ICIC’s Why

A Catalyst for Economic Empowerment and Inclusive Growth

ICIC is a single organization, comprised of several distinct parts, all working together towards a common mission and shared goals. We are constantly evolving, and no matter the stage we are at, our driving force remains the same—to strive for economic empowerment, job creation, and sustainable growth through innovative research and dynamic programs. Our commitment to inclusivity and equity is steadfast as we cultivate partnerships, connect diverse stakeholders, and amplify the resilience of small businesses. With every entrepreneurial success story, we reinforce the notion that, as one unified entity, ICIC continues to shape a future where every community thrives.

Since our establishment in 1994, we have been dedicated to uplifting communities and fostering small business growth in underserved areas. For 30 years, we have guided small business owners through economic distress, providing support during challenges like lack of access to capital, recession, pandemic, inflation, supply chain disruptions, and market volatility.

As we reflect on our history, this shared drive has allowed us to serve more than 8,000 businesses, with a majority being BIPOC- and woman-owned. The entrepreneurs we help are often located in under-resourced communities facing high rates of poverty and unemployment, with limited access to crucial resources for small business growth. In 2023 alone, ICIC served more than 3,000 businesses in 56 states, territories, and Canadian provinces. Of these businesses 72% percent were BIPOC-owned and 65% percent were woman-owned. 

Looking ahead to 2024, we are filled with pride, gratitude, and confidence. The positive reception of our outreach efforts in underserved neighborhoods, including communities of difference, is evident in the growing numbers and the positive impact on community growth. This achievement wouldn’t be possible without the generous support of our funders and sponsors, the dedicated efforts of our nominating partners, and the tireless commitment of our board and staff. We take this report as an opportunity to celebrate our collective accomplishments and renew our commitment to supporting a thriving, resilient, and strong small business ecosystem.

2023 ICIC Impact Snapshot

Businesses served

BIPOC-owned/led businesses

Woman-owned/led businesses

Number of cities represented

Number of states, territories, and provinces represented

Average revenues

Average age of businesses

Average number of full-time employees