Small Business, Entrepreneurship and Innovation
For far too long, our regional economic development efforts have focused the majority of attention and resources on large corporations and developers. However, small businesses account for 44% of US economic activity and create two of every three jobs. As mayor, I am committed to supporting entrepreneurship and small business to foster economic growth.
St. Louis has built a nationally-recognized entrepreneurial ecosystem with innovation districts focused on life sciences, software technology, agricultural technology, and geospatial innovation, making it the fastest growing startup city in the United States in 2016. However, not all members of the St. Louis community have benefited from this growth. In 2019, St. Louis was ranked last - #50 out of the top 50 metropolitan areas - for minority-owned businesses.
My goal is to make St. Louis the best place for Black, Indigenous, People of Color (BIPOC), female, and LGBTQ+ entrepreneurs to launch their small businesses and high-growth startup companies. Creating a more equitable and inclusive business environment will facilitate job growth and an increased regional gross domestic product (GDP), while building a better climate for business and innovation.
Key initiatives:
Appoint a Chief Entrepreneurship Officer to support the growth and development of the entrepreneurial ecosystem, innovation districts, and small business infrastructure that are key aspects of the region’s economic development.
Modernize the process of obtaining a business license, making it as easy as a one-hour session either in-person or remotely using a web portal and/or mobile app.
Provide a welcome package for new business owners that includes a guide to small business resources such as co-working spaces, incubators, investors/lenders, service providers and community events.
Create a Smart Cities Startup Competition that attracts startups with data-centric solutions to urban and governmental challenges. Competition winners would have the opportunity to secure a contract with the St. Louis City government and receive exposure to the St. Louis startup community.
Support initiatives to help connect startups and small businesses - particularly those run by Black, Indigenous, People of Color (BIPOC), women, and LGBTQ+ individuals - to the numerous potential customers that exist within our region, including corporations, government entities, and other organizations.
Organize a biannual vendor fair where small businesses can connect with potential customers in the region.
Support the proposed STL Pledge in the Greater St. Louis 2030 Jobs Plan that will encourage large corporations to set clear goals for “buying local, hiring local, and investing local” and regional efforts which encourage anchor institutions to increase their commitments to supplier and hiring diversity.
Partner with upskilling organizations (e.g., LaunchCode), regional coalitions (e.g., St. Louis Equity in Entrepreneurship Collective), entrepreneur support organizations (e.g., Arch Grants), and K-12 initiatives (e.g., STEM STL) which work to ensure that an entrepreneur’s success cannot be predetermined by their race, gender identity, sexual orientation, or ZIP code.
Create and maintain a real-time dashboard which measures progress on these initiatives.