Learning to start a business at Metro North ABE
The Minnesota Chamber Foundation made a bold statement in the March 2021 report , The Economic Contributions of Immigrants in Minnesota . “ The success of Minnesota ’ s economy , both now and in the future , is intrinsically linked to Minnesota ’ s immigrant communities .” The report showed that Minnesota ’ s immigrant community complements rather than competes with Minnesota ’ s native workforce . As workers retire and new jobs are created , our immigrant community helps fill retirements and bring high skills for new jobs . Immigrant and refugees also create new jobs . Across the nation , immigrant and refugee populations are more likely to be entrepreneurs . Entrepreneurship plays an important role in our state ’ s economy through job creation , innovation , and increasing the Gross Domestic Product .
“ In Minnesota , there were over 18,000 immigrant entrepreneurs as of 2018 ,” the report states . “ Their firms employed 53,239 workers representing about 2 % of the state ’ s total labor pool . Yet despite these positive numbers , Minnesota ’ s immigrant entrepreneurship rate lags the rest of the country .” The percentage of foreign-born entrepreneurs in Minnesota is less than half the national rate , 7.7 % of the foreign-born national population is an entrepreneur while only 3.7 % of foreignborn Minnesotians are entrepreneurs .
While Metro North ABE is not a source of capital for new businesses , we can be a place where immigrants and refugees gain the knowledge and skills to open a business . Exploring how we could have a greater role in solving Minnesota ’ s entrepreneur gap , we reached out to our learners and asked how many of them would be interested in learning more about starting a business ; twenty-five learners replied . This response led us to offer a four-week course to introduce entrepreneurship .
Bai Vang , the College and Career instructor , led the class . Bai was the perfect leader for the work , having started her own business . She is passionate about small businesses , especially small businesses started by people of color . “ I understand what it ’ s like to go through not knowing who or where to look for information about starting a business . I wanted to teach this class so that information would become available to students who were in that situation .”
The course began with how to use technology , in this class and business , and then defined some common business terms and concepts . Then learners started to develop their ideas ;
Minnesota ’ s immigrant entrepreneurship rate lags the rest of the country .
2 exploring market research , what a business plan entails , and thinking about sales and costs . The course ended with resources that are available in the community . The class concluded with a panel of community business leaders who evaluated students ’ business ideas .
While one student who participated in the panel , Kunchok , had some experience with getting loans and renting a car for hire , she appreciated the breadth of the class and being able to share her plans with experts . “ It was really nice , I thought all the panelists were really listening . It made me feel like I could really do this .”
Carrie Mikkonen , Anoka County ’ s business advisor through a partnership with the Metropolitan Consortium of Community Developers ( MCCD ) “ Open to Business ” program , was excited to hear of Metro North ABE ’ s efforts to help fill the entrepreneur gap . But she also cautioned us , that many students have high skills after learning at Metro North ABE , but don ’ t have the industry-specific experience to launch and run a successful business . “ Many factors contribute to the success of a small business , however , one of the most important and perhaps overlooked factors contributing to the success of a new business is having industry experience .” She encouraged students to look at their current job experience and develop their business ideas using the skills they have developed . Carrie recommends that students find a mentor in the industry and work in the field where they plan to open a business . If you plan to open a restaurant , work in a restaurant to learn the trade , or work as a barista or manager if you ’ d like to open a coffee shop . Gain knowledge and experience before investing in a business . Not only will this help you determine if the industry is right for you , but many skills can be learned by spending time in that environment . While you don ’ t need every credential or tons of experience before launching your business venture , being equipped with as much industry knowledge and experience beforehand , will only help set your business up for success .
While Metro North ABE is very good at helping learners gain English proficiency and graduate with a high school equivalency , we know that is not the only education adults need . In order to ensure our learners can be the leaders of a strong Minnesota economy , we will continue to expand access to the skills they need to succeed .