Money and Mentorship: A New Initiative Provides Four Fledging Business Owners with $10,000 Grants and the Counsel of Experienced Entrepreneurs

By Edmond, Alfred, Jr. | Black Enterprise, April 1994 | Go to article overview

Money and Mentorship: A New Initiative Provides Four Fledging Business Owners with $10,000 Grants and the Counsel of Experienced Entrepreneurs


Edmond, Alfred, Jr., Black Enterprise


A new initiative provides four fledgling business owners with $10,000 grants and the counsel of experienced entrepreneurs.

Capital and information are the two most desperately needed resources of the new entrepreneur. The Tanqueray Emerging Entrepreneurs Program, now in its first year, is among the rare programs that provide both of these commodities to new business owners. The goal: to put the new firms on course for long-term business success.

The Emerging Entrepreneurs Program is sponsored by Tanqueray, the gin brand of New York-based Schieffelin & Somerset Co. The year-long project, facilitated by Chicago's Cosmopolitan Chamber of Commerce (in association with BLACK ENTERPRISE), supplies four African-American entrepreneurs with professional, personalized guidance from established entrepreneurial mentors, and the equivalent of $10,000 each in cash, equipment and services to further the development of their new businesses.

"This program represents a rare opportunity to gain the seed money that can vault a new business onto the success track," says Chamber President Consuelo Pope. "More important, it allows the up-and-coming entrepreneur to have one-on-one interaction with a business person with a proven track record."

The four emerging entrepreneurs participating in the program are Dr. Carol A. Tucker of Tucker Podiatry; Gwendolyn Hudson Tate, founder and publisher of The Good News Journal; Keith E. Miller of Thumbs-Up Lawn Care; and Frederick D. Garth, president of Garth Electric Inc.

These entrepreneurs have earmarked their $10,000 grants for everything from advertising and computer equipment to site relocation.

The mentors paired with these businesses are Clay Jones, president of Claybon Jones & Co Inc. …

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Money and Mentorship: A New Initiative Provides Four Fledging Business Owners with $10,000 Grants and the Counsel of Experienced Entrepreneurs
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