Leaders in philanthropy increasingly recognize the role of business in advancing their objectives. To date, the focus of most efforts to engage business has been primarily on large companies. By contrast, the role of small business in creating healthy, equitable communities has generally not been explored.
The Richmond Fed’s recent report, Community Development Financial Institutions (CDFIs) by the Numbers, provides findings from the 2019 Federal Reserve CDFI Survey. CDFIs are specialized financial institutions operating in markets that are underserved by traditional financial institutions.
Small businesses show strength in self-employment increases, proprietors’ income gains, job creation advances and births staying above deaths. Loan delinquency rates remain low, but small business loan demand is waning.
The nonprofit sector is a powerful economic engine in California, especially when it comes to employment and wages. The nonprofit industry employs more than 1.2 million Californians and, in 2016, paid a total of $74 Billion in wages.
Agri-FoodTech is an emerging category within the food startup universe with enormous potential to impact critical issues from climate change to food insecurity. More and more venture capital is being invested in the sector, but it’s not reaching one of the leading groups of entrepreneurs—female founders.
New Census figures released show rising income inequality across the state and millions of California residents who are struggling to get by on extremely low incomes, while higher-income households experienced more income growth. Even as the latest figures also show there is a decline in the official poverty rate in California, these findings underscore the need for policymakers to ensure that the benefits of California’s strong economy and recent economic growth are shared among all Californians.
There are an estimated 30.7 million small businesses (defined as those with fewer than 500 employees) in the United States, employing approximately 60 million people.1 Small firms make up 99 percent of U.S. employers, and these businesses create 66 percent of new private-sector jobs.2 Small businesses, like their larger counterparts, have not been shielded from the increasing cost of health care. Without advantages such as a larger pool of insured employees, more bargaining power with health insurance companies, and the benefit of full-time human resources personnel, small-business owners are often left with little recourse and few options when a health insurance carrier hikes costs.
Better-qualified black and Hispanic testers who shopped for small business loans at Los Angeles area bank branches were treated worse than less qualified white testers, a new study found.
The study, from the National Community Reinvestment Coalition (NCRC), also found steep declines in government-backed lending to black business owners between 2008 and 2016.
This report explores ways business ownership can serve as a wealth-building tool for women, explains the systemic barriers impeding women’s ability to build wealth through business ownership, and suggests ways grant makers, policy advocates, and practitioners can intentionally promote wealth-building by entrepreneurial women through business ownership.
California’s economy in 2018 ranks as the fifth largest in the world – larger than the UK, India, France, Brazil, Italy, Canada, Korea, and Russia.