Local solutions to global challenges

HOW BUSINESS FOR GOOD IS ADDRESSING ENTREPRENEURIAL INEQUITY— AND CREATING LASTING CHANGES IN LOCAL COMMUNITIES

Marie Campbell developed a passion for flowers while growing up in Jamaica. As an adult, she put down roots in Albany, New York, where she worked as a registered nurse for 33 years, putting four kids through college as a single mom. Campbell always wanted to own her own business, and three years ago, she left nursing to pursue floral design full-time, opening Blooms by Marie. Early on, Campbell’s profit potential was untapped. Then she met the team at Business for Good, a nonprofit that provides resources to people and organizations that are creating positive change in underserved communities in the Albany region. “We are focused on combining financial investment with social impact to create lasting change in local communities,” says Ed Mitzen, cofounder of Business for Good. “We’re trying to level the playing field by identifying entrepreneurs and organizations with significant growth potential and giving them the resources to thrive. Our hope is if we support enough individuals, we can make a real impact across an entire local community.” The team provided Campbell with a five-figure grant, built her a new website, and installed a refrigeration unit in her van so she could transport flowers in the summer. Critically, they connected her with the Albany Medical Center, where Campbell had previously worked, which led to her becoming the go-to florist in the hospital’s gift shop. That simple act tripled her business, and Campbell has started hiring staff. This commitment to ongoing support and community change, one business at a time, helped put Business for Good on Fast Company’s 2023 list of Brands That Matter.

TACKLING INEQUITY

For many entrepreneurs, friends and family provide a key source of capital and business know-how. But not every entrepreneur has access to deep-pocketed and highly experienced friends and family, which makes the job of kickstarting their venture even more difficult. “For many of the folks we work with, there isn’t generational wealth they can tap into,” Mitzen says. “The deck has been really stacked against them.” At Business for Good, that means starting at the local level and doing more than just writing a check. The organization identifies passion-driven, ethical projects run by people who also want to help pay it forward. Once a project has been chosen, Business for Good applies an individualized model, listening closely to what those entrepreneurs need. “Funding is obviously important, but I wouldn’t say it’s the secret sauce for what we provide,” Mitzen says. Business for Good provides other support, including mentorship, help with marketing, business strategy, accounting, and human resources consulting. “We have found, that by combining financial investment with entrepreneurship, we’re getting people up the income curve and creating real change.”

GENERATING A RIPPLE EFFECT

For Mitzen, going above and beyond writing a check is vital. Providing the ongoing support businesses need to thrive— whether it’s shooting a commercial for a local law firm or helping start the Albany Black Chamber of Commerce—helps build an ecosystem where everyone can succeed and support one another. Mitzen hopes those efforts will have a ripple effect on the community and beyond. “We’re focusing on driving change from the local community outward,” he says. “And we hope the pilot program we’ve created in upstate New York is going to serve as a model for other cities across the country.”