Economic Mobility Initiative

ECONOMIC OPPORTUNITY

County Spending Category
2.1 Small Businesses, Entrepreneurs, and Nonprofits
Federal Expenditure Category
Housing Support: Other Housing Assistance
Project Launch Date
09/15/2023
Anticipated End Date
12/30/2024

Project Contacts

Indicators & Metrics to Date

  • Number of Households Receiving Eviction Prevention Services (Including Legal Representation)
    0
  • Number of Affordable Housing Units Preserved or Developed
    0
  • % of businesses demonstrate an increase in annual revenue after one year
    0
  • The # of BIPOC and/or women entrepreneurs and small businesses outreached to to enroll in the Entrepreneurship Academy
    0
  • % of participants that receive support through at least two spokes to remove any barriers to startup and/or growth
    0
  • # of unique businesses going through initial intake and consultation for employee ownership
    0
  • # of unique businesses assessed for employee ownership financial viability
    0
  • # of Enrolled Feasibility Clients
    0
  • # of enrolled transition clients
    0
  • Finalized agreement for networking and mentorship
    0
  • # of program participants access to mentorship and networking structure
    0
  • Finalized agreement for certification and contracting
    0
  • # of program participants that have access to certification and contracting program
    0
  • # of program participants will have access to certification and contracting program.
    0
  • Finalized agreement for one-on-one counseling
    0
  • # of program participants that will access to one-on-one counseling
    0
  • Finalized agreement for a social enterprise start up and development program
    0
  • # of participants that will have access to the social enterprise start up and development program.
    0
  • Finalized agreement for a social enterprise capacity building program
    0
  • # of participants that will have access to the social enterprise capacity building
    0
  • Finalized agreement for a tenant improvement and working capital fund
    0
  • # of participants that will have access to the tenant improvement and working capital fund
    0
  • # of participants that will use the tenant improvement and working capital fund
    0
  • Finalized agreement for an investment fund
    0
  • # of participants that will have access to the investment fund
    0
  • # of participants that will use the investment fund
    0

Target Populations

  • Small Businesses

Project Description

Small businesses are the backbone of our communities. They are pathways to opportunity and wealth for both owners and their employees. Research has shown that small businesses are more likely to hire diverse, local talent and economically uplift their communities. Many small businesses were impacted by the onset of the COVID- 19 Pandemic. A summary of the impact can be seen in a report titled, “Pathways for Economic Resiliency: Los Angeles County 2021-2026” commissioned by the Los Angeles County Department of Workforce Development Aging and Community Services (WDACS) (now Los Angeles County Department of Economic Opportunity) and drafted by Los Angeles County Economic Development Corporation (LAEDC). The report noted that nearly half of all small businesses were closed in mid-April of 2020 and even by November there were still a 28.6% decline in the number of small businesses open in Los Angeles (“Pathways for Economic Resiliency: Los Angeles County 2021-2026”). These challenges were compounded by the unequal access to aid programs in the first few months of the pandemic. Small businesses that were able to receive aid were ~500+ employees (the maximum staff size to qualify as a small business). These businesses on average have greater access to resources and greater familiarity with applying for financial assistance programs. The report also revealed that small businesses owned by marginalized community members were disproportionately impacted by the Pandemic. The LAEDC report reaffirms the need to support small businesses, with a focused attention on those led by communities of color and women. The Economic Mobility Initiative (EMI) strives to provide support to historically disinvested communities, specifically women-led and/or Black Indigenous People of Color (BIPOC) -led small businesses, who were hardest hit by the pandemic. The program will create a central hub for all programs and several spokes that will fall under the hub. The four main spokes are categorized as: Spoke 1: Entrepreneurship Academy (Education and Information) Spoke 2: Networking and Mentorship Spoke 3: TA and Training Spoke 4: Capital Access The program will tackle barriers to growth and enable long-term economic success by holistically supporting women-led and/or BIPOC-led businesses. Ultimately, the Initiative aims to increase the economic prosperity and wealth of historically underserved communities which have been hardest hit by the pandemic.

Goals & Objectives

Goal Description Develop and implement the Entrepreneurship Academy with an aligned curriculum that can be tailored to meet the needs of outreach populations and scale by implementing a countywide network by the end of December 2023.

Objective Description By August 2023, the DEO will partner with a subrecipient to develop a curriculum.

Activity Description DEO will work with subrecipient to develop and align baseline learning objectives with specific modules for OSB and use by network, industry and in a population-specific and culturally competent way.

Objective Description By end of December 2023, the DEO will launch the Entrepreneurship Academy model for multiple priority groups and sectors through a network of 5 organizations throughout Los Angeles County.

Activity Description By end of September 2023, the DEO will create the Entrepreneurship Academy model for multiple priority groups and sectors by establishing a network of 5 organizations throughout Los Angeles County.

Outcome Description At least 250 program participants with priority for BIPOC and women-owned businesses and those from highest/high/moderate need census tracts will be equipped to start and advance their local businesses with foundational business education and information offered in an Entrepreneurship Academy by end of December 2024.

Goal Description 500 additional program participants from the highest/high/moderate need census tracts will have access to mentorship and networking help start, sustain, and grow their local businesses by December 2024.

