Hidden Economic Engine: Difference between revisions
(Created page with " sole proprietors as a hidden economic engine that could create a thriving local economy anywhere the percentage of African American businesses are sole proprietors. Buncombe, it’s 93%, Charlotte, 95% last I looked. I want to sell the sustainable, who are b corps ish, on the local economic bonanza that exists right in their home town, if they just get the right kind of capital to the right kind of resilient sole proprietors. Then the increase in sales tax, if we had th...") |
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Sole proprietors are a hidden economic engine that could create a thriving local economy anywhere, because they are everywhere. The percentage of African American businesses are sole proprietors, nationally, is 90%. Buncombe, it’s 93%, Charlotte, 95%. In telling this story to the sustainable business association of North Carolina, many of which are B corps, the story is the low cost local economic bonanza that exists right in their home town. For resilient sole proprietors who’ve been in business for at least three years who are trending toward $100,00 in revenue, a business that could grow enough to pay back seven percent revenue share without the business being constrained, after receiving an equity infusion and two years of runway before they have to start paying it back. It’s rich uncle time that is the innovation. | |||
Want to grow your local economy? Get the right kind of money to local folks who are resilient and are trending toward $100,000 in a business that could pay back revenue share. Justice is a positive externality, growing a thriving local economy is what | Want to grow your local economy? Get the right kind of money to local folks who have been doing it at least three years who are resilient and are trending toward $100,000 in a business that could pay back a standard revenue share. Justice is a positive externality, growing a thriving local economy is what the bonus for the sustainable business council, who want to be good businesses but for whom economic justice is not always a driver. | ||
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Latest revision as of 16:39, 15 January 2024
Sole proprietors are a hidden economic engine that could create a thriving local economy anywhere, because they are everywhere. The percentage of African American businesses are sole proprietors, nationally, is 90%. Buncombe, it’s 93%, Charlotte, 95%. In telling this story to the sustainable business association of North Carolina, many of which are B corps, the story is the low cost local economic bonanza that exists right in their home town. For resilient sole proprietors who’ve been in business for at least three years who are trending toward $100,00 in revenue, a business that could grow enough to pay back seven percent revenue share without the business being constrained, after receiving an equity infusion and two years of runway before they have to start paying it back. It’s rich uncle time that is the innovation.
Want to grow your local economy? Get the right kind of money to local folks who have been doing it at least three years who are resilient and are trending toward $100,000 in a business that could pay back a standard revenue share. Justice is a positive externality, growing a thriving local economy is what the bonus for the sustainable business council, who want to be good businesses but for whom economic justice is not always a driver.