Everyone, irrespective of color, gender, and race is full of ideas, you just need to give them their voice.
Entrepreneurship is filled with constant hurdles, especially for females. However, community-driven solutions in this regard always help to build equal opportunities for everyone. Inclusive Entrepreneurship is all about thinking on a society level rather than an individual level. you have to take into account everything present in your surroundings. Let us explore why communities and their needs are so important to make entrepreneurship inclusive.
Community Engagement as a key
Communities are what make or break your business. The place where you start your business and its residents are very crucial in terms of expanding market potential and business establishment. We can take the example of several community-based organizations that have taken help from their very own people to sustain a business or lead a cause.
Access to capital as a problem
In the US, access to capital is not the same for everyone as the whites have more financial privileges than those of color. Census data by the US gives evidence of black’s wealth being only 7% of white. This gives us the idea of why minority entrepreneurship is the need of the hour. Michigan Women Forward and Prosper US are examples of organizations that help minorities in microfinancing.
Breakaway from entrepreneurial isolation
Finding like-minded people in your community, grouping with them, and fitting in, all seem right when it comes to breaking away from being a loner. It is because community-building not only positively affects your business but also builds up your mental health. It is time to team up with your community, especially the minorities, give them their snatched voice, and see the magic happen.
Technical Knowledge as value
Assistance to entrepreneurship in the form of seed capital, good mentorship, working space, and professional expertise comes from community-based organizations and that is all they need for a good start-up. This technical knowledge becomes an asset for your new business and keeps you on pace for the future.
Fulfilling your community needs should be your topmost priority if you want to set yourself fit in entrepreneurship.