Pro-entrepreneurship, Progressive

Progressivism often focuses on expanding social services and addressing inequality, while entrepreneurship is sometimes seen as a purely profit-driven venture. But what if these two ideas could work together? Supporting small businesses and entrepreneurs can be a powerful way to reduce poverty and build stronger communities. At the same time, social services remain essential to provide safety nets and opportunities for those in need. My vision for Government is for a pro-business progressive approach. By shifting resources toward entrepreneurs who create real value in society, we can make NJ a better place to live.

I've been working, learning, and leading around the world. This photo is from Davos Switzerland during the World Economic Forum Week of 2022.

Why Entrepreneurship Matters for Communities

Entrepreneurship drives economic growth by creating jobs and fostering innovation. Small businesses often serve as the backbone of local economies, especially in underserved areas. When entrepreneurs succeed, they:

• Provide employment opportunities to neighbors

• Keep money circulating within the community

• Offer goods and services tailored to local needs

• Inspire others to pursue their own ventures

  
  

For example, a family-owned grocery store in a low-income neighborhood can improve access to fresh food while creating jobs for residents. This kind of business strengthens the community’s economic health and social fabric.

The Role of Social Services in Supporting Entrepreneurs

Social services are vital for creating a foundation where entrepreneurship can thrive. Programs that provide education, healthcare, childcare, and financial assistance help reduce barriers for aspiring business owners. Without these supports, many people face challenges that make starting or growing a business nearly impossible.

Consider a single parent who wants to open a daycare center. Access to affordable childcare for their own children, health coverage, and business training programs can make the difference between success and failure. Social services do not compete with entrepreneurship; they enable it.

Changing the Flow of Capital Toward Entrepreneurs

Traditional financial systems often favor large corporations or industries that do not always benefit communities directly. Redirecting investment toward altnernative investment managers, small businesses and startups can create more equitable economic outcomes. This means:

• Increasing access to VC, microloans, and grants for entrepreneurs

• Supporting community development financial institutions (CDFIs) like TEC

• Encouraging local investment funds and crowdfunding platforms

• Reducing regulatory burdens that disproportionately affect small businesses

  
  

For instance, cities that have launched small business loan programs report higher rates of business survival and job creation. These efforts help keep wealth circulating locally rather than flowing out to distant shareholders.

Overcoming Misconceptions About Finance and Progressivism

Some progressives view finance and business as inherently harmful or exploitative. This perspective overlooks the potential for entrepreneurship to be a force for good. Finance itself is a tool; how it is used determines its impact.

By promoting responsible investment and ethical business practices, progressives can support financial systems that serve people and communities. This includes:

• Encouraging transparency and accountability in lending

• Supporting businesses that prioritize social and environmental goals

• Advocating for fair wages and worker protections within entrepreneurial ventures

  
  

This balanced approach recognizes that finance can help build healthy communities when aligned with progressive values.

These examples demonstrate that supporting entrepreneurship and social services together can create lasting positive change.

Practical Steps to Support Entrepreneurs in Your Community

If you want to help build healthy communities through business innovation, consider these actions:

• Advocate for local policies that increase funding for small business programs

• Support organizations that provide training and mentorship to entrepreneurs

• Shop at local businesses and encourage others to do the same

• Invest in community-focused financial institutions or crowdfunding campaigns

• Volunteer your skills to help startups with marketing, finance, or operations

  
  

Every effort contributes to a stronger, more resilient local economy. Here's an example of what we previously did in Newark together, when we got tired of no outlets teaching tech entrepreneurship.

The Bigger Picture: Building Inclusive Economies

A pro-business progressive vision aims to create economies that work for everyone. This means:

• Reducing poverty by creating pathways to economic independence

• Ensuring that wealth generated by businesses benefits communities, not just shareholders

• Promoting diversity and inclusion in entrepreneurship

• Balancing growth with social and environmental responsibility

  
  

By shifting resources toward entrepreneurs who care about their communities, we can build healthier, more vibrant places to live.