In times of crisis, entrepreneurship rates surge as folks work to build sustainable livelihoods and support their local community. Hurricane Katrina and the 2008 financial crisis are past examples (The Data Center); COVID-19 is today. Fund 17 is growing our capacity to provide free advising, education, and loan assistance to more under-resourced entrepreneurs in New Orleans as they start and grow their businesses. *We have permission from featured beneficiaries to use their full real names.
About 60% of businesses in New Orleans are owned by people of color. These businesses consistently collect only 4% of receipts. Black and low-income entrepreneurs often operate under-formalized businesses leading them to be excluded from accessing resources. The COVID-19 pandemic has further devastated communities around the world, caused record job losses, and has highlighted and exacerbated racial and economic disparities in New Orleans.
Fund 17 provides free and radically accessible business advising, workshops, and capital access assistance to 500+ entrepreneurs since we were founded in 2012. We work with micro-entrepreneurs making under $150k in revenue, prioritizing Black and low-income entrepreneurs who have historically been denied resources and are at risk of displacement. We provide 1on1 expert advising to support entrepreneurs with legal filings, marketing, finance, and strategy to achieve their goals.
When we provide an entrepreneur with the tools, education, and resources to organize and grow their business, they are empowered to generate a sustainable income, contribute to a resilient and diverse local community, strengthen the local economy, preserve New Orleans' cultural heritage, and ultimately combat economic inequity.
This project has provided additional documentation in a PDF file (projdoc.pdf).
