The Economic Growth Business Incubator receives the Platinum Seal of Transparency for 2024 by Candid.

We are honored to receive Platinum Seal of Transparency for 2024 by Candid. The Platinum Transparency Rating is the highest level a nonprofit can achieve, signifying an exceptional commitment to transparency in sharing, our goals, strategies, financial data, capabilities, achievements, and progress. 

Learn more about EGBI and this award: https://www.guidestar.org/profile/90-0128899

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 EGBI   |   Austin, TX   |  https://egbi.org/

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SummaryPrograms + ResultsFinancialsOperations

PLATINUM2024

Mission

The Economic Growth Business Incubator (EGBI) provides training, coaching, and support to aspiring and existing business owners who face barriers to growing a successful business. Barriers include education, finance, and language. We believe that all businesses should be profitable, sustainable, and an asset to the community.

Notes from the nonprofit

Economic Growth Business Incubator (EGBI) is a non-profit organization which provides training, coaching, and support to aspiring and existing business owners who face barriers to growing a successful business. EGBI believes that all businesses should be profitable, sustainable and an asset to the community. To that end, we offer a comprehensive package of business coaching, group workshops, and support services for aspiring and existing businesses. We frequently work with micro and small business owners and a lot of the businesses that we work with are still in the design state and are not active yet; or they have been in business for less than five years. Some of the businesses who partner with E.G.B.I. could be considered informal businesses and the owners are ready to transition into a more structured business entity. Typical businesses that partner with E.G.B.I. are mom & pop businesses and lifestyle businesses.

Executive Director: Larissa Davila

Main address

1144 Airport Blvd Ste 260

Austin, TX 78702 USA

Programs and results

What we aim to solve

The Economic Growth Business Incubator aims to be a better organization and increase our impact in the community while moving towards a more self-sustainable model for funding because we want to… Read more

Our programs

SOURCE: Self-reported by organization

What are the organization’s current programs, how do they measure success, and who do the programs serve?

Training, Coaching and Support

EGBI is industry-agnostic, in that we work with aspiring and existing business owners who bring the expertise around their idea; and we bring business practices, strategic thinking, and other resources.
Many of our clients come with years of industry experience; but lacking opportunities to advance in their place of employment, choose to start their own business. Their knowledge of the industry gives them the competitive advantage to be successful. However, they often lack the business acumen to manage a successful business. Through our training, coaching, and support services, we assist our clients to understand how to run and manage their business effectively and efficiently.

TRAINING
EGBI’s signature program is a two-part, foundational workshop series: Build Your Business PLAN and MANAGE the ABCs of Business. These workshops are geared to help participants focus on their business idea, develop a useful plan, and learn the tools to manage their business.

COACHING
EGBI offers private coaching sessions: one-on-one time for clients to explore deeply their business idea and strategy. Coaches help clients develop their business model, create financial projections using spreadsheets, identify specific strategies for marketing their business, and work through next-step action plans with an accountability partner in EGBI. Private coaching often uncovers life issues and barriers in the way of moving forward; and the opportunity to identify experts, resources, tools, and opportunities to resolve these issues.

SERVICES
EGBI offers bookkeeping support, helping our clients set up manual systems for very young businesses, and moving to QuickBooks Online as soon as it makes sense. EGBI can offer an hour of questions and answers, set up services, support for payroll through an online partner, and monthly reconciliation services. As part of our monthly service, we review financial statements with our clients, practicing how to use these statements to manage and grow.

Find the Spanish Version here.

Difference between LLC and a DBA with Larissa Davila

En este episodio abordamos las diferencias entre LLC (Compañía de Responsabilidad Limitada) y DBA (Haciendo Negocios Como). Un LLC ofrece una entidad legal separada que protege los activos personales del propietario de las responsabilidades comerciales, mientras que un DBA es un nombre comercial registrado que a menudo está vinculado al nombre y activos personales del propietario. Registrar un DBA en Texas implica acudir a la oficina del condado local, mientras que un LLC se puede registrar a nivel estatal a través de una base de datos.

Ambas opciones tienen ventajas y desventajas. Un LLC ofrece una mejor protección de los activos personales, pero puede ser más costoso de establecer, mientras que un DBA es más flexible pero deja al propietario personalmente responsable. Larissa aconseja consultar con profesionales para elegir la opción correcta y destaca la importancia de los contratos y el seguro, independientemente de la elección. Un LLC permite la transferencia del negocio, mientras que un DBA no. Además, presentar un negocio con un DBA a inversores puede ser menos atractivo debido al aumento de los riesgos de responsabilidad. La consideración cuidadosa y la investigación son esenciales antes de decidir entre LLC y DBA para un negocio.

Recordemos que es importante contar con buenos contratos y seguros, sin importar si el negocio es un LLC o un DBA. Es fundamental llevar un control de las finanzas y evitar mezclar los fondos comerciales y personales, ya que esto puede conducir a complicaciones legales y poner en riesgo el negocio.

Kandace Vallejo: Serve your community with a profitable business

Kandance Vallejo, the visionary behind Remedios Consulting, shares valuable insights on launching and growing successful businesses with a focus on interpersonal relationships and leadership coaching. Transitioning from business ownership to consulting, Vallejo emphasizes innovative thinking in overcoming challenges.

Kandance’s advice resonates with small businesses and nonprofits, emphasizing coaching in leadership. In contrast, in a podcast, she discusses her entrepreneurial journey, highlighting the importance of interpersonal relationships and coaching.

