Prosper announces a plan to launch NEW Black Ecosystem Report

Birmingham lacks black-owned businesses despite being a majority minority city. Photo courtesy of Prosper Birmingham.
Prosper will help you take your small business to the next level. (Prosper Birmingham)

That’s right, Prosper is getting ready to transform the community by creating a more prosperous and equitable future with this report on Black-owned businesses in Birmingham. Keep reading for more details on this report and the impact it will have on the Birmingham area.

Let’s Prosper

Prosper is made up of different business, civic and community leaders that are committed to creating a more vibrant and racially and gender-inclusive economy. Prosper successfully launched in the summer of 2021 and has provided more opportunities for a more equitable and inclusive Greater Birmingham area.

Black Ecosytem Report

Prosper Introduces New Black Ecosystem Report
Prosper Introduces New Black Ecosystem Report. (Prosper Birmingham)

According to Prosper, the Black Ecosystem Report will fall under Propser’s Black-Owned Business Association key initiative. This report will:

  • Identify Birmingham’s best practices
  • Help support the acceleration of Black-owned businesses
  • Understand the full scope of Birmingham’s current ecosystem
  • Explore more opportunities that will foster collaborations and partnerships that will help these businesses.

“The Black Ecosystem Report represents a crucial next step. While we have a clear vision for a more inclusive future, this report will provide essential data that can help us best allocate our time, talents, and resources toward making a truly meaningful difference for
Black-owned businesses. The result will be a more level playing field – one where Black-owned businesses are positioned to grow and succeed while creating generational wealth and inclusive prosperity throughout Birmingham.”

Key Hudson, Region’s Commercial Banking Support Executive & Prosper Advisor Committee Member, Regions & Prosper

The Process

Fourth Economy, a national community and economic consulting firm, had been contracted to help with this report. Two Black-owned, Birmingham-based businesses, Ignite Alabama and LRY Media Group, will also work on this report. Ignite Alabama will focus on providing community engagement and LRY Media Group will manage communications and outreach. For this process, Prosper has also established an Advisory Committee. This committee will serve as a broader initiative with professionals and social networks and champions of the plan. They will also participate in the report’s development and serve as connectors, advocators and influencers to propel recommendations based on the report.

Prosper’s 4 Key Initatives

  • Birmingham Promise: To prepare Birmingham’s workfore with quality jobs, Prosper offers an apprenticeship & scholarship program for students and graduates of Birmingham City Schools, where they help provide internships and help pay college tuition and fees up to four years at public colleges in Alabama.
  • Black-Owned Business Acceleration: To generate accesible jobs and community wealth, Prosper launched a hands-on development program that will help connect Black entrepenuers with the capital, connections and coaching they will need to build and grow their businesses.
  • Business Advisory Services: Prosper has partnered with The Alliance to launch the Supplier Scale. Prosper and The Alliance are strategically committing to growing good jobs and supporting growth of local and minority small businesses with connections and curiated services. 20 eligible local small businesses will particpate in Prosper’s small business cohort.
  • Health Tech Industry Cluster: Through investments in community, engagement, entrepreneurship and talent, Prosper focuses to make Birmingham a center of health technology solutions.
    • The Prosper Health Accelerator provides capital, coaching and connections to cutting edge health technology startups to help build and grow their businesses.
    • B-Included is an online portal created by start-up business Acclinate™, which is based right here in the Magic City. B-Included will engage 10,000 Jefferson county residents to help eradicate health-related barriers to employment, provide easy access to resources and reduce the minority wealth gap by educating residents on relevant health conditions.

Are you excited for what Prosper is bringing to The Magic City? Tag us @Bhamnow to let us know.

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JeVante Shropshire
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