The Preparing for Profit (PREP) entrepreneurial training seminar at LaGuardia Community College/CUNY was designed to assist minority and women business owners attain certification by public agencies and win government contracts. In summer 1993, a study was conducted of the effects of the PREP program on the businesses of a random sample of 51 of the 270 participants from 1991 and 1992. Results of the study, based on a 74.5% (n=38) response rate to telephone contacts, included the following: (1) 28.9% of participants reported that they had applied for or received certification as minority or woman-owned businesses since taking part in PREP; (2) almost 60% more respondents bid on government contracts after PREP and more than twice as many attended pre-bid conferences; (3) respondents reported receiving 18 contracts totaling $646,200 from public agencies, with a median contract award of $19,000; (4) 65.8% of respondents reported that they had changed their marketing approach as a result of information received in PREP; (5) over 40% of those who purchased some type of computer equipment reported that information they learned in the PREP course was helpful in making their decisions; and (6) two-thirds of the participants who reported taking another training course besides PREP reported that the PREP course was superior, while the remaining third reported that the quality was the same or could not be compared. The survey instrument is included. (MAB)