Small Business as a Driving Force for Inclusive Growth

Small Business as a Driving Force for Inclusive Growth

info graphic, statistics: America is home to more than 32 million small businesses (fewer than 500 employees), which employ 61 million workers — half of the private-sector workforce. Small businesses account for 99.9 percent of all U.S. businesses.. 97.5 percent of America’s exporters are small businesses, helping connect our economy to the rest of the world.

Summary

The pandemic was devastating to small businesses in general, and minority-owned businesses in particular. Many minority-owned small businesses were already in financially fragile circumstances prior to the COVID-19 lock downs, and throughout the pandemic have faced greater disruptions, and rejection for loans and government relief at significantly higher rates than their white counterparts. (SCORE) To direct our resources where they are needed most, FedEx talked to small business experts and community leaders to understand the shifting needs of en trepreneurs - especially those struggling to keep up with the acceleration of e-commerce as a result of the pandemic.

In response to what we learned, we launched a new E-commerce Learning Lab, supported a new national, remote accelerator for Black women-owned businesses, supported remote business owner learning and networking opportunities, and brought a capital matching conference to our hometown of Memphis. In all, our Global Entrepreneurship work provided training, mentoring, networking, and capital to 45,000 business owners and 565,000 student entrepreneurs around the world in 2021.

Monday, July 11, 2022 - 3:00pm

CAMPAIGN: FedEx | Global Entrepreneurship

CONTENT: Article

Small business as a driving force for inclusive growth

Small businesses are a driving force for economic growth. But not every business owner has access to
resources needed to be successful. Our Global Entrepreneurship work helps strengthen minority- and
women-owned small businesses by connecting them to training, mentoring, networking, and capital.
That’s become especially critical in light of the COVID19 pandemic.

Our approach

TRAINING
Funding skills training for women and minority small business owners interested in growing their business, but who have challenging barriers to success.

NETWORKING
Helping women and minority small business owners connect with each other through networks that provide support and business development.

CAPITAL ACCESS
Investing in programs that help women and minority small business owners access fair and affordable capital to sustain and grow their businesses.

MENTORING
Supporting mentoring programs to help women and minority small business owners get inspired, confident, and on a path to growth and success.

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