CDFIs are Building a Stronger Economy Through Small Businesses

In every town across America, there's a corner store, a family-run diner, or a small tech startup tucked into a co-working space established by someone determined to pursue their passion, no matter how little support they had to start with.

Take the story of a mother and daughter duo who started with a folding table and buckets of blooms for sale from the local farmer’s market in Detroit. After years of hard work, they own a vibrant flower shop proving that when opportunity meets community investment, dreams can uplift communities.

Multiply that story by millions and you get the heartbeat of the U.S. economy. 

Small businesses make up 99.9% of all U.S. firms and employ nearly half of the nation’s workforce. With 500 employees or fewer, small businesses have been a powerhouse of job creation. Between 1995 and 2023, they have generated 20.2 million net new jobs, nearly 7 million more than large businesses over the same period. In 2021 alone, these enterprises contributed over $16.2 trillion in revenue, underscoring their critical role in driving economic growth and stability across the country.

Read the full article from Forbes here.