July 9, 2018 – Concerns about small business access to capital are a significant reality for new entrepreneurs. According to the Congressional Research Service reports, small businesses are behind the curve accessing the capital investment needed to start or expand their operations that lead to job creation and improved economies in the local regions. Federal funding through USDA’s National Institute of Food and Agriculture (NIFA) has been allocated to assist entrepreneurs meeting specific qualifications and focused on rural Texas communities, particularly low and moderate income, underserved communities, and veterans starting a small business. With NIFA’s support, Prairie View A&M University’s Cooperative Extension Program (CEP) agents working in partnership with Texas A&M AgriLife have created a pilot program called YEP4Success to address this issue by providing educational workshops that prepare entrepreneurs in their youth to overcome future challenges of financing, creditworthiness, and access to capital that will expand and create jobs.

Nate Peterson, CEP Community and Economic Development County Extension Agent joined efforts with AgriLife Agent Fralonda Aubrey to launch YEP4Success as a part of the Sustainable Communities Project 2018 Leadership Camp at Forest Glen Camp, TX. The campers had the opportunity to get involved in entrepreneurship programs that introduced them to real-life learning experiences that strengthened their existing skill sets, adeptly guiding them through the process of safely taking risks, making business decisions and setting goals. The most important part of the learning experience was exposure to establishing a set of goals and working toward accomplishing them while developing the youth-operated businesses. The YEP4Success program includes classroom instruction with a comprehensive presentation, hands-on activities, and group business plan competitions. Youth were challenged to think about all the components of starting a business, and their knowledge was tested to see if they had what it takes to be a successful entrepreneur.

 

 

 

 

 

 

During the presentation, Peterson and Aubrey combined their expertise in business development teaming up to field questions from the ambitious entrepreneurs who were fully engaged in the experience. The information and resources provided to participants about starting a business and the various components on entrepreneurship included:

  • What is an Entrepreneur?
  • What it Takes to be a Successful Entrepreneur
  • Advantages and Disadvantages of Entrepreneurship
  • Teen Business Opportunities
  • Careers for Entrepreneurs
  • Group Projects and Presentations

After the presentation, participants were assembled into groups to create an agriculture related business plan for a product, service or e-commerce based business. After brainstorming and teamwork, groups competed in a 10-minute presentation of their business idea/concept — including the name of the company, description of business’ products & services, management team and pricing.  

What made the YEP4Success program a success is that it expanded the previous camp sessions related to agriculture. The young people who attended are now better prepared and ready to pursue their entrepreneurial endeavors because they understand and are experienced with brainstorming business ideas and writing the type of business plans financial institutions want to see as viable investments. Entrepreneurs require unique skills to make market-driven decisions, and CEP’s Community and Economic Development agents in the county are working to hone those talents in the community that will ultimately lead to job growth and stronger local economies in the state of Texas and beyond.

View Yep4Success on YouTube

 

 

 

 

 

 

 

 

 

 

This work was supported by the USDA National Institute of Food and Agriculture 1890 Extension Formula Program project under Section 1444.

Natriez Peterson

 

Natriez Peterson
CED Harris County Extension Agent
 
nbpeterson@pvamu.edu
(713) 274-0988