Small businesses are the heart of our local economy
In New York City alone, more than 227,000 small businesses employ 1.6M workers, creating jobs, opportunity, and wealth.
An estimated 68% of revenue generated by small businesses stays local, circulating within the community to the benefit of all.
And yet, entrepreneurs of color are sorely lacking in this count. Black and Latine business owners account for 3% and 7% of the total, respectively, while making up 24% and 29% of the population.
We know that disparities for Black, Latine, Asian & Pacific Islander, Indigenous and other historically excluded entrepreneurs are deep and persistent. A capital gap of $45 billion annually exists for small business entrepreneurs. This gap is magnified for entrepreneurs of color, for whom equitable access to social, financial, and knowledge capital is often out of reach.
A Collaborative Effort for Collective Impact
The NY Small Business Funders Collective (SBFC) is a group of philanthropic entities coming together to strengthen the local small business ecosystem across the New York region. Members of the Collective share the belief that entrepreneurship is a powerful lever for innovation, community vibrancy, and economic development. Through pooled grantmaking, the Collective aims to expand opportunities for Black, Latine, Asian and Pacific Islander, Indigenous and other historically excluded entrepreneurs to thrive.
Our Partners
What We Do...
The NY Small Business Funders Collective (SBFC) supports historically excluded entrepreneurs through client-centered intermediaries. We remain broad in approach, with targeted Requests for Proposals that employ different tactics to reach specific ends while remaining nimble and responsive to changing small business needs.
Doing Business Together
Our Supplier Diversity Partnership grant opportunity aims to reveal and fund innovative solutions in procurement that diversify supplier networks in the city, increase supply chain localization, and to increase the number of historically excluded small business owners seeking and securing contracts with purchasers and anchor institutions in NYC.
Cohort Two Grantees include:
Bedford Stuyvesant Restoration Corp., partnering with Brooklyn Communities Collaborative (and RiseBoro, Mangrove, Pixie Scout, Brooklyn Packers)
Evergreen, partnering with the Southwest Brooklyn Industrial Development Corporation (SBIDC) and the Business Outreach Center (BOC)
Hot Bread Kitchen, partnering with Mangrove Flatbush Central
TruFund, partnering with New York New Jersey Minority Supplier Development Council
The Working World/Seed Commons, partnering with NYC NOWC
We look forward to featuring more about these partnerships over the next year. Stay tuned!
Contact Us
For more information on how to join the Collective and help transform the New York small business landscape, fill out the contact form below:
NY Small Business Funders Collective
Project Management provided by:
ImpactFull, Inc.
Kristine Michie, Managing Partner
kristine@impactfullinc.com (for funder inquiries) inquiries@nysmallbusinessfunders.org (for grant application inquiries)
www.impactfullinc.com
Fiscal Sponsorship provided by:
Philanthropy New York www.philanthropynewyork.org