14BB AN INDEPENDENT SUPPLEMENT BY MIA MEDIA & COMMUNICATIONS GROUP TO THE SUN SENTINEL FRIDAY , DECEMBER 16 , 2016
SMALL BUSINESS MATTERS
By : Denise St . Patrick-Bell , PhD
Andy Cherenfant , Pres The Cherenfant Group
The Millennials , those born 1982 -2004 , are the biggest genera�on in American history , an es�mated 81.1 million . Millennials already comprise the largest share of the American workforce . Sociologists purport that they are the first genera�on to really prac�ce the concept of work / life balance . So , it is not surprising that when polled , 66 % of them said they want to own their business . But while they are being touted as the most
The Cherenfant Group : A New Resource for Entrepreneurs
entrepreneurial genera�on , the reality is that millennials , as well as many other minority entrepreneurial hopefuls , are not following through on their entrepreneurial dreams . The big ques�on of course is “ Why ?”
Of course , there are many varied reasons , but one that has a solu�on is capitaliza�on . Start-ups whether they are for-profit or not-for-profit need several components . The first steps include deciding your small business concept , product , or service and choose the legal structure that best suits your business . Then create your business plan which will include your ideas , strategies and financial outlook . Then take it to the bank and get your funding . Right ? Not usually . For the average African American , whether a millennial or any expectant entrepreneur , the biggest obstacle is access to capital .
It was for that very reason that Andy Cherenfant opened for business in 2014 . The Cherenfant Group ( TCG ), Inc is a business development consul�ng group that works with small businesses , government and established financial ins�tu�ons to promote economic
development in low income and blighted communi�es . TCG is a company that provides technical assistance and access to capital for those entrepreneurs who are considered “ unbankable ” by the tradi�onal lending sources . Even Community Development Financial Ins�tu�ons ( CDFI ’ s ), which play a key role in wealth building , cannot assist you if you have a low credit score .
This company ’ s president is a service oriented strategic thinker and crea�ve problem solver who has been integral in the startup , technical assistance and growth of minority businesses throughout South Florida . Andy Cherenfant is a cer�fied business incuba�on manager , one of few na�onwide who hold this status from the Interna�onal Business Innova�on Associa�on . He is a south Florida na�ve who grew up in Miami , and who except for his �me away for college , has remained in South Florida . According to Cherenfant , “ TCG ’ s mission is to empower people economically while ensuring that those who live in poverty , par�cularly vulnerable black men , women and veterans have access to the services , support and capital to start or stabilize their businesses .” Mr . Cherenfant has assisted in securing over $ 1.5 in loans to small businesses . The loans range from $ 3,000 to $ 245,000 which earned him the mantra of “ The Money Man .” Ninety-eight percent of the loans were awarded to a black-owned business . Andy explains , “ A primary objec�ve for TCG is to assist South Florida in building a stronger more diverse business community . In order to do this , we need to improve the market share / compe��ve posi�on for minority entrepreneurs . And I have posi�oned my company to do just that .”
So , millennials and others are you ready to take that first step to business ownership ? Andy can be reached directly through his email andy @ cherenfantgroup . com or a call 754.900-1066 .
Dr . St . Patrick-Bell is the owner of GAICON LLC and a Principal in Global Strategic Partners Alliance , companies dedicated to the growth of the non-profit and small business sectors from concept to capitalization . For more information www . gaicon . net or call 754.779-2204 .
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