Capacity Building for Capacity Builders

• Build connections and knowledge sharing among organizations providing minority-owned businesses with economic, capacity building, and technical assistance
• Increase minority business serving organizations’ capacity through professional development opportunities and financial/organizational coaching 
• Foster a stronger inclusive, equitable, and diverse business ecosystem
• Capture policy ideas that can influence grants, loans, and incentive programs at the state, federal, county, and local level

The full-day workshop included a series of panels and small working groups organized around critical topics suggested by members of Chicago’s business ecosystem.

9:30 a.m.
Registration & Breakfast

10:00 a.m.
Welcome & Opening Remarks
Featuring: Geri Aglipay, US Small Business Administration; Michael Behnam, Loyola University Chicago's Quinlan School of Business; Jaqueline “Jackie” Jackson, Kilwins

The SBA regional administrator, the SBA Illinois Small Business Person of the Year honoree, and the dean of Loyola University Chicago's Quinlan School of Business will give welcome remarks and discuss the importance of strengthening the minority business ecosystem. Additionally, SBA leadership will share why Loyola was awarded a $625,000 grant to help address inequality and inequity across Chicago’s minority business ecosystem and the importance of leveraging research to drive impact.

10:30 a.m.
Speed Dating/Roundtable Discussion
Facilitator: Amy Stoken, Next Level Exchange

Join us for an engaging and dynamic networking experience designed to foster collaboration and partnership among business support professionals. Our speed dating-style hour will be an innovative platform for participants to connect, share insights, and explore potential synergies in a fast-paced and interactive manner. This session provides a unique opportunity to expand your network, exchange ideas, and cultivate meaningful relationships with peers also seeking to drive positive change within our community.

11:45 a.m.
Strengthening the Minority Business Ecosystem: Lunchtime Collaboration Conversations
Facilitator: Jonathan McGee, Baker Tilly

BSO staff and leadership will eat lunch and collaborate at tables to discuss topics that were raised during speed dating and the CIGC meeting. Each table will have a topic for BSO staff and leadership to discuss. After lunch, tables will share out discussions, thoughts, and commitments to supporting each other.

1:00 p.m.
Advisors Academy Breakout Sessions
Session A: Professional Staff | Session B: Executive Track
Speakers: Cheyenne Duy and Lindsay Mueller, Women’s Business Development Center

Build your professional skills and network with The Advisor Academy, an exclusive program designed by and for BSO advisors and trainers. Our inaugural cohort will launch in Fall 2024, where BSO advisors will gain essential entrepreneurial skills, refine advising techniques, and foster invaluable networks within the advisor community. In today’s workshop, we’ll introduce The Advisor Academy to all participants and collectively plan the development of its curriculum. Contribute to shaping our core curriculum by exploring vital questions on how to teach entrepreneurship skills, soft skills, and network building. Join our planning session and secure your no-cost spot on the waitlist for the first cohort and join in the collaborative effort with ecosystem partners including the Women’s Business Development Center, Sunshine Enterprises, Chicago Urban League, Foundation of Little Village, Rogers Park Business Alliance, and DePaul University. Don't miss this opportunity to shape the future of business advising in Chicago.

2:00 p.m.
Networking Break

2:15 p.m.
Breakout A: Planning for the Future: How Succession Planning Can Mitigate the Impact of Staff Turnover
Gillian Florentine, Baker Tilly

The competitive labor market, higher vacancy rates, and an increased volume of retirements are driving government entities, public utilities, and nonprofit organizations to adopt workforce and succession plans. Workforce and succession planning programs complement an organization’s need to develop and engage staff to increase retention and often fit into processes and programs that likely already exist within your human resources services. The amount of time and budgetary resources spent implementing a plan can be minimal and the benefits enormous. Learn more about Baker Tilly’s three-part workforce and succession planning series which breaks down planning into specific actions you can immediately implement.

Breakout B: Driving Innovation in BSO Operations through Ecosystem Collaboration
Speakers: Maddie Bianchi, Next Street; Emmanuel "Manny" Davila, Southland Development Authority; Domini Gamble, Cook County Bureau of Economic Development

Minority-serving BSOs are increasingly facing capacity, staffing, and budgetary challenges, while also being forced to do more with less for minority businesses. Join this session to hear about ways BSOs can leverage collaborative ecosystems to drive innovation.

3:15 p.m.
Breakout A: Data-Driven Decision Making: How BSOs Leverage Research to Drive Measurable Impact Track
Speakers: Manjima Bose, Baker Tilly; Malik Henfield, Loyola's Institute for Racial Justice; Garvester “Gar” Kelley, Federal Reserve Bank of Chicago; Robin Newberger, Federal Reserve Bank of Chicago

Join the Federal Reserve Bank of Chicago, Baker Tilly’s CDFI Consulting Team, and Loyola’s Institute for Racial Justice to learn how BSOs can utilize minority business ecosystem reports, the FRB’s small business credit survey, and CRA data to drive measurable impact for minority-owned businesses. Additionally, community development finance corporations (CDFC) have developed innovative models around technical assistance, access to capital, and capacity building, which are critical for strengthening the minority business ecosystem. Hear from Baker Tilly and FRB on what BSOs can learn from CDFIs on leveraging data to craft innovative solutions. Lastly, Loyola’s Institute for Racial Justice released the State of Black Chicago Report with the Chicago Urban League. Learn how this report can be utilized by BSOs to inform their work.

Breakout B: Communicating Impact to Funders: Diversifying Your Revenue Stream
Speakers: Adam Engle, Fund for Equitable Business Growth; Tim Liston, EY; Brad McConnell, Allies for Community Business; Dorri McWhorter, YMCA of Metropolitan Chicago; Jourdan Sorrell, Comcast
Moderator: Karen Weigert, Baumhart Center

BSOs have traditionally been reliant on government funding to deliver on their mandates, and many times, government can decrease impact and incentivize poor business coaching due to KPI-driven compliance and reporting. Join EY, Comcast, CCT's Fund for Equitable Growth, the YMCA, and Allies for Community Business to learn about how to leverage cross-sector tax credits, loans, and grants to drive a diverse balance sheet focused on equity and impact versus checking a box. BSO leaders will learn examples and strategies around how to effectively communicate funders that drives mutual return on investment (ROI).

4:30 p.m.
Reception

The following resources were referenced by our workshop speakers:

Planning for the Future: How Succession Planning Can Mitigate the Impact of Staff Turnover

• Baker Tilly: Succession Planning Basics (pdf)

Driving Innovation in BSO Operations

• Next Street: Assessing Chicago’s Small Business Ecosystem (pdf)
• Next Street: Driving Innovation in BSO Operations Deck (pdf)
• Next Street: Practitioner Ecosystem Building Packet (pdf)
• Next Street: A practitioners’ guide to building organizational capabilities to serve small businesses

Data-Driven Decision Making

• Baker Tilly: Community Development Financial Institutions (pdf)
• Chicago Urban League: 2023 State of Black Chicago Report 
• Federal Reserve: Data on Small Business Credit Demand and Lending (pdf)
• Federal Reserve: Small Business Credit Survey
• FFIEC: Community Reinvestment Act (CRA) Small Business Lending