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Inner City Insights

April 2015

 
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A Compass for Navigating the Capital Landscape

Today’s entrepreneurs have more capital options to choose from than ever before, with new financial products and financial providers created each year. While this innovation is exciting, it complicates an already challenging issue for entrepreneurs: How can businesses find the “right” capital to support their growth? Our newest research paper, published with JP Morgan Chase & Co., provides small businesses with a practical guide to navigate the capital landscape. Download the paper, “Financing Growth: A Practical Guide for Small Businesses,” or read the related blog.


What Works for Cities: Brewing the American Dream

When Jim Koch founded Samuel Adams in 1984, he relied on friends for financing and business advice. Over 30 years later, there are more than 3,200 small and independent breweries in the U.S., and craft beer’s market share has doubled in just five years – but breweries, like other types of food and beverage companies, still face an uphill battle in accessing capital. Samuel Adams’ Brewing the American Dream program is working to make it easier for these types of companies to thrive. Read the case study on the program or the related blog on the issues facing small breweries in the U.S.


For Startups, Bootstrapping Growth Is Still Common

Although billion-dollar tech startups make headlines, the reality is that most startups are bootstrapping their growth one day at a time, and most small business owners lack the resources to realize the full potential of their companies. ICIC is a national partner on Goldman Sachs 10,000 Small Businesses, a program that provides small businesses with the education, training and enhanced networks to grow. In a recent blog post, ICIC’s Alexandra Edelstein explores some of the data and the misconceptions about startup growth and shares a success story from a Goldman Sachs 10,000 Small Businesses graduate.


ICIC on the Move

  • On April 17, ICIC’s Senior Vice President Kim Zeuli participated in a conversation with Karen Mills, former Administrator of the U.S. Small Business Administration, at a convening in Washington, D.C. hosted by J.P. Morgan Chase & Co. The convening, attended by several members of the ICIC team, brought together small business clusters in various industries from across the U.S.
  • For the first time, Inner City Capital Connections (ICCC) will bring its intensive executive education program to Boston. To celebrate this milestone, ICCC brought together local partners, stakeholders and civic leaders for a kickoff breakfast on April 16.

Announcements & Events

  • Goldman Sachs 10,000 Small Businesses celebrated the graduation of its third national cohort on April 17 at Babson College. The program brings together small business owners from around the nation for a blend of online and in-person sessions. The deadline for the Fall 2015 cohort has been extended to May 1 – learn more and apply.
  • Inner City Capital Connections is now accepting applications for its 2015 National Program. This free program is designed to drive the growth of inner city businesses by showing them how to tap into sources of capital, educating them on their financial options and providing a forum to connect with investors. This year’s executive education will be held in four cities across the U.S. To learn more and apply or nominate a company, visit our nomination page
  • The 2015 Inner City Economic Summit will be held September 15 and 16 in Detroit, Michigan. “Revisiting the Promise and Problems of Inner City Economic Development” will feature a keynote address by Harvard Business School Professor Michael Porter and will celebrate the release of a special edition of Economic Development Quarterly revisiting Michael Porter’s original research on the competitive advantage of inner cities. Registration will open soon. For more information visit ICIC’s website.
  • ICIC is proud to once again support the U.S. Small Business Administration (SBA)'s National Small Business Week, which will take place from May 4-8. As part of National Small Business Week, the SBA takes the opportunity to highlight the impact of outstanding entrepreneurs, small business owners, and others from all 50 states and U.S. territories. As part of our support, we will focus outreach to inner city small business owners.
  • On May 12, UBS and ICIC will host a workshop in Miami, "How Small Businesses Can Win Big Talent." Hosted by Dr. Seema Pissaris, a successful entrepreneur and a professor at Florida International University's College of Business, this workshop is designed for growing businesses that are looking to expand their teams. Learn more and help us spread the word to Miami-area entrepreneurs!
 
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