Business Risk-Taking In Low Income Areas 101

Seek out municipal resources; hire locally; work with community leaders to avoid opposition--and other tips featured in a 'how to' guide for risk-taking business entreprenuers in Chicago.

1 minute read

August 29, 2003, 6:00 AM PDT

By Connie Chung

"Neighborhoods struggling with reputations for crime and urban blight are attracting a new breed of risk-taking entrepreneurs. They are drawn by low overheads, underserved markets and the prospect of hitting a neighborhood right before it takes off....Other entrepreneurs may not be as lucky. The process of establishing a business in a changing neighborhood is risky....Banks can be equally leery of depressed neighborhoods and may be reluctant to lend to a business interested in locating there." Economic development programs in Chicago, including the green city initiative, tax increment financing districts, empowerment zones and industrial corridor programs, are suggested as resources for business entreprenuers seeking ways to reduce risk.

Thanks to Connie Chung

FULL STORY: Seeking high payback in low-income areas

Tuesday, August 26, 2003 in The Chicago Tribune

Community / Economic Development Illinois

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I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

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