word on the street | november 2018
new on the street
Here’s How CDFIs Can Become New-Age Financial Institutions
For more than 40 years, CDFIs have led the charge in how impact dollars reach the people and places that need it most. Many within the CDFI industry will tell you that they are the original impact investors. Next Street Founder and Chairman Tim Ferguson believes that CDFIs now have an opportunity to be the next wave of alternative financial institutions, on par with hedge funds and alternative asset managers. Here’s what he believes they’ll need to do to seize the moment.
The City of Columbus Department of Development has selected Next Street to provide a comprehensive assessment and study of opportunities for entrepreneurship-based economic development as part of its ongoing efforts to reimagine small business support within the City of Columbus. We will embark on a comprehensive engagement process with various stakeholders, and will review and evaluate current small business programs offered by the City and others to identify gaps in services and programs. The findings from the assessment will be used to develop a policy and budget framework and inform a small business agenda as an implementation plan under phase two of the process.
Client Spotlight: Bush Foundation
The Bush Foundation encourages individuals and organizations to think bigger and think differently about what is possible in communities across Minnesota, North Dakota, South Dakota, and the 23 Native nations that share the same geography.
Next Street helped the Bush Foundation explore opportunities to provide capital and other support to social businesses that are committed to both financial returns and social problem solving. Our research supported two major strategies, including a seed fund and a fellowship program. Learn more.
CUMU 2018 Conference
The Next Street team attended the Coalition of Urban and Metropolitan Universities (CUMU) Conference, for which over 400 academics, practitioners, thought leaders, philanthropists, and community engagement pioneers in the field of higher education gathered in Chicago. Next Street Partner Charisse Conanan Johnson presented to attendees on how to Develop a Playbook for Inclusive Community Investment.
American Banker Small Biz: Banking Conference
Next Street is excited to be attending the Small Biz: Banking Conference this week for the first time. We’re eager to meet with forward thinking bankers, alternative lenders, and others that care about growing small businesses. Let us know if you’ll be there too!