Apply

Prudential Financial Helps Hartford Area's Small Businesses through Support of Entrepreneurial Center & Women's Business Center

May 28, 2020
Submitted By: Shelli McMillen Soto

Small businesses are vital to the economy and they are getting hit hard by these turbulent times. Thanks to continued support from Prudential Financial, the University of Hartford’s Entrepreneurial Center & Women’s Business Center is providing resources to help local small businesses survive and rebuild.

Through its Small Business Technical Assistance Program (SBTAP), the Center offers business advising and targeted technical assistance to eligible small businesses in the Greater Hartford area. In tough times like these, assistance for small business is becoming more vital than ever. “Women- and minority-owned small businesses are bearing the brunt of this crisis. We are getting more calls from small business owners struggling to keep their companies afloat and innovating to survive. The SBTAP program is essential to our ability to assist them,” explains Milena Erwin, the Women’s Business Center Program Manager.

Many companies are looking for opportunities to move their services online. Licensed clinical social worker Latoya Watson opened her practice, Evolve Behavioral Health, almost 6 years ago. While successful and skilled in her field, she sought guidance regarding the business aspects of her company and was thrilled when she found the Center’s extensive list of affordable services in 2019. Through SBTAP, she has developed a business plan, clarified long-term goals, and built her confidence to execute her plans. 

Until recently, Evolve Behavioral Health operated out of a brick and mortar location, but is now permanently shifting online to offer telehealth sessions. Latoya had made the decision to move into telehealth prior to the current crisis, and was planning on doing it later in 2020. She has acted swiftly to make the move immediate so that her clients do not experience any gaps in treatment, especially during these anxiety-provoking times. The Center has been a big help to her throughout this difficult transition. "Everyone I have spoken with at the Center has made me feel very comfortable, encouraged me, and challenged me to keep moving forward despite my 'imposter syndrome' moments."

Funding from Prudential will be vital to helping countless local small businesses like Watson’s survive and even thrive in this new COVID-19 economy. Since 2010, Prudential has supported the University of Hartford’s Entrepreneurial Center & Women’s Business Center. “Training and resources provided by programs like these are essential to putting more Americans on track for sustainable financial wellness,” said Daryl Shore, vice president of Inclusive Communities with Prudential, “Now more than ever, creating pathways to economic growth for underserved communities is essential.”

Through the Prudential-funded Small Business Technical Assistance Program, qualifying small business owners benefit from one-on-one time with business advisors and technical experts. There is no such thing as a one-size-fits-all plan for program participants. A full assessment is conducted, goals are set, a commitment contract is signed, and entrepreneurs get a customized blueprint to establish and move their company ahead. Professional assistance covers a broad range of topics, including marketing strategy, website improvement, business plan development, financial management, legal issues, operations, hiring, and contracts.

The University of Hartford’s Entrepreneurial Center & Women’s Business Center provides personalized business advising, educational programs, technical assistance, and networking events to new and expanding small businesses in Connecticut. The Center focuses on serving women, minority-owned businesses, and other underserved constituents. Part of the nationally-renowned Barney School of Business, the Center specializes in turning ideas into viable businesses and break-even companies into sustainable, profitable, and scalable enterprises. For more information, visit www.hartford.edu/ec.