The Register-Herald
Published: July 28, 2006

Region 1 WorkForce receives $200,000 grant from Benedum

Money slated to assist entrepreneurs

By: Fred Pace

Providing opportunities for entrepreneurs is the goal for a $200,000 grant awarded Friday to the Region 1 Workforce Investment Board in Beckley from the Claude Worthington Benedum Foundation.

"We want to build more of an entrepreneur culture in West Virginia," said Mary Hunt-Lieving of the Pittsburgh-based foundation. "We see this as an investment that can grow rapidly."

One of the Benedum Foundation's missions is to develop the entrepreneurial spirit and the business climate in southeastern West Virginia.

One program featured by Region 1 Work Force was the FastTrac^® program.

Perhaps one of the most visible FastTrac^® success stories has been that of the spring 2005 Beckley graduating class, which continued to meet after the formal program ended. Participants continued to gather momentum and members, and eventually formed the Entrepreneurship Alliance Inc.

"FastTrac^® is a great program and a tool that can help develop the business climate in West Virginia," said Doug Bicksler, president of the Entrepreneurship Alliance. "It will give participants the ability to build a foundation for their businesses and grow. Business people each have their own strengths, but FastTrac brings all the facets of business together and acts as a springboard for growth."

Graduates of FastTrac^® business and entrepreneurial programs offered in West Virginia indicate that the program has helped them yield increased revenues and has led to job creation at their businesses, said Deana Keener, a spokeswoman for FastTrac^®.

"Benefits are already beginning to show from the FastTrac^® program and the Entrepreneurship Alliance group," she added.

In a recent survey of FastTrac^® program graduates, 87.5 percent of those responding said they increased the gross sales of their businesses. Respondents indicated their gross sales increased by at least 10 percent and as much as 200 percent. Additionally, all respondents reported job creation at their businesses as a result of the increased gross sales.

"These are the kinds of statistics we really wanted to see when we decided to offer FastTrac^® programs throughout West Virginia," said Greg Clutter, director of commercialization, WVHTC Foundation. "These are early statistics on our programs because we're only in our third year of offering FastTrac^® programs, but to say this is encouraging is an understatement."

FastTrac^® GrowthVenture^™ is a program offered one evening each week for 10 weeks and targets people involved in existing enterprises who want to improve the performance of their businesses, Keener explained. The program features content and action steps to help business people sharpen their strategic thinking and decision-making skills as they plan for the growth of their businesses.

"Program participants complete the course with a business plan, entrepreneurial strategies and a vision for success," she said.

The 10-week programs will begin in Beckley, Martinsburg and Fairmont in early September. Dr. Ann Caviler will be the facilitator for the Beckley class.

"I am very excited about the program," she said. "It gives West Virginia entrepreneurs opportunities to build more businesses."

GrowthVenture^™ programs cost less than the average college course and qualifying participants may obtain scholarships that pay for half of the program. Payment options are also available for registered participants.

To register for FastTrac^® programs or for further information, contact Keener at gdkeener@wvhtf.org or at 304-366-2577.