ST. LOUIS — The Urban League announced it is opening an entrepreneurship center in north St. Louis later this year.
The organization is teaming up with Commerce Bank to open the facility at the corner of Newstead and Natural Bridge Avenues. The center will provide services to help entrepreneurs organize finances, learn how technology can help manage and expand businesses and create an ecosystem of businesses that will generate money and energy. They say about 75% of entrepreneurs who utilize the Urban League services improve their company’s bottom line.
"If your economic development strategy is just chasing the relocation of large businesses but doesn't include a focus on building indigenous small businesses, then your strategy is flawed," Marc Morial, the National Urban League president said.
He said St. Louis leaders are sitting on a gold mine of untapped potential.
Local Urban League president Michael McMillan hopes this center is the match that ignites the black business community.
"We would like to see hundreds of companies throughout the entire region to provide jobs and economic opportunity for people who have never had it before,” McMillan said.
Urban League President Michael McMillan said he hopes this center becomes the number one women's business center and Urban League Entrepreneur Center in the country. He’s relying on a mix of professionals and volunteers to help educate and support local businesses.
Tommy L. Davis started TD4 Electrical. Davis said it’s one of the largest black businesses in the country. He looked up to older black men in his community when he was younger. They frequently would pass along advice. He said now it’s his turn to reach back and help others.
“I'm not the smartest guy, I'm the most persistent guy,” Davis said. “I made a lot of mistakes along the way. But I want to help other businesses from not making the same mistakes. You don't have to be rich to get started. But you have to get started to get rich."
The Urban League said it is still looking for more help. They hope to have the facility open by the end of the year.