Building a More Inclusive and Resilient Small Business Economy
Executive Summary
Indianapolis has a strong foundation of entrepreneurs, business support organizations, and civic leadership. Yet significant disparities in business ownership, access to capital, and economic opportunity continue to impact entrepreneurs of color. This assessment examines the barriers facing small businesses and identifies strategies to build a more equitable, coordinated, and growth-oriented ecosystem.
Key Findings
Business Ownership and Revenue Gaps Persist: Black and Latino entrepreneurs remain underrepresented among business owners and continue to face barriers to growth, revenue generation, and wealth creation.
Access to Capital Remains a Challenge: Many entrepreneurs struggle to secure small-dollar loans, growth capital, equity investment, and flexible financing, particularly in Black and Latino communities.
COVID-19 Exposed Existing Inequities: Businesses owned by people of color were disproportionately impacted by the pandemic, highlighting the need for stronger business resilience and recovery strategies.
Business Support Resources Are Difficult to Navigate: While Indianapolis has a robust network of support organizations, entrepreneurs often struggle to identify and access available resources due to limited coordination and referral systems.
Ecosystem Coordination Can Be Strengthened: Greater collaboration among business support organizations, capital providers, corporations, philanthropy, and government agencies can improve outcomes and expand opportunity for entrepreneurs.
Strategic Priorities
The report identifies four priorities to strengthen Indianapolis' small business ecosystem:
Continuum of Capital: Expand access to responsible lending, growth capital, and alternative financing solutions.
Recovery & Resilience: Support long-term business sustainability through stabilization services, financial management support, and operational resilience planning.
Equitable Access to Networks: Increase access to procurement opportunities, mentorship, business networks, and customer connections.
Ecosystem Building: Strengthen coordination, shared accountability, referral systems, and collaboration across ecosystem stakeholders.
The Opportunity
Indianapolis has an opportunity to create a more inclusive economy by improving access to capital, strengthening ecosystem coordination, and expanding pathways to growth for underserved entrepreneurs and small businesses.
Download the Full Report
Explore the complete assessment for deeper insights into capital access, ecosystem gaps, and strategies to support equitable economic growth in Indianapolis.