Strategies for Economic Growth Through Inclusion

By 2053, Black wealth could fall to zero if current trends continue. This isn't just a number—it’s a stark reminder of systemic inequities and the urgency of collective action. But here’s the thing: statistics like this don’t tell the full story. They don’t account for the power we hold to shift the narrative. As leaders, innovators, and culture-makers, we must embrace wealth equity as a core strategy. Here’s how we can start rewriting the script: 1️⃣ Build Financial Resilience Through Ownership: Ownership—whether it’s businesses, real estate, or intellectual property—is one of the fastest paths to generational wealth. Minority-owned small businesses, for example, often overlook opportunities like supplier diversity programs or university procurement partnerships. Tapping into these underutilized resources can accelerate growth. 2️⃣ Invest In Community-Centric Innovation: Many of the apps, services, and products we rely on don’t center our lived experiences. Imagine if our $1.8 trillion in buying power was directed toward solutions built for us, by us. It’s time to create platforms that reflect our values and needs, not just consume them. 3️⃣ Prioritize Financial Literacy and Intentional Spending: Knowledge is power. From understanding the compounding effect of investments to teaching the next generation how to save and build credit, we must normalize financial conversations. Similarly, supporting Black-owned businesses should be an everyday practice—not just a seasonal one. 4️⃣ Collaborate and Scale Thoughtfully: Sometimes, intentional smallness is the path to big impact. Entrepreneurs, for example, don’t need to scale at the expense of sustainability. We can focus on profitable, community-centered growth without being pressured into rapid expansion. This isn’t just about avoiding a financial cliff—it’s about building a future where our contributions are valued, our stories are told, and our wealth is sustained. So, let’s not wait for solutions to come from elsewhere. Let’s lead. Let’s invest in ourselves, our communities, and our collective power. What steps are you taking today to shift this trajectory? I’d love to hear your perspective.

Recent discussions around DEI have led some organizations to reconsider their commitment. At the National Black MBA Association, we believe this is a mistake. DEI isn't just a social responsibility; it's a business imperative. Here's why: ▪️ Untapped Consumer Power: The U.S. is becoming increasingly diverse. Multicultural consumers hold trillions in spending power – and it's growing rapidly. ▫️ Hispanic buying power: $2.8 trillion by 2026 (a 320% increase!) ▫️ African American buying power: $2.1 trillion (a 183% increase!) ▫️ Asian American buying power: $1.9 trillion by 2026 (a 367% increase since 2000!) Ignoring this market means leaving massive revenue potential on the table. ▪️ Innovation & Growth: Research consistently proves that diverse teams are more innovative and profitable. ▫️ Inclusive companies are 2.3x more likely to be high-performing. (Deloitte) ▫️ Diverse companies generate 45% of revenue from innovation vs. 26% for less diverse companies. (World Economic Forum) ▫️ Diverse businesses are 70% more likely to capture new markets. (Intuition) DEI is about future-proofing your business. It's about attracting top talent, fostering creativity, and building trust with a diverse customer base. At NBMBAA, we're unwavering in our commitment to DEI. We urge business leaders to resist short-term pressures and embrace the long-term advantages of a diverse and inclusive workforce. #DEI #businessgrowth #innovation #leadership #futureofwork

Latinos in the US start businesses at three times the rate of the general population. That’s a testament to their courage and optimism. The median White household has five times the wealth of the median Latino household. That’s a testament to unequal access to financial-system benefits. We can do better. In a new study, “The economic state of Latinos in America: Advancing financial growth,” my colleagues explain what’s to be gained—and suggest ways forward. In short: better serving Latinos in the US can accelerate inclusive economic growth in the community and generate new opportunity in the financial industry. You can read the report here: https://lnkd.in/dkdrVDuQ About that opportunity: In 2030, projected revenue from Latino households and small and medium-size businesses could reach $265 billion, or 8 percent of the total value of the financial-services market. Better serving Latino business owners alone could by then generate $25 billion. Achieving this won’t be easy. What would it take? My colleagues offer three approaches for bold leaders. The first focuses on commercial value, finding ways to rapidly acquire and grow revenue from key customers by fulfilling their specific needs and eliminating pain points. The second is about inclusion, a long-term view that works to give more people access to the financial system. The last approach focuses on inclusive growth, which aims to better address the needs of customers who already have relationships with financial institutions. At its core, this is about empowerment—about giving more people a better shot at good opportunities. Bold leaders know this can be done. Let’s move fast and break barriers. I want to thank my colleagues Alberto Chaia, Arsenio Martinez-Simon, Nick Noel, Marukel Maxwell, and Lucy Perez for their work on this important report. #SustainableInclusiveGrowth

