Regional Event, Webinar in Greater New York, New York

Could a Flourishing Small Business Ecosystem Be the Key to a More Equitable and Just Recovery?

Greater New York. Presented in partnership with Philanthropy New York.

Small businesses, specifically small businesses owned by people of color who have been disproportionately impacted by the pandemic, are at a critical moment in our City’s history.

Despite the critical role small businesses play in wealth creation, job creation, and the vibrancy of our communities, small business owners of color face institutional and systematic barriers in accessing capital, customers, and services, preventing their businesses from growing and creating sustainability. Thus, there is a pertinent need to support business owners of color through equitable access to capital, technical assistance, and a continuum of services. Doing so will be transformational for the small businesses and for all of us.

Over the first half of 2020, JP Morgan Chase in collaboration with Next Street, Common Future, CGR Consulting and Progress Playbook and a coalition of local stakeholders studied the economic and social context of New York City, the core capital and service needs of small business owners of color, and the gaps present in our small business ecosystem.

The resulting report outlined a better way forward to support the region’s small businesses and included recommendations to: form a funder’s collective to learn more deeply about the targeted needs of small businesses owned by people of color; explore ways to collaborate; and strengthen the small business ecosystem.

Join us and come prepared to engage in an authentic dialogue about why sustained funding of the Small Business Ecosystem is necessary for an equitable and just recovery with funders already successful in the space, those who are just getting started, and others who are unsure of where or even why to begin.

  • The role small business ownership plays in shrinking the racial wealth gap
  • Myths to funding small businesses (vs. funding the ecosystem and intermediaries)
  • How to be an intentional and impactful funder in this arena
  • Moving away from “philanthropic endeavors” to systemic change
  • Ties to job creation and the workforce development
  • Opportunities for collaboration