Model and Strategy
Launch, an entrepreneurship program for Richmond youth, brings together two leading Bay Area organizations to support young people in Richmond and surrounding lower-income communities in Contra Costa County to develop alternative employment pathways and create their own economic opportunity through entrepreneurship.
The jobs of the future are entrepreneurial. Whether creating alternatives to traditional employment through small business ownership or pursuing pathways within the mainstream workforce, entrepreneurial qualities of self-direction, self-management, and effective communication are pre-requisites for success in the 21st century economy.
Working in partnership, Renaissance Entrepreneurship Center (Renaissance) and Bay Area Community Resources (BACR) will provide customized training and support to assist opportunity youth from Richmond and the surrounding areas to develop the entrepreneurial skills, confidence, and networks needed for success.
Impact
Small business ownership is recognized as one of the surest routes to economic mobility. As small businesswomen and men, individuals who face systemic barriers to opportunity due to gender, race, immigration status, income, education, or former incarceration are able to achieve economic mobility, build better futures for themselves and their families, create living wage jobs for themselves and other residents, and contribute to the social fabric and economic vitality of the community. According to an Association for Enterprise Opportunity report, “The median net worth of business owners is almost 2.5 times higher than non-business owners. For a black woman, the difference is more than 10 times.”
According to Renaissance’s annual independent evaluation, one year after clients completed intensive services, they experienced a 17% increase in household income. Further, a National Foundation for Teaching Entrepreneurship (NFTE) evaluation found that among youth who participated in entrepreneurship training, interest in pursuing higher education rose by 32% and career aspirations increased by 44%.
Whether a young person ultimately decides to create her/his own entrepreneurial pathway or pursue a conventional career, entrepreneurship training and support empowers them with the skills, confidence, mindset, and networks to succeed.
Leadership
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Sharon Miller
CEO