Louisiana Economic Development has launched a Diversity in Entrepreneurship Initiative to accelerate growth in second-stage minority- and women-owned businesses.
LED’s small business services team is working in partnership with the Michigan-based Edward Lowe Foundation to design and facilitate the initiative, according to an LED annoucnement. The program began Sept. 21 with an inaugural class of 10 second-stage businesses, which are generally defined as having 10 to 99 employees and are poised for future growth by establishing sales in out-of-state markets.
All 10 of the participating companies are minority-owned and seven are owned by women. The initiative will focus on strategies beneficial to second-stage businesses including building a management team, sustaining growth and identifying new opportunities.
The program features retreat-style virtual meetings and monthly roundtables. LED and the Edward Lowe Foundation hope to expand the initiative to more companies in future years.
Businesses in the inaugural Diversity in Entrepreneurship Initiative cohort are:
- A & E Enterprise Management—Edgard
- David Orsot Plumbing & Heating—Lake Charles
- Global Management Enterprise—Lake Charles
- ILSI Engineering—New Orleans
- In Loving Arms Pediatric Day Health Center—Baton Rouge
- International Consulting Group—Baton Rouge
- Nick’s Janitorial Services—Shreveport
- Seedlinks Behavior Management—Shreveport
- Turner & Turner Contracting—Alexandria