Invest Newark, the City of Newark’s Economic Development Corporation, today announced the launch of the “Language of Capital” series, in partnership with Valley National Bank. The course provides Newark-based entrepreneurs with instruction to build business acumen, equipping them to make the most informed decisions to achieve their entrepreneurial goals. Topics covered in the series include business insurance, using merchant services, business planning, equipment financing and more.
“The health and success of Newark’s economy is directly tied to our local businesses, which are vital to sustainable and equitable economic growth,” said Marcus Randolph, president and CEO of Invest Newark. “The Language of Capital class has proven an important resource for entrepreneurs that are looking to expand their knowledge and literacy of financial planning for their small businesses, and we are grateful to our partners at Valley National Bank for investing their resources into such a valuable program. We look forward to continuing this class along with our other efforts to promote economic development opportunities across Newark.”
This is Invest Newark’s 9th cohort of the Language of Capital program, and the 4th in partnership with Valley National Bank. The first class of this series occurred on Wednesday, October 26th with 42 attendees. Since the series’ inception in 2019, more than 300 Newark-based small business owners have participated. The program is offered two to three times per year with versions in English, Spanish, and Portuguese. The class also marks the kickoff of National Entrepreneurship Month, which is celebrated in November.
“Valley is proud to partner with Invest Newark’s Language of Capital program to support small business owners in Newark,” said Luis DeLaHoz, regional director of Community Lending, Valley Bank. “Our Community Lending Team is dedicated to helping minority owned businesses achieve financial security and through this program with Invest Newark we are providing important financial information that owners need to operate their businesses successfully.”
The ‘Language of Capital’ series is one of Invest Newark’s many programs that work to uplift local businesses and is part of the organization’s robust work on supporting Newark’s economic prosperity. Invest Newark leverages its position as a governmental partner and anchor of the economic development network to invest in the community, eliminate the racial wealth gap and create a city that allows all to prosper.
“As business owners we must learn to build a profitable business. The Language of capital series has helped me understand how important it is to understand our business financials, our market competition in order to remain profitable,” said Hilda Mera, owner of Newark-based S&A Auto and previous participant in the ‘Language of Capital’ class.
You can also see a video testimonial from Hilda here.