Over 1.4 million LGBTQ+-owned businesses are contributing up to $1.7 trillion to the US economy each year, according to data from the National LGBT Chamber of Commerce (NGLCC). June is recognized as Pride Month in the US and several other countries.
Public Private Strategies Founder and Principal Rhett Buttle emphasizes LGBTQ+ business as a critical portion of the United States’ “economic fabric,” saying this demographic of entrepreneurs are usually younger and focused on supporting other small businesses within their communities.
Buttle, who also served as President Biden’s National Business Advisor in his 2020 presidential campaign, lists some of the government agencies and resources LGBTQ+ businesses are taking advantage of:
“We’re seeing more and more states and local governments work with the LGBT community to help get LGBTQ businesses in their supply chains. It helps them make sure that they are really meeting the community where they’re at, as well as helps grows these businesses, so that’s really important part of it. I think another underutilized resource is the US Small Business Administration (SBA), which has really created a number of tools and programs to really meet business owners where they’re at. When you’re starting a business, sometimes it can be often confusing.”
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This post was written by Luke Carberry Mogan.
Video Transcript
According to the National Gay and…