Objective Description Develop a plan for networking and mentorship structure as part of the overall EMI and integrate into the program by October 2023.

Activity Description Execute an agreement with a subrecipient to develop a networking structure to support the program participants.
Indicators
# Type Name Baseline Target
9 Performance Finalized agreement for networking and mentorship 0.00 1.00

Outcome Description 500 program participants will have access to mentorship and networking.
Indicators
# Type Name Baseline Target
10 Program Outcome # of program participants access to mentorship and networking structure 0.00 500.00

Goal Description 500 program participants from the highest/high/moderate need census tracts will have access to technical assistance and training to help start, sustain, and grow their local businesses by December 2024.

Objective Description Launch an employee ownership program that conducts feasibility assessments for transition from single owner to worker-owned business with 80-100 businesses.

Activity Description Execute an agreement with a subrecipient for employee ownership.
Indicators
# Type Name Baseline Target
5 Service Delivery # of unique businesses going through initial intake and consultation for employee ownership 80.00 100.00

Objective Description Launch a certification and contracting training program to which 500 program participants from the highest/high/moderate need census tracts will have access to.

Activity Description Execute an agreement for certification and contracting by September 2023.
Indicators
# Type Name Baseline Target
11 Performance Finalized agreement for certification and contracting 0.00 1.00

Objective Description Launch a counseling program on marketing and social media, accounting, taxes, financing, hiring, management, etc. to which 500 program participants from the highest/high/moderate need census tracts will have access to.

Activity Description Execute and agreement for one-on-one counseling by September 2023.
Indicators
# Type Name Baseline Target
14 Performance Finalized agreement for one-on-one counseling 0.00 1.00

Objective Description Launch a social enterprise start up and development program to which 500 program participants from highest/high/moderate need census tracts will have access to.

Activity Description Execute an agreement for social enterprise start up and development program by September 2023.
Indicators
# Type Name Baseline Target
16 Performance Finalized agreement for a social enterprise start up and development program 0.00 1.00

Objective Description Launch a social enterprise capacity building program to which 500 program participants form the highest/high/moderate need census tracts will have access to.

Activity Description Execute an agreement for social enterprise capacity building program by September 2023.
Indicators
# Type Name Baseline Target
18 Performance Finalized agreement for a social enterprise capacity building program 0.00 1.00

Outcome Description 15-25 unique businesses will be assessed for employee ownership financial viability.
Indicators
# Type Name Baseline Target
6 Program Outcome # of unique businesses assessed for employee ownership financial viability 15.00 25.00

Outcome Description 8-10 unique Enrolled Feasibility Clients
Indicators
# Type Name Baseline Target
7 Program Outcome # of Enrolled Feasibility Clients 8.00 10.00

Outcome Description 3-6 unique enrolled transition clients
Indicators
# Type Name Baseline Target
8 Program Outcome # of enrolled transition clients 3.00 6.00

Outcome Description 500 program participants will have access to certification and contracting program.
Indicators
# Type Name Baseline Target
13 Service Delivery # of program participants will have access to certification and contracting program. 0.00 500.00

Outcome Description 500 program participants will have access to one-on-one counseling.
Indicators
# Type Name Baseline Target
15 Program Outcome # of program participants that will access to one-on-one counseling 0.00 500.00

Outcome Description 500 program participants will have access to the social enterprise start up and development program.
Indicators
# Type Name Baseline Target
17 Program Outcome # of participants that will have access to the social enterprise start up and development program. 0.00 500.00

Outcome Description 500 program participants will have access to the social enterprise capacity building

Goal Description Develop and implement a capital access program that includes a tenant improvement and working capital and an investment fund.

Objective Description Launch a tenant improvement and working capital fund for up to 100 program participants from the highest/high/moderate need census tracts will have access.

Activity Description Execute an agreement for tenant improvement and working capital fund to which 100 program participants will have access to by October 2023.
Indicators
# Type Name Baseline Target
20 Performance Finalized agreement for a tenant improvement and working capital fund 0.00 1.00

Objective Description Launch an investment to which 100 program participants from the highest/high/moderate need census tracts will have access to.

Activity Description Execute an agreement for the investment fund by end of August 2023.
Indicators
# Type Name Baseline Target
1 Performance Finalized agreement for an investment fund 0.00 1.00

Outcome Description 500 program participants will have access to the tenant improvement and working capital fund
Indicators
# Type Name Baseline Target
2 Program Outcome # of participants that will have access to the tenant improvement and working capital fund 0.00 500.00

Outcome Description 100 program participants from the highest/high/moderate need census tracts will use the tenant improvement and working capital fund.
Indicators
# Type Name Baseline Target
1 Program Outcome # of participants that will use the tenant improvement and working capital fund 0.00 100.00

Outcome Description 500 program participants will have access to the investment fund.
Indicators
# Type Name Baseline Target
1 Program Outcome # of participants that will have access to the investment fund 0.00 500.00

Outcome Description 100 program participants from the highest/high/moderate need census tracts will use the investment fund.
Indicators
# Type Name Baseline Target
1 Program Outcome # of participants that will use the investment fund 0.00 100.00