Cuomo launches Business Mentor NY

Gov. Andrew Cuomo on Thursday announced the formal launch of Business Mentor NY, the state’s first “large scale, hands-on” mentoring program geared to help entrepreneurs and small businesses across New York overcome challenges and spur growth.

First mentioned in Cuomo’s State of the State address, the new initiative builds on the volunteer-mentoring efforts that helped businesses following Superstorm Sandy, Hurricane Irene, and Tropical Storm Lee, the governor’s office said in a news release.

The free mentoring program connects volunteers working in the private sector to small businesses and minority and women-owned businesses to help them address specific challenges and obstacles to success.

The U.S. Department of Housing and Urban Development provides some of the funding for the program, while Empire State Development handles the program’s administration, Cuomo’s office said.

The one-on-one guidance and counsel will complement the state’s current network of financial and technical-assistance providers.

“When fully operational, it will function as one of the largest integrated networks in the country that will meet the needs of all businesses across New York state,” Cuomo said in the news release.

The mentoring network includes lawyers, accountants, business consultants, and entrepreneurs, along with experts in the field of finance, retail, communications and information technology, human resources and staffing, public relations, and sales and marketing, according to the governor’s office.

The state says it is conducting the program in partnership with MicroMentor, an initiative of Portland, Ore.–based Mercy Corps

Mercy Corps, to leverage its track record of success nationwide.

Mercy Corps says it works to “alleviate suffering, poverty, and oppression by helping people build secure, productive and just communities,” according the organization’s website.

MicroMentor says it has found that businesses that participate in formal mentoring programs, such as Business Mentor NY, are more likely to increase their annual revenue, create jobs, and launch successful businesses compared to business that don’t participate in mentoring programs.

As part of the second stage of the program, New York will launch the Business Mentor NY website this spring. It’ll allowing small businesses to register for the program online, review mentor profiles, and engage with mentors directly.

Program administrators will also be available to help small businesses identify suitable mentors and ensure program quality.

In the final stage, Business Mentor NY will be available to small businesses throughout New York, the governor’s office said.

Contact Reinhardt at ereinhardt@cnybj.com