How we approached the assessment
As part of an initiative led by United Way of Greater Philadelphia and Southern New Jersey, the City of Philadelphia’s Department of Commerce, and PIDC, Next Street partnered with Econsult Solutions Inc., SourceLink, and Urbane to assess the small business landscape in Philadelphia and identify ways to create a more equitable entrepreneurship ecosystem.
Throughout 2020, our combined team conducted in-depth quantitative research on the state of the small business ecosystem and collected insights from nearly 250 small business owners and 79 capital and business support organizations, with the goal of building a more inclusive and holistic entrepreneurship ecosystem that helps small business owners of color to thrive.
The path forward
The research culminated in a set of recommendations across access to capital, market opportunities, trusted services, and ecosystem infrastructure that will help create a more equitable entrepreneurship ecosystem. This assessment has also birthed a dynamic experience called Built By Philly that will soon feature additional local small business narratives, resources, and insights from the research.