It takes passion to launch and grow a business. It takes material assets, too—including capital, infrastructure, professional services and technical advice. Historic inequities in entrepreneurs’ ability to access assets have stacked the deck against diverse small business owners.
White entrepreneurs have on average $106,720 in startup capital,
Black entrepreneurs raise only $35,205.
Source
To help entrepreneurs surmount those systemic barriers—and ultimately dismantle them—LISC invests in Business Development Organizations (BDOs) so small businesses can find the local support they need to grow and flourish.
LISC supports 140+ local BDOs who partner with diverse small businesses owners.
What is a BDO?
Business Development Organizations (BDOs) are committed to serving businesses owned by people from disinvested and underserved communities. With deep local roots and the trust of their communities, BDOs understand the conditions on the ground and the needs of local small business owners. LISC’s network of BDOs is active in more than 25 markets nationwide.
BDOs offer comprehensive business services, including planning, financial coaching, assistance accessing new revenue streams, and more. They function as a high-touch response system for emerging entrepreneurs and legacy small business owners alike, helping them to launch, operate, grow, develop resiliency, and create new jobs in their communities.
BDOs include CDCs, CDFIs, chambers of commerce, business improvement districts, merchants associations, incubators, accelerators, and more.
Portraits of Impact: Praise for BDOs
Business owners share their thoughts about their BDO.
How do we support BDOs?
LISC’s Business Development Organization (BDO) Network boosts member organizations’ capabilities by providing the support and connections they need to effectively serve local small business owners. Through grants, cross-sector collaboration, and advocacy, LISC equips participating BDOs with technical assistance, data training and management, financial support, and peer-learning opportunities.
Members of the LISC BDO Network have access to:
- Financing: Financial support through various funding opportunities and grants.
- Cross-Sector Collaboration: Opportunity to deepen partnerships among stakeholders to expand programs and streamline processes for small businesses.
- Peer Learning Opportunities: Participation in training sessions, exclusive events, and the sharing of best practices among members.
- Data Support: Our data resources help BDOs measure their impact and share success stories effectively and our team provides training on data management and visualization.
- Advocacy: LISC actively advocates for policies that uplift underserved businesses, driving meaningful change in local banking, government, and other systems businesses navigate.
Through these efforts, LISC empowers BDOs to create stronger support systems for small business owners, and build economic growth and resilience in the communities they serve.
LISC Small Business Resiliency
With support from our partners, the LISC Small Business Resiliency programming helps entrepreneurs innovate, expand, and thrive as they face extreme weather.
Join Us
Interested in supporting business owners by collaborating with the BDO network?
Contact Destiny Mitchell, Senior Program Officer
News & Impact
Building Organizational Capabilities in Service of Equitable and Inclusive Small Business Ecosystems
A practitioner’s guide from LISC and Next Street offers guidance, best practices, and a platform to nurture small business.
Creating a More Inclusive Economy With the Help of “Community Navigators”
Small Business Administration’s Community Navigator Pilot Program invested in trusted BDOs to reduce the barriers entrepreneurs face in accessing critical support.