Strengthening America's Supply Chain: The Critical Role of Minority Business Enterprises The newly released report, "Ways in Which Minority Business Enterprises Can Meet Gaps in the U.S. Supply Chain," exposes a critical gap in our economic landscape: the underutilization of Minority Business Enterprises (MBEs). These businesses represent nearly 20% of manufacturing and services firms in supply chain industries, yet account for only 6.3% of payrolls, highlighting a significant missed opportunity for both economic growth and supply chain resilience. 👁️ The Challenge: MBEs face significant barriers, including limited representation in high-growth sectors like advanced manufacturing (only 10% of firms). 💪 The Solution: The report identifies targeted strategies to bridge this gap, including: 💪 Expanding corporate supply chain diversity initiatives Fostering entrepreneurship in advanced industries 💪 Leveraging federal investments, such as the CHIPS Act, to ensure MBE participation 💥 Addressing barriers like capital access, workforce readiness, and network disparities is crucial. 💥 By fostering public-private partnerships and implementing innovation-driven policies, we can empower MBEs to drive economic inclusion and strengthen our supply chains. Want to be part of the solution? Dive deeper into the data and discover how we can collectively empower MBEs to thrive. Download the full report now! [Link to Report] #SupplyChain #MBE #EconomicGrowth #EconomicOpportunity #SupplyChainResilience

Creating more and better jobs is not only the The World Bank Group’s top priority — it is also the foundation for inclusive growth and long-term stability. Nowhere is this need more urgent than in Africa, where a rapidly growing and youthful population calls for bold and scalable solutions. In #Cameroon, youth aged 18–35 make up 57% of the labor force, yet too many remain excluded from meaningful economic participation. A new generation is ready — what they need are clear, structured pathways into entrepreneurship and private sector–driven employment. That’s where the Adaptive Safety Nets and Economic Inclusion Project, supported by the The World Bank, is already making a difference. Thousands of young Cameroonians are gaining access to startup capital, tailored coaching, and hands-on business support. 🚀 Impact so far: • 2,000 youth entrepreneurs supported through business plan competitions and seed funding • 65,000 urban youth trained and empowered through economic inclusion programs From agri-processing to digital services, youth-led ventures are emerging — not just as sources of income, but as catalysts for resilience, innovation, and inclusive growth. 💡 Yet public programs alone cannot carry the full weight of the challenge. This is precisely where IFC - International Finance Corporation and the private sector step in. IFC’s role — as the World Bank Group’s private sector arm — is to help transform youth potential into viable enterprises, investable ideas, and long-term job engines. That means scaling access to finance, strengthening entrepreneurial capacity, and de-risking private investment in sectors with high job creation potential such as agribusiness, digital technology, and light manufacturing. This is the One World Bank Group approach in action: public and private sector solutions working together to create a more inclusive, resilient, and prosperous future. 📘 Learn more: 🔗 Unlocking Cameroonian youth’s potential for more and better jobs https://lnkd.in/d35_YKZh Ethiopis Tafara Charlotte Ndaw Sako Ange KOUASSI Cheick Fantamady Kante #OneWBG#IFCinafrica #PrivateSector #YouthEmployment #JobCreation 

LGBTQI+ inclusive economies are strong economies! Sharing a ⚡ NEW ⚡ USAID roadmap for integrating LGBTQI+ communities in economic growth programming. Includes key barriers, recommendations, and what works! Special thanks to the incredible work of the Williams Institute including scholars Ari Shaw, Ph.D. and Miguel Fuentes Carreño, PhD as well as Making Cents International. Access the guidance here: https://lnkd.in/efz5wHMs The Sectoral Guidance on Integrating LGBTQI+ Communities into Economic Growth Programming provides actionable recommendations for USAID, implementing partners (IPs), and civil society organizations (CSOs) to advance inclusion of lesbian, gay, bisexual, transgender, queer, and intersex people and those with other, diverse sexual orientations and gender identities (LGBTQI+) in economic growth programming. This guidance, developed through comprehensive desk research and 94 key informant interviews across 16 countries, identifies barriers to inclusion, highlights successful interventions, and proposes strategies for implementation. #HumanRights #LGBTQ #LGBTQI #SDGs #InclusiveDevelopment

