THE CEC'S IMPACT IN 2007

The Chicagoland Entrepreneurial Center (CEC) worked directly with 1,100 Chicagoland businesses in 2007 through its one-on-one services, programs and workshops. Of these, 148 were served specifically through the CEC’s one-on-one services. We are able to provide these services to clients through our relationship with the Illinois Department of Commerce and Economic Opportunity (DECO) as an Entrepreneurship Center.

Sales and client development services for CEC clients

• Total number of introductions made by the CEC: 1,600
• Average number of introductions to potential clients or partners each company received: 11
• Amount of new contracts secured through direct intervention by the CEC: $40 million

Financing services for CEC clients

• Number of companies that received financing services: 63
• Amount of debt and equity financing the CEC helped raise for clients: $33 million
• Average amount of financing raised for each CEC client: $524,000

Job creation and retention by CEC clients

• Number of jobs created through CEC efforts: 350
• Number of jobs retained through CEC efforts: 921
• Total number of people employed by CEC clients: 1,271

Entrepreneurship Center grant dollars awarded

(Program is sponsored by DCEO)

• Number of matching grants awarded to entrepreneurs for financing services: 10
• Number of matching grants awarded to entrepreneurs for sales and client development services: 15
• Amount of matching grant dollars awarded to CEC clients: $145,000

CEC Client Growth Rates

• On average, CEC clients see a 56% increase in revenue and a 63% increase in staff size in a 12-month period

Annual Economic Impact

• Total revenue of CEC clients in 2007: $175 million
• Average salary of CEC clients’ full-time employees: $52,000

Percentage of CEC clients that are women/minority-owned businesses: 50%

CEC client distribution by industry

• Technology: 35%
• Retail and consumer products: 20%
• Fashion and apparel: 20%
• Food and food services: 15%
• Professional services: 10%

CEC client distribution by revenue

• 0 - $500,000: 10%
• $500,000 - $1 million: 30%
• $1 million - $3 million: 30%
• $3 million - $7 million: 20%
• $7 million - $10 million: 10%