The Small Business Administration is set to unveil a major initiative aimed at spurring entrepreneurship and business growth in the nation's inner cities, the agency announced this week.

The Initiative for a Competitive Inner City, which will be officially launched next week, will focus on raising entrepreneurial skills in under-served communities, while improving access to startup capital and government contracting for inner-city and minority-owned businesses.

SBA Administrator Steven Preston is expected to launch the program at the Inner City Economic Forum in Philadelphia on Oct. 18.