Allstate Minority and Women Emerging Entrepreneurs Program Begins this Month

BUFFALO, N.Y. -- Fifteen minority and women entrepreneurs from the Buffalo-Niagara region have been selected in a competitive process to participate in the Allstate Minority and Women Emerging Entrepreneurs Program offered by the University at Buffalo School of Management Center for Entrepreneurial Leadership (CEL) and the UB Center for Urban Studies.

The program, now in its second year, will begin with an orientation breakfast on Feb. 15 in the Jacobs Executive Development Center, 672 Delaware Ave., where each participating entrepreneur will be matched with two mentors, one a business expert from the CEL community and the other a recognized minority. In addition, last year's "Protégé of the Year," Laurice A. Vance of Vance Insurance Agency, will speak at the breakfast.

Throughout the year, mentors will provide their protégés with technical advice on various aspects of running a small business, such as marketing, merchandising, pricing, inventory control, accounting, long-range financial planning and basic legal advice, culminating in the development of a new or revised business plan. The program will conclude with an awards dinner on Dec. 7.

According to program organizers, the mission of the Allstate Minority and Women Emerging Entrepreneurs Program is to construct a pathway that enables minority and women entrepreneurs to move their companies to the next stage of development in terms of annual revenues, organizational structure and possible expansion opportunities.

"Creating opportunities for minority and women entrepreneurs bolsters the development of their companies, fosters economic independence and strengthens the fabric of the community," says Althea Luehrsen, executive director of the CEL. "We received extremely positive feedback from the entrepreneurs and mentors who participated in our inaugural program last year. This year, we were able to expand the program's offerings even further through the support of The Allstate Insurance Company and The Allstate Foundation."

"Allstate has a longstanding commitment to the people and communities we serve," said Geoff Williams, controller for Allstate Insurance Company operations in New York State. "The entrepreneur program seeks to provide these business owners with a sound financial foundation and business practices that will help take their companies to the next level. We believe in the financial potential of every individual, and are extremely proud to support a program that helps people realize that potential."

Allstate Insurance Company is the largest carrier of auto and property insurance in New York State. The company also offers a broad range of Financial Service Products, as well as traditional banking products and services via the Allstate Bank at http://www.allstatebank.com.

Founded in 1952, The Allstate Foundation is an independent corporation funded by contributions from The Allstate Corporation. The Foundation invests millions of dollars in U.S. programs aligned with three focus areas: safe and vital communities; tolerance, inclusion and diversity; and economic empowerment.

For more information on the Allstate Minority and Women Emerging Entrepreneurs Program, call the CEL at 645-3000 or visit http://mgt.buffalo.edu/ced/cel.