Building a Legacy Together
A Letter from ICIC’s CEO
Dear ICIC Community,
As we reflect on another year of shared accomplishments, it is my honor to present our Impact Report—a testament to the transformative role that ICIC programs continue to play in guiding, educating, and opening doors for entrepreneurs within our community.
In the fast-paced world we navigate, we remain a collective of action-oriented individuals—those who embody the spirit of getting things done. Our community thrives on being fast, flexible, and entrepreneurial, understanding that the seeds we plant today will blossom into a brighter tomorrow.
Strength in Unity
This year’s report is more than just a collection of data points; it’s a celebration of our shared achievements. As we gather in the spirit of recognition and gratitude, let us acknowledge the resilience and leadership of our alumni. Their stories inspire optimism, gratitude, and hope, reminding us that the collaborative efforts within our community create something far greater than the sum of its parts.
In the face of challenging times, our unity has proven to be our greatest strength. The obstacles before us—the nuances of Supreme Court decisions, the ebb and flow of interest rates, supply chain complexities, the racial wealth gap, and labor shortages—are challenges our small business owners confront daily. Yet, the more than 3,000 entrepreneurs—overwhelmingly BIPOC- and woman-owned—we’ve worked with this year, along with our 8,000 alumni, have stood resilient, united in the belief that challenging times can, indeed, bring us together.
Legacy Tales: Max Grossman’s Journey
Reflecting on our shared history, I am drawn to the story of Max Grossman—an immigrant (and my grandfather) who, in 1910, walked into the First National Bank of Boston seeking a $3,000 loan to pursue his dream. Max didn’t have the support of ICIC, nor the resources to learn about strategy, finance, accounting, or marketing. Yet, his belief in himself propelled him forward, and today, 113 years later, his business stands as a testament to the power of grit and determination.
Imagine the additional support Max Grossman could have received with ICIC by his side. Through the struggles of those early years and the challenges of the Depression, ICIC could have been a guiding force, offering new techniques, strategies, and tactics to navigate the storm—just as ICIC has helped hundreds of small businesses, including through multiple recessions and a global pandemic.
This Impact Report not only reaffirms our commitment to serving the needs of business owners within our underserved communities but also highlights our dedication to thought leadership in the field. Through extensive research and collaboration, we continually strive to stay at the forefront of industry trends and innovative solutions. From providing access to capital and creating jobs to promoting wellness outcomes, addressing poverty, and fostering a robust network,
our collective impact resonates.
As we move forward, let us remain action-oriented, seizing every opportunity to be part of the solution. Together, as One ICIC, united for a stronger future, we continue to build a legacy that extends far beyond ourselves.
Thank you for your steadfast dedication to our shared mission.
Steve Grossman, CEO, ICIC