Under-Resourced Entrepreneurs

Social and economic injury that continues to the present day has resulted in many entrepreneurs being under-resourced and unable to start, operate, or grow a business. The US federal government provides access through the Small Business Act to special resources, services, and financing opportunities for under-resourced entrepreneurs and businesses owners.

In general, women and members of the racial/ethnic minority groups are presumed to be under-resourced and may be eligible for additional support from state and federal governments.

According to the Small Business Act (15 USC 637), under-resourced entrepreneurs generally experience the following:

  • Racial/ethnic prejudice or cultural bias because of their identity as a member of a group that is beyond their control
  • Reduced or impaired ability to compete in business because of worse capital and credit opportunities as compared to others who have not been subject to social and economic injury

Minority Business Assistance Center (MBAC) is the top statewide entrepreneurial support organization for under-resourced businesses and entrepreneurs. MBAC is part of the Ohio Development Services Agency (ODSA) and offers the following services:

Small Business Development Center (SBDC) is also part of the State of Ohio's support for small businesses and they are well equipped to assist and support under-resourced businesses with a variety of resources and services.

Local governments in Franklin County also provide services to under-resourced businesses to ensure inclusion and diversity in competing for local government contracts:

The following list provides details on many other local, state, and national resources for under-resourced businesses and entrepreneurs!

Checklist

  • Discover government resources for under-resourced businesses and entrepreneurs
  • Identify useful resources for your business

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Additional Resources

Support for Under-Resourced Entrepreneurs

General Resources

  • Accion (Nonprofit) - Nonprofit lending network offering financing to small businesses, including loans for under-resourced entrepreneurs, food businesses, and green businesses
  • Kiva Columbus (Nonprofit) - Nonprofit lender focused on financially excluded and under-resourced entrepreneurs in Central Ohio
  • Ohio Department of Administrative Services (ODAS) (State Government) - Offers certification for socially and economically under-resourced businesses and minority businesses, which helps those businesses in compete for State Government contracts
  • Ohio Development Services Agency (ODSA) - Minority Business Development Division (MBDD) (State Government) - Supports the growth and sustainability of small, minority, and under-resourced businesses through technical assistance, access to capital, and connections to business opportunities
  • SBA Business Guide - 8(a) Business Development Program (Federal Government) - Training on the 8(a) federal program, which helps provide a level playing field for small businesses owned by socially and economically under-resourced individuals or entities
  • USDA New Farmers (Federal Government) - Resources for new farmers, including women, youth, and veterans
  • USDA Office of Small and Disadvantaged Business Utilization (Federal Government) - List of USDA programs available for small and under-resourced businesses

Resources for Specific Under-Resourced Groups

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