As some companies scale back DEI initiatives, others are doubling down. So where does FMCG stand? In the past year, I’ve seen two diverging paths unfold. → On one side: companies quietly scaling back their Diversity, Equity, and Inclusion (DEI) programs, citing budget constraints or “shifting priorities.” → On the other: brands like The Coca-Cola Company, PepsiCo, and Unilever making bold, public reaffirmations of their DEI commitments—despite political and economic headwinds. Why the split? And more importantly—why should it matter to those of us in the FMCG industry? Let’s look at the facts: According to a 2024 Gartner study, nearly 27% of U.S. companies reduced DEI budgets this year—some citing fear of political backlash. Meanwhile, brands that have maintained DEI as a business priority—like Coca-Cola, which recently recommitted to its ‘Better Shared Future’ DEI strategy—are seeing stronger innovation pipelines and deeper brand loyalty. In FMCG, where consumers are increasingly diverse, socially conscious, and value-driven, scaling back on DEI isn’t just a reputational risk—it’s a business risk. Here’s what I’ve observed through our executive search work: - The most future-ready FMCG leaders today understand that DEI is not a box to tick—it’s a growth strategy. - Inclusive teams launch faster, innovate smarter, and connect better with modern consumers. - Boards and investors are increasingly viewing DEI as a key signal of long-term resilience and agility. And here’s what I know from experience: Inclusion doesn’t happen by accident. It’s not driven by policies alone—it’s built by leaders. That’s why FMCG companies who are serious about transformation aren’t just hiring executives who “fit the mold.” They’re hiring: → CMOs who understand how to authentically represent diverse audiences. → HR leaders who build systems that attract and retain non-traditional talent. → GMs who can lead multicultural teams across regions without defaulting to one-size-fits-all leadership. Because diversity without inclusion is cosmetic. And inclusion without leadership commitment is unsustainable. So—where does the FMCG industry stand today? It’s divided. And it’s being watched. Consumers are watching. Investors are watching. And talent is watching too. The companies that treat DEI like a trend will fade into irrelevance. The companies that embed it into culture, product, and leadership? → They’ll lead the next era of FMCG. Let’s talk about how we hire—and who we empower to lead. #FMCG #ExecutiveSearch #DiversityInLeadership #DEI #ConsumerGoods #LeadershipHiring #InclusiveLeadership #LeadershipDevelopment

I’ve stayed quiet on an issue that’s becoming increasingly difficult to ignore. Today, another colleague reached out after their DEI role was eliminated, seeking guidance on what to do next. Historically, DEI roles have not served as a direct resource or business driver for East Coast Executives. Our primary focus has always been on diversity recruitment and career strategies. However, many who have commanded these positions are more than just peers—they’ve become trusted friends and valued colleagues over the years. It’s disheartening to see these efforts reduced, but now is the moment for corporate leaders to rethink how to continue pushing the diversity mission forward, even without dedicated DEI roles. Here are three strategies to consider: 1. Embed DEI into Core Business Strategies: DEI should not be a standalone initiative—it must be woven into your company’s business goals. Make diversity, equity, and inclusion integral to decision-making processes, from hiring to product development to leadership appointments. When it’s core to your strategy, it becomes everyone’s responsibility. 2. Empower Leadership Accountability: Without DEI departments, the responsibility to drive diversity efforts needs to sit squarely on the shoulders of your leadership teams. Hold them accountable for creating inclusive environments where diverse talent can thrive. Setting measurable goals and tracking progress can help ensure that DEI remains a priority. 3. Leverage External Expertise: If you no longer have in-house DEI experts, partner with organizations like East Coast Executives to support your recruitment and talent acquisition strategy. We’ve been helping companies create inclusive hiring practices and fostering environments where diverse talent can succeed. You don’t have to do this alone—there are resources available to help you stay on course. To the corporate leaders reading this: Now is the time to act. Don’t let the elimination of roles lead to the elimination of your equity commitment. And to those DEI professionals impacted by these cuts: Know that you are not alone. East Coast Executives is here as a resource to help guide your next steps. Let’s continue this important work, together. #Diversity #Equity #Inclusion #Leadership #EastCoastExecutives

Helping create economic opportunity and growth has always been our north star. The latest playbook from 10,000 Small Business Voices, in partnership with Bipartisan Policy Center, outlines actionable strategies to help small businesses compete for workers, cut red tape, and drive innovation and tech investments. Key recommendations include: ▪ Workforce: ensuring small businesses can compete for talent by expanding benefits, affordable child care, and training. ▪ Cost of Doing Business: breaking down financial barriers with access to capital, simplifying tax policies, and regulatory relief. ▪ Innovation: sparking growth by ensuring resource providers are equipped to provide guidance on digitalization and AI. Small businesses are ready to innovate and expand, but they can’t do it alone. This playbook offers a bipartisan roadmap to address the most pressing challenges faced by our nation’s small businesses. Read the 2025 playbook: https://click.gs.com/8t9w

"Diversity isn't just a goal, it's a growth strategy." Throughout my career as a Chief People & Operations Officer, I've seen firsthand how true this statement is. Organizations that embrace diversity don't just meet quotas - they unlock innovation, creativity, and market insights that drive real business growth. Here are three ways I've helped companies turn diversity into a growth engine: - Inclusive Hiring practices: By implementing bias-free recruitment strategies, we've expanded talent pools and brought in perspectives that have directly led to new product ideas and market expansions. - Inclusive leadership development: Training leaders to harness diverse viewpoints has resulted in more robust decision-making and problem-solving across all levels. - Cultural intelligence initiatives: Enhancing teams' ability to work across cultures has opened doors to new partnerships and global opportunities. When diversity is treated as a strategic imperative rather than a checkbox, the results can be transformative. How is your organization leveraging diversity for growth?#MidweekWakeup #DiversityAndInclusion #LeadershipStrategy #OrganizationalGrowth