BUSINESS AT THE HEART OF THE COMMUNITY

Memphis has long been a major player in the culture of the American south and in the civil rights movement. As it approaches its bicentenary year, residents and businesses are honoring that inspiring legacy by working together to increase social inclusion and raise wellbeing for all citizens of the city, whatever their background.

“What makes Memphis unique is that we are an extraordinarily authentic city with a real tangible soul,” says Jim Strickland, the Mayor of Memphis. “It’s in our people, it’s in our architecture, in our music, in our history and it’s unlike any city in the world. That’s what makes Memphis so great.”

Working closely with the city authorities, companies in Memphis are prioritizing inclusive and equitable development that benefits all sections of the city’s population, in particular minority and women-owned business enterprises (MWBE). Strickland won the mayoral election of 2015 on a platform of equity, diversity and inclusion, and since taking office has increased the proportion of city contracting with MWBES from about 12% to nearly 22%.

“Equitable economic development is something we are all committed to across the city,” says Joann Lewis-massey of the Mayor’s Office of Business Diversity and Compliance, “Equitable economic development affects us all, rich, poor, black, white, yellow, whatever color, whatever age. Mayor Strickland has created hope which is seeping into every part of the community. He has turned economic development into something that concerns everybody, not just the few.”

In tandem with the Mayor’s initiatives, businesses and organizations of all sizes in Memphis are making a major contribution to the city’s drive to increase economic inclusion and create opportunities to all Memphians. Leading by example, the chamber of commerce has set its own goal for members to increase their business with MWBES and with locally owned small enterprises.

“In 2017, the growth of local, small, minority & women-owned businesses became such a priority for our organization, that we made it part of our goals and objectives,” says Phil Trenary, President and CEO of the Greater Memphis Chamber. “The Chamber wants to ensure that it is easy and accessible for any business to succeed in Memphis.”

At Memphis Airport, President and CEO Scott Brockman has set ambitious targets for purchasing goods and services from minorities. The airport authority also provides extensive technical and development assistance to MWBES, such as certification, education, training and outreach services. “We don’t just throw a few dollars at some minority company,” Brockman says. “In our case, we look at it as an obligation to try to develop minority companies.”

For its part, as well as making it easier for minority vendors to achieve official certification and access procurement opportunities, the Chamber has also implemented a wide-reaching mentoring initiative, the Ascend Business Development Program. Each year, the Chamber partners 50 small companies in the region with 50 large organizations, so that they can receive invaluable business development assistance at no cost at all.

“The results are transformative,” Trenary says. “The Ascend Program is about building the foundations, providing the opportunities and letting entrepreneurs grow their businesses.”

The commitment of Memphis-based authorities and businesses to civic responsibility and economic and social inclusion extends well beyond procurement and mentoring. The Community LIFT organization (Leveraging Investments For Transformation) was developed by The Greater Memphis Partnership as a way to revitalize impoverished neighborhoods in the city and create sustainable, thriving communities. Supported by funding partners including Fedex, Community LIFT awards funds and loans to projects in some of Memphis’ most historic regions. The generosity of individual residents in Memphis, and their support for social inclusion and civic projects, represent the foundations for the city’s regeneration. In 2017, a study by the Chronicle of Philanthropy concluded that Memphis was the most charitable city in the US, with individual residents donating an average 5.7% of their annual income to charitable causes – the highest level anywhere in the country.