19.08.2022 13:05

Building a Small Business Ecosystem Across the Nation

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Outcomes from the Build from Within Alliance Convening

ANCHORAGE, Alaska, Aug. 19, 2022 /PRNewswire/ -- Representatives from 12 states and 25 member organizations of the Build from Within Alliance recently concluded their annual meeting in Anchorage, Alaska. The goal of the gathering was to discuss the needs faced by communities across the nation and to work on plans to combat these issues, particularly to focus on developing strong eco-systems within inner-city low-income neighborhoods.

Representatives from 12 states and 25 member organizations of the Build from Within Alliance recently concluded their annual meeting in Anchorage, Alaska. The goal of the gathering was to discuss the needs faced by communities across the nation and to work on plans to combat these issues, particularly to focus on developing strong eco-systems within inner-city low-income neighborhoods.

Build From Within Alliance is a national network of community development organizations supporting local entrepreneurs.

The Build from Within Alliance is a national network of community development organizations supporting local entrepreneurship in neighborhoods across the country. It works in communities that show visible and invisible signs of systemic disinvestment, connecting entrepreneurs to opportunities from which they are often excluded.

The Alliance was launched by the Neighborhood Development Center (NDC) across multiple cities and organizations to adopt, adapt and implement the NDC's approach of place-based entrepreneur-focused economic development.

"This Convening is a celebration and reminder about the movement for social, economic, and racial equity for America's entrepreneurs," says Renay Dossman, president of the Neighborhood Development Center. "This work will take all of us. We are all united in solidarity to support marginalized communities across the country by sharing ideas, strategies, and best practices that will help our neighborhoods and people thrive."

Each member of the Alliance brought their expertise and experience to the table and together, effective strategies can be developed to target needs such as: business training, risk-tolerant lending, and real estate activities.

"Each member comes from a different part of the country, yet they have all seen similar barriers," says Mihailo "Mike" Temali, founder of the Neighborhood Development Center. "The Convening allows us to share tools and understandings for success through training, lending, and real-estate activities. It is important to share our experiences and resources across the country for every community."

Participating organizations included:

  • Alaska - Community Land Trust (Anchorage)
  • Arkansas - Canopy NWA (Fayetteville)
  • Colorado - CEDS Finance (Aurora); The Beacon Fund and Montbello Organizing Committee (Denver)
  • California - Canopy NWA (Berkeley); Central Valley Immigration Integration Collaborative (Fresno)
  • Delaware - West End Neighborhood House (Wilmington)
  • Florida - Aire Ventures, Opportunity Connect, The Glover Disruptive, and Allegany Franciscan Ministries (Miami)
  • Louisiana - New Orleans Business Alliance and Fund 17 (New Orleans)
  • Michigan - ProsperUs Detroit (Detroit)
  • Minnesota - Heritage Road Consulting LLC (Brainerd); Initiative Foundation (Little Falls); Mille Lacs Cooperate Ventures (Onamia); Neighborhood Development Center (Minneapolis/St. Paul, Minn.)
  • New York - Center State CEO (Syracuse)
  • Texas - Change Agent Consultancies (Houston)
  • Pennsylvania - The Welcoming Center, Philadelphia Commerce Department, Neighborhood Progress Fund, and The Merchants Fund (Philadelphia)

In March of 2020, the Wilder Research found that the small businesses within the Build From Within Alliance, spent about $1.5 million annually on businesses expenses (not including rent and payroll). Almost 60% of that was spent within the same neighborhood as the business. Furthermore, 74% percent of business owners contributed their time, money, or in-kind support to neighborhood events and activities in the previous year for a totaled valued contribution of $267,200. In fact, 96% of all owners said they serve as role models for youth and/or young adults in their communities, and about half said they serve as leaders in groups or organizations in their neighborhood or ethnic community

About Neighborhood Development Center:

NDC is a non-profit, community development financial institution that believes residents of low-income, inner-city neighborhoods have entrepreneurial talent and energy that represent powerful assets available to help revitalize communities. NDC provides entrepreneur training, small business lending (and Sharia-acceptable financing), business services and real estate incubators that help our clients start and grow vital small businesses. For more information, visit www.ndc-mn.org.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/building-a-small-business-ecosystem-across-the-nation-301608981.html

SOURCE Neighborhood Development Center

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