ProfitWise News and Views
Articles on economic development news and trends including small business lending, labor trends and tax incentives to assist underserved communities; consumer issues such as predatory lending, credit scoring and identity theft; regulatory compliance topics; and research activities relevant to community development. Also includes a calendar of events and district news. View Guidelines for Authors.
The material in ProfitWise News and Views is not necessarily endorsed by, and does not necessarily represent views of the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of Chicago.
Resource Utilization among Black Small Business Owners in Detroit: Results from a Questionnaire
In this special edition of Profitwise News and Views, CDPS senior business economists Maude Toussaint-Comeau and Robin Newberger present findings from a poll of black small business owners in metropolitan Detroit, who were identified through metro area business chambers targeted to minority entrepreneurs. The survey seeks primarily to gauge resource needs, and the perceived value and degree of access to formal and informal networks designed to assist business owners. Given a relatively small sample size of approximately 55 respondents, the findings do not represent sentiments of black business owners broadly speaking. However, some distinctions between newer and older businesses, as well as businesses in the city versus suburban communities, may inform the priorities of technical assistance providers, business incubators, and lenders. Download the Publication.
Exploring the Correlations between Health and Community Socioeconomic Status in Chicago
Continuing our investigation on the community development and public health intersect, senior business economist Susan Longworth’s article, “Exploring the correlations between health and community socioeconomic status in Chicago,” provides a look at how indicators of health parallel economic conditions, and at how one Chicago neighborhood, to some degree, provides an exception to this general relationship. Jason Keller, economic development director (for Illinois) in the Federal Reserve Bank of Chicago’s community development and policy studies division, and David Knight, an Ann Arbor based consultant and authority on Great Lakes navigation, provide an overview of a recent conference on Great Lakes ports, their economic and ecologic ramifications for our district and the changing dynamics of connections between ports and their surrounding communities. Download the Publication.