Home to more than 130 global companies and one of the fastest growing economies in the U.S., West Michigan has long been known as a great place to do business. Whether in small, family-owned companies or global, multi-billion-dollar manufacturers, entrepreneurship and innovation thrive here.
But historically, not all members of the community have been represented in West Michigan business ownership. Only about six percent of the businesses in the Grand Rapids-Wyoming Metropolitan Statistical Area are minority-owned.
As is true in many cities across the country, minorities have often not experienced equitable levels of access to business mentorship and networking opportunities, as well as the investment capital needed to start, buy or grow their businesses.
That’s starting to change here in Grand Rapids as nonprofits, business associations, and business and community leaders commit to increasing ethnic, racial and gender diversity in business ownership and entrepreneurship. This community knows that diversity and inclusion in the workplace – including in business ownership – is not just a moral issue. Without diversity in business, Grand Rapids knows a community's ability to thrive in an increasingly competitive global marketplace is limited.
While there is still room to grow and expand on this vision, several initiatives have been created to close the gaps and eliminate barriers that prevent minorities from owning businesses and contributing to the local economy.
