How to use this guide – think of it like a cookbook!
This guide is filled with easy-to-follow “recipes” for actionable ways a BID can work to improve equity within their district. The recipes selected were identified through outreach and consultation with the New York City Department of Small Business Services, BID leaders and practitioners. Each recipe is designed to offer BID practitioners a step-by-step set of actions, together with an understanding of key implementation details, including level of difficulty, magnitude of cost, lead time, necessary partners, and options for monitoring success.
The Recipes
Equity Basics for BIDs
Equitable outcomes often begin with taking a look at who controls decision and resource allocation in the following areas:
- At the decision-making table.
BID Board. By New York State law, the majority of seats on a BID board must be reserved for property owner representatives, who may not reflect the diversity of the district. Together with the balance of board members, who may include commercial tenants, city representatives and residents, BIDs may explore ways to diversify their board leadership.
BID Staff. BID staff are often the first line of engagement with businesses. Bilingual or culturally competent staff can help encourage diverse business participation from marginalized communities.
Community and business owner participation and engagement. BIDs are accountable to residents, visitors and employees who experience the district as consumers. In many cases, these individuals have a limited formal role in BID decision making. BIDs can find ways to encourage their insight and participation to understand and support businesses in meeting their needs.
- In the distribution and application of resources and services.
Program participation. BIDs can assess and track the distribution of resources, tools and technical assistance across business types, diverse ownership models and among certified minority and women owned businesses (MWBEs).
Procurement and workforce diversity. BIDs can explore ways to help local businesses improve workforce diversity through engagement with workforce training providers or support for job fairs.
- In the spaces and places that people inhabit.
Public spaces. Public gathering spaces, streets and sides are all opportunities for BIDs to review the accessibility of public spaces to people of diverse backgrounds and abilities.
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Here are some useful links to funding and grant opportunities offered by the government at the city, state, and federal levels. These resources can provide financial and economic assistance to small businesses:
- Contract Financing Loan Fund: Loans of up to $1,000,000 at an annual interest rate of up to 3% are available to eligible businesses. Closing fees apply. To be eligible to apply for a loan, you must:
- Have an operating business
- Be applying for financing as a prime or subcontractor to use toward a contract with a City agency or City-funded entity
New York State Small Business Credit Initiative (SSBCI): Managed by the U.S. Department of Treasury, SSBCI provides funds to support programs for small businesses, including socially and economically disadvantaged individual (SEDI) owned businesses and very small businesses (VSB), to recover from the economic effects of COVID-19 and allow them an opportunity to succeed in the post-pandemic economy. With this funding, Empire State Development (ESD) has developed a suite of capital access and equity programs to help New York State small businesses recover from the economic effects of COVID-19 and allow them the opportunity to succeed
Case Study
Accompany Capital is a non-profit financial institution with offices in Manhattan and Jackson Heights, Queens, that provides small business loans, training in business fundamentals and credit building, marketing, and technology to entrepreneurs with an emphasis on new immigrants, refugees, and woman entrepreneurs. In 2022 alone they offered over 30 online workshops on topics such as QuickBooks, Business Taxes and Digital Marketing. Pre-COVID, the 82nd Street BID and Accompany Capital had begun working together, but the relationship flourished during COVID, when Accompany Capital and The 82nd Street BID worked closely to distribute donations and grants worth over $20 million dollars to small businesses within the district.
Website – integrate translation plugins to your BID’s website for key languages in your community. For example, Chinatown BID offers English, Chinese Traditional, and Chinese Simplified translation plug-ins on their site.
Social Media – Utilize the photo carousel feature to share your post in multiple languages. For example, Flushing BID sharing on Instagram their March Shopping Madness in English and Chinese.
WhatsApp (Email/Social Media/Website Alternatives) – Everyone gets their information differently. Media consumption/information access preferences vary across generations, cultural groups, and income. It is important to remember that not everyone uses email or social media. There may be other methods of communication that could reach people within your community. WhatsApp is the world’s most popular messaging system; it does not require a phone plan, but uses the internet to send texts, making it more financially accessible and easier to communicate with people in different countries. The WhatsApp’s Community feature can be a useful tool for BIDs to use to reach WhatsApp users in their district. The Community feature can function as a listserv for sharing important information. WhatsApp also has translation features to help with language accessibility. WhatsApp has several applications that can support business owners in advertising their businesses and increasing the outreach to new potential customers. These tools can be used by BIDs to engage with their community and promote local businesses as well as community events. Other than the WhatsApp Communities feature, WhatsApp also offers WhatsApp Business. A tutorial on WhatsApp Business can be found in this link. Further options for using WhatApp can also be by connecting your Facebook and Instagram accounts to a WhatsApp account.
Offer Bilingual Entrepreneurship Support Programs and Resources. This can be done with the help of the City and local anchor institutions or cultural centers. Some examples include:
Business Development Workshops covering various topics that include business plan development, business law, insurance, marketing, and business banking among others.
Resources on the importance of financial management and access to financing
Assistance in bilingual marketing efforts for communications such as storefront signage and menus. This helps support non-native English-speaking business owners demonstrate their offerings to customers who do not speak their native language.
Case Study
Acknowledgements
Authored by
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Larisa Ortiz
Streetsense, Managing Director, Public Non Profit Solutions
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Emily Morin
Streetsense, Research Analyst
This checklist and the BID Toolkits were developed thanks to generous support from the NYC Department of Small Business Services and The Association for a Better New York (ABNY).
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