In a recent article, Forbes reports that the backbone of a city's revitalization is the small business ecosystem. They state that small businesses such as coffee shops, grocery stores, and more are "the connective tissue that holds communities together."
Helping small businesses recover (and encouraging new entrepreneurs) isn’t just about making sure office workers get their coffees and happy hours. A pre-pandemic report by JP Morgan noted that small business growth in inner cities is critical to addressing unemployment. “The Big Impact of Small Businesses on Urban Job Creation: Evidence from Five Cities” found that in four of the five cities studied (Chicago, Dallas, Detroit, Los Angeles, and Washington, D.C.), small businesses created the most jobs.
Read the full article here.