Input Sought for Native Business Incubator Feasibility Study



FOR IMMEDIATE RELEASE

May 24, 2022


CONTACT:

Lorraine Davis, Chief Executive Officer

(701) 595-5181 lorraine@ndnadc.org


A business incubator feasibility study by the Native American Development Center seeks to collect data from Native American business owners in the Bismarck metro area. The study will explore solutions to address the many barriers faced by Native entrepreneurs.


"Access to resources, like investment capital, professional networks, skilled employees, and information technology, is limited for Native American and minority populated entrepreneurs," explained NADC chief executive officer Lorraine Davis. "If we don't make them more available, financial inequities will further exacerbate the economic, health, education, and family disparities in North Dakota communities."


If the feasibility study determines the need, NADC plans to build a small business incubator to enhance workforce and business development amongst Native Americans and other minority populations in the Bismarck metropolitan area. The input from the study will inform a tailored approach for programs and services to support workforce and business growth. The proposed facility will create an Indigenous business community a place for networking and collaborating on enterprise development.


"Who better to help guide our business start-ups than our established and aspiring Native business leaders with all the tourism enhancement opportunities?" said Mrs. Davis. "They are driven by creating opportunities and influencing positive change. With the proper knowledge, resources and relationships of trust, we can help them establish and grow more businesses, powerfully impacting the lives of Native American and minorities who are vastly disproportionately represented in small business ownership and workforce."


NADC encourages Native and minority entrepreneurs, business owners, and individuals wanting to start a business to participate in the feasibility study.


The online survey is open from today through June 30th and can be found here https://sweetgrassconsulting.formstack.com/forms/nadc_business_start_up_development_survey.


To participate in a focus group being held on June 27, 2022 from 9:30 a.m. – 11: 30 a.m., please contact Lorraine Davis by email at lorraine@ndnadc.org or phone at (701) 595-5181. There will be three $100 drawings for survey participants, and $50 for each focus group participant.



The Native American Development Center (NADC) is a 501(c)3, Native Community Development Financial Institution (Native CDFI) governed by a nine-member board of directors that represent the tribal populations it serves. NADC builds consumer wealth and small businesses, including Native Artist businesses throughout North Dakota, to revitalize and develop our tribal constituents' inherent entrepreneurial talent and desire to build credit wealth to obtain lifelong economic dreams.

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