Topics for Economic Inclusion
The resources in this section highlights policy, procurement and resources targeted towards the advancement of equitable engagement for Tennessee’s Diverse Business Enterprises (DBEs) seeking certification, in addition to resources other underserved and underrepresented businesses.
Entrepreneurs with Disabilities
In a national study of business owners with disabilities, “91 percent said they enjoyed operating their businesses. 73 percent were satisfied with their businesses, 56 percent said that their businesses have met or exceeded their expectations.” Source: RTC Rural“A larger share of workers with a disability were self-employed in 2019 than were those with no disability (10% versus 5.9 %). Source: U.S Department of Labor” Source: US Dept. of Labor, BLS
Programs, Resources, Certification
Disabilty.gov - federal government website for information on disability programs and services
US Business Leadership Network – helps business drive performance by leveraging disability inclusion in the workplace, supply chain, and marketplace
Vocational Rehabilitation Services , TNDHS - a program providing services to individuals with disabilities to attain self-employment
LGBT Business Enterprises
"If all estimated LGBT-owned businesses in America are projected, their contributions to the economy exceed $1.7 trillion" – NGLCC
Programs, Resources, Certification
- National Gay and Lesbian Chamber of Commerce – advances common business interests and equality; certification
- U.S. SBA LGBT Inclusion – focus on economic empowerment by providing access to programs and services
- StartOut – organization dedicated to creating business leaders by fostering lesbian, gay, bisexual, transgender, and queer entrepreneurs
Minority Business Enterprises
Minority-owned businesses comprise 19 percent of the all the firms, with or without employees, in Tennessee, with a significantly higher number, 50 percent, in the Memphis MSA.
Source: BERO 2016 AR Addendum
Immigrants have started more than half (44 of 87) of America’s startup companies valued at $1 billion or more. Source: National Foundation for American Policy
Programs, Resources, Certification
- Minority Business Development Agency (MBDA) – promotes the growth and global competitiveness of businesses owned and operated by members of the minority and Diaspora communities
- Office of Native American Affairs – seeks to ensure access to the necessary business development and expansion tools through SBA
- TriState Minority Supplier Development Council (TMSDC) - works to build business partnerships between minority businesses (suppliers) and major corporations (purchasers); certifying agency; member-based, non-profit
- SBA 8(a) – business development program helps DBEs compete in the marketplace
Small Business Enterprise
There are 636,842 (99.5%) small businesses in Tennessee. Source: U.S. Small Business Administration.
Programs, Resources, Certification
- Governor's Office of Diversity Business Enterprise - registration, certification, contracting (M/W/SDV/SBE)
- Office of Small Business Advocate (s) - assists in resolution of issues concerning small businesses and state agencies and small businesses and federal agencies
- Small Business Administration (f) - access to capital, contracting program
Women Business Enterprises
Since the recession, the greatest growth in the number of women-owned firms has been seen in the South (Tennessee and South Carolina tied for 6th).
The 10 fastest-growing states since the recession in terms of combined economic clout – combining growth in the number, employment and revenues of women-owned businesses over the past nine years, Tennessee tied with Georgia in 7th place. Source: 2016 State of Women-owned Businesses Report
Programs, Resources, Certification
- American Association of University Women (AAUW) - a national grassroots organization to improve the lives of millions of women and their families
- National Association of Women Business Owners (NAWBO) - dues-based organization representing the interests of all women entrepreneurs across all industries
- WBEC South - member-based, non-profit works to enhance business opportunities between women-owned businesses and corporations through a reputable certification program, education and professional growth opportunities
- Women Impacting Public Policy (WIPP) - nonpartisan organization that educates and advocates on behalf of women-owned businesses
- WOSB Program (SBA) – a federal contracting program
Previously Incarcerated Entrepreneurs
Statistics show that 97% of offenders currently incarcerated in Tennessee will return home one day, but close to half will be rearrested and return to prison or jail within three years of their release. Post-secondary education is a proven and powerful part of reducing recidivism.
Programs, Opportunities and Resources
- Grants – see the grant section under Quick Links; grant dollars related to previously incarcerated typically go to nonprofits and government agencies to provide support services and training to affect recidivism
- Jobs4TN – find employers near you
- Jobs For Felons Hub - online reentry resource portal
- Reentering Your Community – A Handbook – checklists, available services, helpful tools
- Step Ahead: helps job seekers with felony convictions and other criminal charges know their work options
Be inspired – BEST, Rubicon Bakery, Thistle Farms
Rural Businesses
“In some places, county leaders are realizing that instead of relying on outside investments, their strongest assets are the infrastructure, skills, talent and resources already found within their communities. By focusing on strengths, counties are discovering a host of qualities unique to rural places that are key for retaining residents and attracting new growth.” Source: Cultivating a Competitive Advantage, NACO
Programs, Opportunities and Resources
- Governor’s Rural Task Force: resources from a wide range of organizations to advance rural communities and economic development
- HUBZone - helps small businesses gain preferential access to federal procurement opportunities
- Main Street (Tennessee) - provides technical assistance, training and guidance to nationally accredited downtowns
- National Sustainable Agriculture Coalition (NSAC) - an alliance of grassroots organizations that advocates for federal policy reform to advance the sustainability of agriculture, food systems, natural resources, and rural communities
- Opportunity Zones (f) - a federal tax incentive for investors to re-invest capital gains into investing in designated low-income areas
- RUPRI – provides unbiased analysis and information on the challenges, needs and opportunities facing rural America
- Southern Rural Development (SRDC) – a mix of strategies to help rural communities seed entrepreneurs
- USDA Rural Development - work in partnership with the private sector and the community-based organizations to provide financial assistance (not a direct lender)
- UT Institute for Agriculture – information resource for rural business
Youth Entrepreneurship
The Global Entrepreneurship Monitor (GEM) estimates that of the entrepreneurs engaged in starting and running new businesses, 165 million early-stage entrepreneurs are young entrepreneurs (age 18 to 25). Source: GEM 2011 Global Report
Programs, Opportunities and Resources
- DECA - prepares emerging leaders and entrepreneurs in high schools and colleges worldwide
- Future Business Leaders of America (FBLA) - bring business and education together
- Global Entrepreneurship Week - the world’s largest celebration of the innovators and job creators who launch startups
- Junior Achievement (JA) - K-12th grade programs foster work-readiness, entrepreneurship, financial literacy
- Network for Teaching Entrepreneurship (NFTE) - provides programs that inspire young people from low-income communities to stay in school, to recognize business opportunities
- FSA Youth Loans (loan program) – loans of up to $5,000 for eligible individual rural youths, (10-20 yrs. old) to finance income producing, agriculture-related projects
- Scouts - Girl Scouts and Boy Scouts offer various opportunities in entrepreneurship and mentoring
- Virtual Enterprise - an in-school entrepreneurship program and global business simulation
- Young Entrepreneurs - current articles, blogs and other media for teens and young entrepreneurs