The Community team’s vision is to support a just, inclusive, and thriving Bay Area economy. Despite this region being one of the largest economies in the world, many community members are struggling to survive.
Eliminating Barriers and Expanding Access to Entrepreneurs
The Chan Zuckerberg Initiative is committed to helping eliminate the structural, racial and socio-economic barriers that often prevent aspiring entrepreneurs from owning a business. CZI is launching Inclusive Entrepreneurship, a $3 million program benefiting organizations that support entrepreneurship across the Bay Area.
Opportunity for Inclusive Entrepreneurship
The Community team believes a person’s zip code should not limit their resources or predict their outcomes, which sits at the foundation of our work, and why we have chosen to focus on community-rooted entrepreneurs and small businesses.
Entrepreneurs that start businesses rooted in their communities are part of the social fabric that drives economic mobility across the United States. While these neighborhood businesses are individually small, they are collectively important. Research shows that businesses with fewer than 20 employees comprise over 85 percent of all businesses in the United States, employing over 30 million people. BIPOC (Black, Indigenous, and people of color) entrepreneurs are more likely to consider their own neighborhood as the site of most of their business transactions, according to the Brookings Institution. Entrepreneurs who are rooted in their communities tend to be more civically engaged, hire locally, and support local charities, resulting in better overall neighborhood welfare.