Indianapolis continues to face significant disparities in business ownership among residents from economically disadvantaged backgrounds. According to the Winter 2020 Small Business Ecosystem Assessment, only a small percentage of businesses are owned by individuals from lower-income communities, despite their substantial representation in the population. The same study found that these businesses were among the most severely impacted during the COVID-19 pandemic.
Even prior to the pandemic, many aspiring and current business owners in underserved areas lacked access to capital, mentorship, and technical support. In response, LISC and the City of Indianapolis launched the Microenterprise Navigator Program in 2021 to help close this gap and provide targeted support.
We’re proud to share that NICHE at Crooked Creek CDC has been renamed one of four Microenterprise Navigators across the city. NICHE 2.0 will enroll 30 businesses and provide hands-on technical assistance and business development support to entrepreneurs with household incomes at or below 80% of the area median income.