in the accelerator’s lesson on personal finance.
“I love teaching Personal Finance for Entrepreneurs. It’s one of those workshops that I KNOW, regardless of what path these founders ultimately pick, will dramatically improve their lives.”
He covered the entire gamut of personal finance from the role of savings, the uses of debt and investments, to credit score and how important those are to not just the individual but their startup. He introduced the personal finance tool he recommends which is Mint.com and covered everything from setup, transactions, reporting and taxation. He finished the workshop with a discussion on perhaps the most powerful aspect of personal finance which is planning the future with goals and budgets.
“I think that young entrepreneurs don’t understand the linkage between their personal finances and their businesses. And, that poor personal finance hygiene can dramatically and negatively affect their good business.”
By working together, MentorBoost and CAJC are advocating for these minority businessmen and women and providing access to the tools needed to diminish the disparity faced in entrepreneurship. To hear more about what CAJC is doing with the city of San Diego, check out Connect All San Diego. If interested in seeing what else MentorBoost can provide, check out the course catalogue at MentorBoost Course Catalog.
ABOUT CONNECT ALL @ JACOBS CENTER
CAJC is San Diego’s first business accelerator program designed specifically for low to moderate income (LMI) founders to support the small business community through access to free resources that foster the entrepreneurial mindset. Their Business Resource Center and accelerator program provides mentoring, workspace, seminars, workshops, training and networking opportunities for each cohort member. CAJC focuses on rapid growth companies and new jobs creation to support communities in San Diego.
MentorBoost was born from the lack of a step by step practical real world education resource that guides students through the entrepreneurial journey. We lead with our e-Learning classes that cover all the critical bases. We supplement that framework with additional education resources from book reviews, articles and videos. *Link to SDBJ article about small business https://www.sdbj.com/news/2019/jan/27/new-study-shows-small-businesses-have-big-footprin/