New Jersey Entrepreneur

JERSEY CITY- Mayor Jerramiah Healy and representatives from Goldman Sachs, honored graduates of Rising Tide Capital’s Community Business Academy during ceremonies that followed a 6 pm reception Wednesday, April 25, 2007, at Goldman Sachs, 30 Hudson Street.

The ceremonies, featuring keynote speaker Sakiya Sandifer, CEO of We Think LLC. and recent publisher of the book "Think, Think, Think and Think Again," celebrated and presented the latest class of new entrepreneurs to the community via Rising Tide Capital (www.RisingTideCapital.org), a nonprofit business training program for disadvantaged entrepreneurs in Jersey City.

Sandifer, of Jersey City, is also in the midst of co-writing a book with multi-Grammy Award winner Kanye West. His highly-requested presence served to inspire the class of graduates who completed the Community Business Academy, a 10-week course in basic business planning and management designed for the start-up entrepreneur with little or no business experience.

"If it wasn’t for Rising Tide Capital’s investment in me and my community, I would still be hustling rather than managing my business," said Harvey George, one of the recent graduates.

"Jersey City has become the destination city for business interests seeking a friendly atmosphere for both front and back-office presence," Mayor Healy said. "What Rising Tide Capital has done is to give our local residents the same tools and know-how to accomplish what established corporations are seeking within our city."

Rising Tide Capital, Inc. offers the Community Business Academy (CBA) four times per year in Jersey City. Goldman Sachs was the corporate sponsor of the Winter 2007 CBA, and provided full scholarships for all 16 graduates.

Rising Tide Capital is a non-profit organization based in Jersey City, whose mission is to help disadvantaged inner city entrepreneurs in Northern New Jersey start and grow small businesses in order to increase their income and better support their families.

"Graduates of the Community Business Academy go on to open stores and businesses in the community," said Alfa Demmellash, CEO of Rising Tide Capital. "One of the graduates tonight just opened her store right on Martin Luther King Drive, a few blocks down from where she went to class each Saturday at the Urban League. Business owners like her create jobs and strengthen the community. We are so proud of each of our graduates and grateful to Goldman Sachs for making this vital program possible."

Rising Tide Capital has been working in Jersey City for 3 years, providing business training and consulting to low-income entrepreneurs. The Community Business Academy is offered in partnership with the NJCU Small Business Development Center and funding is provided, in part, by the State of NJ Urban Enterprise Zone Authority in coordination with the Jersey City Economic Development Corporation.