What is Main Street Partners?
Main Street Partners is a nonprofit that seeks to create jobs and improve local inner-city economies by providing small businesses with the resources and human capital necessary to dramatically improve their business.
Main Street Partners was formed by a group of professionals from several of America’s top consulting firms who decided it was time for small businesses to have access to the same minds, research and methodologies that Fortune 500 corporations use to ensure their organizational success.
Main Street Partners consultants come from top business strategy consulting firms, such as McKinsey and Bain, top banks, such as JP MorganChase and Citi, and top business schools, such as Harvard Business School and the MIT Sloan School of Management. Together they form Project Teams to collectively leverage their experiences, training and education to help small businesses succeed.
Why does Main Street Partners Work for Small Business Owners for free?
For the following reasons:
- Small businesses are important: They make up ~80% of new job creation in urban areas
- But they are struggling: In 2009, a small business closed every 8 minutes, and 8.5 million small business jobs were lost between 2007-10
- And they won’t come back without help: Inner city businesses attract 20-50% less growth capital than average business, and inner city residents are half as likely to have a college degree than the average American
Small businesses are the heart and soul of the American economy, yet all too often they fall victim to the types of challenges that large corporations pay experts substantial sums to identify and avoid. The failure to identify cost saving or revenue generating opportunities can hurt a large corporation, but for small businesses it can mean the difference between long-lived success and failure.
Main Street Partners is able to offer free services by engaging volunteer consultants who are committed to giving back optimizing the success of American small businesses.
These consultants could choose to volunteer in a number of ways, but by volunteering with Main Street Partners they are able to maximize their impact by utilizing the skills they’ve spent their professional careers cultivating and, in doing so, have a meaningful impact on the families and businesses in their community.