Small businesses are the heart of our local economy
In New York City alone, more than 227k small businesses employ 1.6M workers, creating jobs, opportunity, and wealth.
An estimated 68% of revenue generated by local businesses stays within the community through employment of community residents.
And yet, entrepreneurs of color are sorely lacking in this count. Black and Latinx 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, Latinx, Asian & Pacific Islander and Indigenous 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 create opportunities for Black, Latinx, API, and Indigenous entrepreneurs to close the racial wealth gap.
Our Partners
What We Do...
The NY Small Business Funders Collective (SBFC) delivers support to Black, Latinx, API, and Indigenous entrepreneurs through client-centered intermediaries. We remain broad in approach, with targeted Requests for Proposals that employ different tactics to reach highly specific groups and to remain nimble and responsive to changing small business needs.
Open Applications…
Inaugural Request for Proposals Opens September 7, 2022 - Check Back For Details!
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
www.impactfullinc.com
Fiscal Sponsorship provided by:
Philanthropy New York
www.philanthropynewyork.org