New businesses need the mentoring of experienced business people to increase the probability of success. Common risks faced by the new business operator include:  1) Lack of access to business education and skill development 2) Inadequate access to capital and 3) In distressed urban communities, there is a tendency for entrepreneurs to start lower margin businesses in the service and retail sectors. To mitigate this risk we engage in active business mentoring.

Second Life Bikes

Interfaith Neighbors mentored Second Life Bikes, a local business, which repairs and restores old bikes for resale.  For over three years, Second Life Bikes has been operating in Asbury Park, receiving donated bikes and materials and then training area youth to repair and rebuild the bikes.  Participating youth are given the opportunity to learn new skills and earn a bike of their own. Serving as a model business and prototypical example of the tutelage available when working with the Interfaith Neighbors Business Development Center (“IFNBDC”), over the last few months Second Life Bikes has incorporated in the State of NJ as a legal business entity, created a business plan, filed paperwork to establish itself as a tax-exempt (i.e. nonprofit) organization, established an accounting system, expanded its business and issued a paycheck to its first paid employee. 

Confections of a Rock$tar

“Confections of a Rock$tar” uses the influences, skills and creativity of artist Kimmee Masi’s music and baking that blend for the ultimate multi-sensational experience.” Confections of a Rock$tar creates cakes and cupcakes for showers, birthdays, weddings, anniversaries and other occasions using quality ingredients to create a unique vision for any client.

Lunch Break

Lunch Break is a non-profit organization operating programs including a soup kitchen, Saturday lunches, food pantry and clothing distribution, among other specialized programs in Red Bank and the surrounding community. Lunch Break has entered a period of growth, and is working with INBDC to help them facilitate expansion of their current programs.

The Pampered Pot

Interfaith Neighbors recently began working with the Pampered Pot, a newly formed company creating unique and delicious soups as well as desserts and breads. The goal of this business is to develop a successful social entrepreneurship model that is both fiscally and socially profitable. The Pampered Pot seeks to provide training, work opportunities, and business ownership to willing program participants in the business.

ArtsCAP

The Arts Coalition of Asbury Park is a coalition of artists, citizens and cultural organizations dedicated to the promotion and advancement of the arts through collaboration, advocacy, and education. ArtsCAP facilitates positive working relationships among artists, educational institutions, the local government, local businesses and developers in order to build sustainable policies and programs for the arts.

Stay tuned for more information on new businesses participating in business acceleration!