Operation HOPE Launches Minority Small Business Index in Collaboration with SurveyMonkey
ATLANTA and SAN MATEO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- Operation HOPE, America’s largest nonprofit financial inclusion organization, today launched the HOPE Minority Small Business Index in collaboration with SurveyMonkey (Nasdaq: SVMK). The HOPE index is intended to quantify the experiences and hopefulness of Black small business owners and aspiring entrepreneurs. Each question touches on a different aspect of their experience, from hope for business success to mentorship, risk tolerance, their access to capital, and future outlook on systemic issues that can impede success for Black small business owners.
“We are excited to collaborate with SurveyMonkey to give voice to the Black small business community, and to identify, amplify, and rectify the unique challenges they encounter on their pathway to success,” said John Hope Bryant, Founder, Chairman and Chief Executive Officer of Operation HOPE.
Fueled by SurveyMonkey’s Market Research Solutions, the first survey consisted of 1,167 Black small business owners and aspiring entrepreneurs who are participating in HOPE’s signature One Million Black Business and Entrepreneur Initiative and its other entrepreneurial training programs throughout the U.S. The responses provided help evaluate the current social, economic, and political climates that impact Black small business owners’ ability to succeed.
The survey, which was guided by SurveyMonkey research experts, was designed to aid in identifying issues faced by Black small business owners and entrepreneurs. Key findings include:
The effects of the pandemic on Black Small Businesses continue, yet owners remain optimistic
Majority of Black SBOs lack adequate access to capital
Socio-economic barriers to business deelopment and Black entrepreneurship remain
“SurveyMonkey is proud to play our part in Operation HOPE’s work to close the gap in entrepreneurial attainment. Our vision is to raise the bar for human experiences by amplifying individual voices,” said Zander Lurie, CEO of SurveyMonkey. “The feedback from Black small business owners is clear—they need better access to the resources, tools, and funding that propel small business success. Together, we can make sure this story is told.”
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