Ideas

Derek Green
Former City Councilmember | Philadelphia, PA

Thinking Small (Business) Can Have BIG Results!

Problem

Philadelphia has the unfortunate distinction as the nation's largest poorest city, with a poverty rate of more than 26 percent. More than 84% of businesses in Philadelphia have fewer than 20 employees. Changing that narrative begins with growing our neighborhood businesses and commercial corridors by ensuring they have access to capital, as well as providing them with the means to be competitive in acquiring City contracts. What this says to a local entrepreneur or business owner is, "We, as a city entity, value you and want to help you and your communities thrive."

Solution

A simpler, faster procurement process is key to expanding and diversifying our economic landscape. Under legislation that I introduced earlier this year and passed with the support of my Council colleagues, a ballot question will be put to voters in the November election to increase thresholds for formal bids and Requests for Proposals (RFP’s) from the Office of Procurement from $34,000 to $75,000 for all business and up to $100,000 for local businesses. This change would expand access to more small businesses – especially for minority- and woman-owned establishments – and incentivize diversity and competition.

More Idea’s From Derek Green

Councilmember Derek Green: Public Banking Boosts Disadvantaged Businesses

Idea Category: Equity & Opportunity, Jobs and Entrepreneurship | Funding Source: ARP

Learn More

Establishing a Public Bank in the City of Philadelphia

Idea Category: Equity & Opportunity, Jobs and Entrepreneurship | Funding Source: ARP

Learn More

Subscribe

Recent News

NewDEAL Leaders Resilient During Post-Election Conference

LEARN MORE

Clips from NewDEAL Conference on ABC’s The View

The View
LEARN MORE

This Is NassauStudent Loan Bill of Rights