The University of Illinois Springfield is supporting the Springfield Minority Business Institute, a new program designed to help minority entrepreneurs and nonprofit leaders build the skills and connections needed to grow successful organizations.

As part of the program, UIS Assistant Professor of Finance Serkan Karadas recently led a hands-on workshop introducing participants to fundamental financial concepts using Microsoft Excel. The two-hour session focused on helping business owners better understand and analyze financial information.

“I had an incredible experience teaching a Finance Workshop for the inaugural class of the Springfield Minority Business Institute,” Karadas said. “It was a dynamic, hands-on two-hour session where we dove into fundamental financial concepts using Excel. The participants were fully engaged, and I was thrilled to receive such positive feedback, including comments like ‘excellent presentation.’”

Participants will also visit Innovate Springfield, the university’s hub for innovation and entrepreneurship, during the week of March 16-20 at its new location inside the Horace Mann building in downtown Springfield. The session will focus on programs and services available to entrepreneurs and small business owners, including tools that help businesses access grant opportunities and workshops on using artificial intelligence in business operations.

The Springfield Minority Business Institute is led by the Springfield Office of Community Relations in collaboration with the Springfield Urban League, the Greater Springfield Chamber of Commerce and the University of Illinois Springfield College of Business and Management.

The nine-week program brings together 15 to 20 participants for weekly sessions hosted by partner organizations throughout Springfield. Participants gain practical knowledge about topics such as applying for city grants, navigating permitting and zoning requirements, developing financial strategies and building connections with local business leaders.