A new nonprofit corporation has arrived on the Newark, New Jersey scene. It’s the Newark Community Economic Development Corporation and it has set its sights on Newark to make a financial splash in the city. It’s Senior Vice President and Chief Financial Officer is Kevin Seawright. Kevin is a local operations leader who is best known for his strategic vision and his ability to set and achieve defined business goals.
With his new nonprofit, Kevin is poised to help Newark make a large economic push this year while utilizing the services and support of the new Newark CEDC. With the CEDC’s help, Kevin is looking at advancing a citywide development plan whose primary goal is to economically advance all new businesses in Newark. To achieve these goals he plans on providing the CEDC with complete access to all new and existing small businesses with incentive loans to help advance their business and market growth goals in New Jersey. To help with this growth, the CEDC also has access to loan specialists whose job is to a help new businesses understand their financial statements, and their tax and credit reporting obligations. One of the main points of the CEDC is that even though there are many small businesses in Newark owned and operated by minorities if anybody comes to Newark with a viable small business plan and the Newark CEDC wants to support them they will support them. The CDEC is not just for women and minorities, it’s for everyone.
There is this to consider too, these programs are to only available to help businesses that are resident to the city of Newark. They are not available to nonresidents. To help with that, The CDEC is offering a business incubator class. These classes are designed to increase the businesses entrepreneurial development and business success through in-house consultation services, coaching and access to shared resources. In addition, the incubator tries to create an atmosphere for its students that encourages business growth and private job creation. The classes offered are to run for 12 weeks and at the end of that time, they are going to help graduates look for a building or kiosk for their new business. They are also partnering with interested banks and other partners to offer business loans to graduates in an effort to help them get a head start in the community.
Some of the more common mistakes new business owners often make relate to taxes as Kevin Seawright notes many times in interviews. Specifically, the biggest problems are accurately filing them and paying them in a timely fashion. Of course that’s a problem with just about everyone in America. But so far the CDEC has had great success having successfully assisted 53 new business in Newark. Kevin can also be found on SoundCloud.