ACER
What has been most instrumental to your progress?
Micro-grants for Business relief:
We were able to redistribute funds in the form of micro-grants at a time in the pandemic that was critical to preserving our local BIPOC businesses. Many were facing evictions, due to such predatory rental practices of commercial landlords. We had over 200 businesses apply for resources and were able to redistribute $48,500 to fund 54 businesses.
We were able to redistribute funds in the form of micro-grants at a time in the pandemic that was critical to preserving our local BIPOC businesses. Many were facing evictions, due to such predatory rental practices of commercial landlords. We had over 200 businesses apply for resources and were able to redistribute $48,500 to fund 54 businesses.
BIPOC Business Research Data:
In the midst of the pandemic were able to engage 289 businesses through the Micro-grants for Business Relief funds. In total, the survey received 158 responses from 133 unique businesses. The average age of a business was 3.6 years and the average number of employees of a business was 2.4 people.
In the midst of the pandemic were able to engage 289 businesses through the Micro-grants for Business Relief funds. In total, the survey received 158 responses from 133 unique businesses. The average age of a business was 3.6 years and the average number of employees of a business was 2.4 people.
Leveraging the preliminary survey data, and micro-grant funding:
Being funded to do business research has positioned the work of the Economic and Community Development program of the organization to have data that helped in establishing the Business Resource Collective (BRC). The wins the collective achieved late 2020 into 2021 were supported due to the real-time information that was being received through the survey. In order to be impactful in policy change, for us, the solutions come from the community experts, those most impacted. As a result of being able to come together, and ACER having such data to support our work, provided a framework for the collective, we recently created a Business development package to present how the State's ARP funds should be utilized to support the BIPOC business ecosystem. In doing this work, we were able to create language to define what it means to be a BIPOC small business, and what are the needs of the business in this current economic landscape.
Being funded to do business research has positioned the work of the Economic and Community Development program of the organization to have data that helped in establishing the Business Resource Collective (BRC). The wins the collective achieved late 2020 into 2021 were supported due to the real-time information that was being received through the survey. In order to be impactful in policy change, for us, the solutions come from the community experts, those most impacted. As a result of being able to come together, and ACER having such data to support our work, provided a framework for the collective, we recently created a Business development package to present how the State's ARP funds should be utilized to support the BIPOC business ecosystem. In doing this work, we were able to create language to define what it means to be a BIPOC small business, and what are the needs of the business in this current economic landscape.
Key lessons learned
The importance of data. It is something early on in creating the Economic and Community Development programs we recognized as a huge need. As we did more work along the Blue Line Extension (BLE) it became more and more apparent that data on BIPOC businesses in the state was almost nonexistent. Most of the GIS maps, and market research studies, only factored in the building owners, and not the businesses renting space in those buildings. Cities along the line realized that they had no idea about many of the businesses that existed, usually only learned of these businesses if permits and licenses were needed from the city. Also, the disconnection, or lack of education on business registration and entity structure (i.e LLC, inc. or S corp), and how this too is/was a barrier for BIPOC business, at times for needing access to unconventional captial. Going into this grant these are the key things we looked for the data to provide a clear story. BIPOC businesses are here, they need to be more visible, and need to be factored into the ecosystem to address many gaps in the BIPOC community.
Definition and language for small businesses vs. micro-businesses, and minority businesses. In order to address the issues of anyone, anything, or area, you have to define what that is. The language in the ecosystem for what a small business is, largely impacts how businesses are funded. This too is a barrier, in establishing eligibility, criteria, and acceptable documentation to access resources for BIPOC businesses. Having language(i.e minority) business doesn't address BIPOC business being included in funding, and often makes it more competitive.