On February 11th, Kindred Futures’ Strategy & Impact team hosted a collaborative work session with the BSO Capacity-Building Cohort, a collective of 22 business-serving organizations (BSOs) working to strengthen the small business ecosystem. This convening addressed the challenges identified by BSOs, including funding, contract opportunities, data collection, and collaboration—critical factors in the success of Black-owned small businesses. 

This session was a direct outcome of the groundwork Kindred Futures laid last year to build a shared-results agenda for the region’s small business sector. Recognizing that BSOs play a critical role in the ecosystem, we have prioritized strengthening their capacity as an entry point to driving broader systems change.  

By deepening collaboration and aligning efforts, we are working toward an ecosystem that not only supports Black-owned businesses but also ensures they have the resources and opportunities to thrive.  

Key Takeaways & Next Steps from the BSO Capacity-Building Convening 

The session sparked insightful discussions and left participants with actionable strategies to strengthen support for Black-owned small businesses. 

Capital Deployment  

• Most BSOs rely on external lenders for capital, sparking strong interest in collaborating on joint grant applications and partnerships to improve capital access. 

Procurement & Contracts 

• Many small businesses struggle with government and corporate contract readiness, a challenge compounded by shifting political priorities, regulatory changes, and social pressures for equitable procurement. In response, plans are underway to develop joint partnerships among the BSOs that would establish a system to assess business needs, ensuring they are connected to the right resources to navigate these evolving dynamics. 

Data Infrastructure 

• Inconsistent impact tracking among BSOs makes it difficult to demonstrate collective results. Implementing a standardized tracking system could enhance reporting and attract more investment. 

Policy & Advocacy 

• A need to mobilize and engage local and state leaders to secure greater funding and resources. 

Collaboration & Shared Services 

• There is strong interest in sharing resources like accounting, legal support, and training. A collaborative approach could lower costs and improve services for small businesses. 

Next Steps 

• Deepen collaboration to enhance contract readiness. 
  Explore the creation of a shared lending fund to improve capital access. 
  Map out existing BSO services to identify gaps and align support. 
  Strengthen policy advocacy efforts to push for better funding and resources. 

By building on these insights and strengthening collaboration, we’re moving toward a more equitable, resilient small business ecosystem. Stay tuned as we continue this work!