Business Development Organization Network

Philadelphia's vibrant and diverse small business sector is the backbone of our city’s economy, culture, and our local communities. In 2017, there were an estimated 26,000 small businesses (1 to 50 paid employees) and 101,000 sole proprietors, with growth among both segments over the prior 5 years. BIPOC business owners are significantly underrepresented in the sector; while Black and Latinx residents make up 44% and 17% of the city’s population, they only own 5% and 4% of all employer businesses, respectively.

To help address this disparity, in 2021 we launched a new Business Development Organization (BDO) Network comprised of CDCs and CDFIs serving small business owners across the city - especially those owned by people of color, women, and immigrants who often lack access to opportunities for growth.

Our BDO Network currently includes eight partners:

• The Enterprise Center
• Lancaster Avenue 21st Century
• Women's Opportunities Resource Center
• The Business Center
• The Welcoming Center
• Philadelphia Area Cooperative Alliance (PACA)
• The Asian American Chamber of Commerce
• The Philadelphia Hispanic Chamber of Commerce

BDOs ensure that aspiring and experienced entrepreneurs have the financial and technical resources to be able to launch or scale their businesses. They connect and provide small business owners with comprehensive multilingual services including technical assistance, planning, financial coaching, and access to new revenue streams including grants and loans. 

LISC helps to build the capacity of BDO partners through grants, data management systems, and training tools for business owners focused on planning, financial management, marketing and more. To date, LISC Philadelphia has supported BDO partners to connect more than 1,000 small businesses to a comprehensive training and coaching platform provided by Verizon. Of those who self-reported, 85% are BIPOC and 62% are female small business owners.