America will soon enter its seventh month in a COVID-19 world. The devastation to our economy continues — more than one million are still filing for unemployment on a weekly basis, and recent survey returns show ongoing disruption could lead to one-fifth of small businesses closing in the next year.
Policymaker action remains an essential component to the American recovery, especially as it concerns entrepreneurship. And while tremendous focus is placed on federal efforts, cities and states have been — and must continue to be — leaders.
In this week’s roundup, we highlight commentary and initiatives from across the coalition related to action at the state and local levels.
A Municipal Policy Blueprint for a More Inclusive Path to Prosperity
Prosperity Now notes that “cities represent the forefront of American progress, innovation and prosperity” … but only for some residents. With support from the Kresge Foundation, Prosperity Now released a municipal policy platform aimed at building racial wealth equity. Among the strategies; prioritizing entrepreneurs of color in procurement to build wealth and prosperity over generations.
Cities Should Think Creatively about Entrepreneurship Ecosystem Building
SourceLink’s Dara Macan recently published an article in which she highlighted steps cities can take to make entrepreneurship a core component of their economic development strategies. She discussed how cities are partnering with program experts, specifically highlighting work from Rising Tide Capital to ensure underrepresented populations have seats at the table.
Rapid Recovery Program provides support to N.C. businesses and farms during COVID-19 crisis
As an example of what states are doing to take action, NC Rural Center’s Patrick Woodie penned a recent op-ed on efforts in North Carolina to support small businesses through the pandemic. While he highlighted the successes of the Rapid Recovery Loan Program, he also noted the need for continued support as the crisis persists beyond initial expectations.
Staring Down An Economy Hit Hard By The Pandemic, Midwest Ecosystem Leaders Adapt and Adjust
And finally, with support from the Kauffman Foundation, The Plug shared an important story of resilience, highlighting how Black entrepreneurs in the Midwest are weathering the storm. The article discusses the role local organizations can play in supporting underserved communities, both through the pandemic and beyond.