In 1980 only 4% of Minnesotans were people of color. Today, that figure is 17%, and by 2040 it will be 29%. The Prosperity Initiative has the vision of promoting an inclusive entrepreneurial ecosystem in southern Minnesota.
There are barriers that minority-owned businesses in our region face, including lack of access to capital and alternative financing options, feeling disadvantaged by systems, such as credit history, and a lack of community support and resources. The Prosperity Initiative bridges that gap, providing coaching to minority-owned businesses to work on their strengths and weaknesses.
The resources include:
- Training to cover Strengths Assessment, Business Benchmarking, Asset Mapping, Marketing, Finance, and Goal Setting.
- 6 months of business coaching/mentoring
- Monthly peer network meetings
- Access to specialized resources and experts