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Let the needs of small business drive impact investing in local economies

Impact investors dedicated to strengthening local economies must change how they support local businesses—starting with redefining the problem the investors are trying to solve. It’s easy for impact investors to define success based on internal goals, such as filling the gaps between mainstream financiers, or creating a progressive “100% mission” portfolio. Instead, investors should define

Opportunity Zone capital flows to real estate but not to small businesses – or impact

Almost two years after the capital-gains tax cut went into effect, the conclusion is inescapable: few dollars are flowing to projects promoting equitable development or in small businesses with the potential to create local wealth and jobs.