Building a More Inclusive, Resilient Small Business Ecosystem in San Antonio
Research Report by Next Street and Common Future
Executive Summary
San Antonio is one of the fastest-growing and most culturally diverse cities in the United States, yet significant disparities persist for entrepreneurs and small business owners of color. The San Antonio Small Business Ecosystem Assessment examines the barriers limiting equitable business growth across the region and outlines opportunities to create a more inclusive and resilient local economy.
The report explores how gaps in access to capital, business support services, ecosystem coordination, and customer networks continue to impact Black- and Hispanic-owned businesses disproportionately. The research also highlights how the COVID-19 pandemic intensified these long-standing inequities.
The report presents a path forward focused on strengthening San Antonio’s small business ecosystem through more coordinated support systems, equitable capital access, stronger community-based partnerships, and long-term investments in business resiliency and growth.
Key Takeaways
Significant capital gaps remain: San Antonio faces an estimated $8.3 billion unmet annual small business capital demand, with limited lending activity in predominantly Hispanic and Black neighborhoods.
Business ownership disparities persist: Hispanic and Black residents represent a majority of the population but own disproportionately fewer employer businesses and generate lower average revenues than White-owned firms.
COVID-19 intensified inequities: Businesses owned by people of color were disproportionately represented in industries hardest hit by the pandemic, including food services, retail, and personal services.
Ecosystem coordination is fragmented: The report found limited collaboration and alignment across business support organizations, capital providers, and public-sector stakeholders, making the ecosystem difficult for entrepreneurs to navigate.
Localized, culturally competent support is critical: Business owners emphasized the need for more neighborhood-based services, multilingual support, trusted networks, and growth-oriented technical assistance.
Core Areas of Opportunity
The report identifies four key pillars needed to strengthen San Antonio’s small business ecosystem:
Ecosystem Coordination: Build stronger coalitions between small businesses, service providers, capital partners, government agencies, and community organizations to improve alignment and impact.
Access to Flexible Capital: Expand access to responsible lending, flexible financing products, and growth capital for underserved entrepreneurs and small businesses.
Sustainability & Resiliency: Support long-term business stability through coordinated technical assistance, operational support, and stronger local partnerships.
Access & Networks: Increase access to procurement opportunities, peer networks, mentorship, and customer acquisition channels for entrepreneurs of color.
Download the Full Report
Gain deeper insights into San Antonio’s small business landscape, ecosystem gaps, and actionable recommendations for creating a more inclusive economy.