BizUp Palm Springs
BizUp Palm Springs – The Business Readiness Program for Palm Springs-Based Entrepreneurs – caters to the needs of both very small and small businesses operating within or serving the City of Palm Springs, California. This program is crafted to empower participants with essential skills and knowledge essential for initiating, expanding, and effectively managing their businesses. It is uniquely tailored to encompass the distinctive characteristics of the city and its diverse communities. The primary objective is to enhance economic mobility and foster financial independence among entrepreneurs, all while placing equal emphasis on their sense of purpose in business pursuits and the positive impact on their local communities.
BizUp Palm Springs is the result of a partnership between Caravanserai Project and the City of Palm Springs, and is funded by the Riverside County Office for Economic Development and California Office for Business Advocate.
Access to Capital
The successful graduates of the Business Readiness Program for Palm Spring-based Entrepreneurs are eligible for business grants of up to $5,000. The funding is provided by the City of Palm Springs as part of a partnership with Caravanserai Project.
Who Should Join
- Early-stage or more seasoned entrepreneurs based in Palm Springs, California (regardless of incorporation status).
- For profit and sole proprietor entrepreneurs.
- Targeted outreach is being made to diverse, BIPOC, entrepreneurs, women, immigrants, and individuals with limited-English proficiency, residents of low-wealth communities who have traditionally experienced limited or no access to resources and growth opportunities.
- Must have a decision-making role in the venture (founder owning at least 51%, CEO, Executive Director etc.)
Structure
- Up to 20 businesses that are based or serving the City of Palm Springs
- 12 cohort-based workshops (90-120 minutes/workshop).
- Up to 5 one-on-one coaching/Q&A sessions (offered by Caravan SBDC)
- Business plan presentations
- Language of instruction: English
- Hybrid format (online and in person)
Syllabus
Business Vision, Mission. Setting Goals
Week 1 (online)
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
Business Models, Planning and Implementation
Week 1 (online)
- Duration: 90 minutes
- Mandatory participation
- Online (Zoom)
Financial Management 101: Financial Foundations
Week 2 (online)
Topics:
- Understanding Financial Statements
- Budgeting and Forecasting
- Cash Flow Management
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
Financial Management 102: Effective Cost Management
Week 2 (online)
Topics:
- Cost Identification and Analysis
- Expense Tracking and Control
- Cash Flow Management
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
Financial Management 103: business Growth
Week 2 (online)
Topics:
- Strategic Financial Planning
- Scaling Your Business
- Monitoring and Adjusting Financial Plans
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
Customer Discovery
Week 3 (online)
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
The Competitors
Week 3 (online)
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
Marketing And Sales
Week 4 (online)
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
Banking Reimagined
Week 4 (online)
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
Community Engagement and Social Responsibility. Leadership Resilience
Week 5 (online)
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
Pitch your Business. From Pitch Design to Strategies
Week 5 (online)
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
Business Presentations
Week 6 (person)
- Duration: 90 minutes
- Mandatory participation
- Hybrid (in-person/online)
How to join
1. Apply
2. Selection of Applicants
March 10 - April 30, 2024
3. Notifications Sent to Applicants
June 1 - 10, 2024
4. Program starts
The program is offered in hybrid format.
(June 2024)
5. Graduation
Certificate of Completion awarded
6. Access to Capital
To be eligible for the business grants, the participants must meet all program requirements.
Frequently Asked Questions
It depends on the program.
Caravanserai Project partners with a number of local, regional and federal institutions, private and public entities to provide access to capital. Each source of funding comes with restrictions regarding the amount awarded or the type of entity eligible to access capital.
Each source of funding comes with restrictions regarding the amount awarded or the type of entity eligible to access capital.
Yes. Only entrepreneurs who successfully graduate and attend the mentoring sessions and meet the rest of the criteria are eligible to access capital.
No. The entrepreneurs are eligible to receive only one micro-grant.
Nonprofit, for-profit enterprises, and sole proprietors are eligible to receive business capital. Specific conditions and eligibility criteria vary for each program.
