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ERIC Number: ED348087
Record Type: RIE
Publication Date: 1992-Jun-1
Pages: 36
Abstractor: N/A
Reference Count: 0
ISBN: N/A
ISSN: N/A
Follow-Up Survey of Participants in Preparing for Profit (PREP).
Informed Decision Services, Englewood, NJ.
Established as a pilot project in 1991, Preparing for Profit (PREP) was a four-session entrepreneurial training seminar offered by LaGuardia Community College/City University of New York, the New York Metropolitan Transportation Authority, and Coopers & Lybrand. PREP was designed to enhance opportunities for minority- and women-owned businesses to obtain certification by public agencies and, ultimately, to win contracts. In order to evaluate program outcomes, a survey was conducted of all 146 participants completing PREP in 1991. Highlighted findings, based on a 39% response rate, included the following: (1) over one-third of the respondents had been certified as a minority- or woman-owned business since taking part in PREP; (2) over one and a half times more respondents had received a government contract after PREP participation; (3) 65% of the respondents currently used brochures as a marketing strategy after the training versus 39% prior to participating in PREP; (4) almost 50% more reported using business slogans after the training; (5) 40% more prepared income statements, 34% more prepared financial statements, and 25% more prepared balance sheets after PREP participation; (6) 58% reported receiving additional benefits from PREP, such as networking (53%), receiving business from other participants (21%), purchasing products or services from participants (18%), participating in joint ventures with other participants (9%), or applying for contracts with other participants (7%); and (7) of those who had purchased equipment, 50% indicated that information provided in PREP helped them choose the right system. Appendixes include the survey questionnaire and comments from participants. (JSP)
Publication Type: Reports - Research; Tests/Questionnaires
Education Level: N/A
Audience: N/A
Language: English
Sponsor: La Guardia Community Coll., Long Island City, NY.
Authoring Institution: Informed Decision Services, Englewood, NJ.
Identifiers: Minority Owned Businesses; Preparing for Profit; Women Owned Businesses