The Cincinnati Minority Business Collaborative ("CMBC") engages to provide capital and customer readiness support to high-potential minority businesses in the region. The collaborative is not a new organization, but a new concept and a new way for existing organizations to work more effectively together to help grow our community's minority business enterprises (MBEs).
Our level of collaboration is rare and unprecedented in the United States. We strive to maximize our collective capabilities to positively impact the growth, development, and success of minority companies in Cincinnati USA.
We believe that adequate preparedness in positioning a business for capital creates an environment that will lead our participating companies to greater success in obtaining bank financing, investor capital, and other sources of capital that ultimately will lead to sales growth, operating capacity, profitability, and wealth creation.
While our primary focus is geared towards achieving capital readiness for participating businesses, programmatic assistance is provided at no cost by highly experienced and industry specific business coaches and professionals, many of whom have been successful entrepreneurs or corporate executives. These professional resources help with a wide range of subject matter expertise necessary to adequately prepare for raising capital, including but not limited to strategy, operations, infrastructure, and financial planning.
To qualify for assistance from the CMBC, the business must be at least 51% minority-owned and controlled, and demonstrate the ability to achieve the following two growth criteria:
1. The ability or vision to achieve $5 million in sustainable annual revenues within 3-5 years of joining the initiative;
2. A vision to create at least 15 permanent jobs within 3-5 years to stimulate broader economic and employment growth.
The emphasis is on the upside growth potential of the business, and how our collective resources can assist in taking the company to scale. Our services are based on strategic and logical connections and resources; no significant overlap in each member's respective services; and synergies between the collaborating organizations.