"In places where inclusion is part of the infrastructure of their economy-supply chains, procurement processes, capital access, or business ownership-people thrive. Inclusive economies create more resilience by expanding the base of potential business owners who can build, own, innovate, and hire. They allow more opportunities for homeownership and investing in the longevity of communities. As our economy becomes increasingly stratified and volatile, we need as much resiliency as we can get."
"Consider Memphis, where Black residents are a majority of the population but historically own only a fraction of local businesses. City and local partners supported the creation of Contractor's University, a cohort model that equips small firms-many led by entrepreneurs of color-to bid on and win city contracts. Within months, participating firms converted training into new contracts and rising revenues. Contractor's University was able to take one of the largest barriers to business success-accessing procurement dollars-and turned it into a growth platform."
Economic inclusion underpins resilient, growing economies and sustainable returns. Inclusion as infrastructure — in supply chains, procurement, capital access, and business ownership — expands the pool of entrepreneurs who can build, innovate, and hire, increasing resilience and opportunities for homeownership and community investment. Prioritizing inclusion reduces long-term risk, deepens trust, and reveals new economic opportunities, while neglecting inclusion drives capital, talent, and residents away. Targeted programs and inclusive capital strategies can convert barriers into growth platforms, enable small and immigrant-owned businesses to secure contracts and preserve affordable commercial space, strengthening local economic longevity.
Read at Fast Company
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