According to the Edwards Lowe Foundation, citing data from YourEconomy.org from “2005 to 2015 second-stagers [businesses] only represented 17 percent of all U.S. businesses, but they generated more than 37 percent of jobs and 36 percent of sales.” A new partnership with Innovate SOMO and the Missouri SBDC is expanding access to a program called Elevate to help promote Second-Stage Growth in our region.
A “second-stage business” is a company that is passed the start up phase and has become a stable operating business with somewhere between 10 – 99 employees and annual sales revenue between $1 - $50 Million dollars. Another key element of a second-stage business is the both the opportunity and interest to grow.
The recently expanded Elevate program, a partnership between the Missouri SBDC and the Edward Lowe Foundation provides an opportunity for second-stage businesses across the Innovate SOMO service area to:
· Gain knowledge from experts nationwide – including someone who will consult with you on your specific needs through the System for Integrated Growth® (SIG).
· Expand your market (and your sales).
· Network and collaborate through regularly scheduled virtual peer-learning roundtables, called PeerSpectives®.
· Advance your business.
If your business is privately held, employing 10-100 full-time equivalent employees, and reporting annual revenue of $1-$50 million, the elevate program might be a great opportunity to help you take your business to the next stage of growth. Apply today online or reach out to our area Innovate SOMO Partners at Codefi to see if your business is ready to grow with the support of Elevate.
