Like many inequities exposed by the pandemic, small businesses owned by people of color have struggled and failed at far higher rates than those of their white peers during the last 12 months. They often started out with less cushion, and they were blocked at every turn from getting fair access to government and other relief. These injustices and imbalances were not new, but they were harder to ignore, and the consequences more dire. The only silver lining was that the crisis turned a light on the long-standing gaps, hurdles, and prejudices faced by underserved entrepreneurs in an economy that is rigged against them.
And with this light shining, more and more philanthropists, foundations, and corporations took notice and added small business support to their giving portfolio during 2020. The next problem was that many did know what that meant, how to execute, or how to avoid repeating or reinforcing institutional biases. In one telling statistic, while more than 300 corporations pledging $66B in support of communities of color last year, only $250M has been deployed from 70 companies.
After JP Morgan Chase funded a (pre-pandemic) study about the needs of entrepreneurs of color in late 2019, a small group of funders have now expressed interest in exploring solutions. Further informed by the crucible of COVID-19, we welcome you to join this discussion to set an agenda for learning, advocacy, and resource deployment as we identify how we can work together as an emerging funder collective to support NYC Small Business.
Please join Next Street, Philanthropy New York and Asset Funders Network for a roundtable discussion as we explore how to support the small business ecosystem in the Greater New York region.
- Current investments that support small businesses owned by women and people of color
- Key learnings and strategies from our evolving strategies
- Data, data and data. With limited data informing us about the needs of entrepreneurs of color, how are we informing our data-driven investments?
- How to align to engage and strengthen our support of small business recovery - How can collaboration and coordination among funders add value to our work?
- How to leverage the moment, with increased public and private investments, to maximize systemic change
Corporate and all interested funders. What to expect: A roundtable discussion.
9:00 AM - 10:30 AM Program
Members: To register yourself and/or a colleague at your organization, please log in and click the Register Now link above. (no fee)
Members of Asset Funders Network and NYC Small Business Funders Collective: Please click here to register directly through AFN. (no fee)
Non-Member Funders: Please email email@example.com. ($150 fee)
Registration is required by June 14th. Log-in details will be emailed to you a day before the session.
Please note: To ensure fairness among our members, we reserve the right to limit the number of attendees per organization for select professional development programs.
Please email firstname.lastname@example.org with any questions.