Addressing scaling challenges, Kandance advocates for early hiring to prevent burnout, collaborates with Tressa Rowland for profitable strategies in 2024, and advises prioritizing business intelligence and realistic planning. She underscores the significance of strong teams and effective leadership hiring, training, and support. Kandance emphasizes responsibility in training employees and suggests seeking operational support for sustainable growth.

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Meet EGBI Volunteer – Larry D. Williams

By Bego Calderon

Larry D. Williams is the Community Liaison for the HUB (Historically Underutilized Business) of the Purchasing Department of Travis County. Travis County and its HUB department are award-winning organizations within the government purchasing arena.  He received his BA from Arizona State in Mass Communications and Media Studies with a minor in Public Policy and Public Service. Larry prides himself in bringing professionalism, innovation, and equity to the forefront of every position he has been involved in. Larry has focused his entire career on expanding nonprofits’ and governmental agencies’ community-level work to enhance their effectiveness with their most important stakeholders. It is his passion for seeing professionals and community organizations break through their boundaries and expand their effectiveness in their given communities.

Larry shares his experience as a volunteer with EGBI.

Share a fun fact with us.

A fun fact about me is that I am new to Central Texas. I have an ever-growing list on my phone of great and unique places on my phone that I have experienced since I moved here.

“It became more desirable for me to be a small part of seeing that mission available to the community” – Larry D.Williams

-How did you first get involved with EGBI?

When I was hired as the Community Liaison for the Travis County Purchasing HUB program I went through the HUB Resource Guide and connected with external stakeholders listed there. EGBI was one of those organizations.

-Why do you volunteer for EGBI?

I was first impressed by the professionalism of the staff. As I became more aware of the mission and vision of EGBI it became more desirable for me to be a small part of seeing that mission available to the community.

-How has your involvement with EGBI helped you grow professionally and personally?

My time volunteering with EGBI introduced me to the entrepreneurial climate of Austin and Travis County. Being involved with EGBI also made me that much more excited to enhance this community by improving the access that Historically Underutilized Businesses have to the Purchasing process of Travis County.

– What was the most rewarding experience you had while volunteering for EGBI?

Being able to share the HUB process of not only Travis County but also the other governmental agencies in the area.

– Why do you think others should volunteer or support EGBI?

I believe others will find a passion for the entrepreneurial climate of the City of Austin and Travis County and its importance in our community.

EGBI provides training, coaching, and support to aspiring and existing business owners who face barriers to growing a successful business. If you would like to support our efforts, please visit our website https://egbi.org/donate/.

Meet EGBI Volunteer – Maria Hoffman

By Bego Calderon

Born in Venezuela, Maria holds a bachelor’s in architecture and a marketing certificate. As a new degree holder, she had the opportunity to work in trade shows’ booth design and production, translating into more than ten years of work in the field of trade shows and corporate image. Later, she moved to the United States and worked in higher education administration spearheading the student services department in a private university. For more than a decade she worked developing student services procedures and training with a particular concentration on students’ non-academic matters assistance, regulations compliance, campus safety, handbook revision and update, student onboarding, and major university events.

Her responsibilities as a student services administrator also provided her with an open door for community service, getting involved in organizing fundraising and awareness events to support national and local organizations, overseeing, and advising students’ clubs and associations, and mentoring the Student Government Association.

Her volunteer work led her to act as a mentor for a non-profit organization, Youth and Democracy in the Americas. Being its Mission to raise awareness regarding the situation of democracy in Latin America, it successfully progressed attaining the support of the Secretary-General of the Organization of American States Luis Almagro, several US Senators and Representatives, national and foreign student organizations, and various other non-profit organizations.

More recently, Maria has been involved in e-commerce and logistics having among her duties the translation and interpretation of meetings, training, and documents for limited English proficient team members. In her spare time, she volunteers as an assistant instructor for an early literacy for adults’ program, and as an English-Spanish translator and interpreter for non-profit organizations.

Maria shares her experience as a volunteer with EGBI.

Share a fun fact with us.

I love to swim in cold waters but not on the beach or rivers. I prefer to swim by jumping off of a boat, in the clear shallow blue waters of the open sea.

“It is an exciting opportunity to learn about EGBI’s work and mission” – Maria Hoffman

-How did you first get involved with EGBI?

I was looking for opportunities to volunteer and got involved with EGBI through Volunteer Match.

-Why do you volunteer for EGBI?

It’s an opportunity that allows me to give back to the community. On the other hand, I have the chance to put into practice my translation skills, which is something I highly enjoy.

-How has your involvement with EGBI helped you grow professionally and personally?

Professionally I believe it is an exciting opportunity to learn about EGBI’s work and mission. Personally, EGBI provides me with the rewarding feeling of being of help for a good cause.

– What was the most rewarding experience you had while volunteering for EGBI?

I’m new to EGBI, yet I appreciate the opportunity to collaborate to spread the voice about the resources available for small businesses and entrepreneurs.

– Why do you think others should volunteer or support EGBI?

Helping small businesses and entrepreneurs to succeed is very important, and volunteering with EGBI increases the opportunities to accomplish that goal.

EGBI provides training, coaching, and support to aspiring and existing business owners who face barriers to growing a successful business. If you would like to support our efforts, please visit our website https://egbi.org/donate/.