10/02/2026
Chicago is home to 687,000 small businesses, which support more than 1 million jobs across the region. They create jobs, strengthen commercial corridors and provide goods, services and gathering spaces that help communities thrive.
This week, The Chicago Community Trust and the Fund for Equitable Business Growth (FEBG) brought together entrepreneurs, funders, nonprofit partners and civic leaders for State of the Block, an event that marked the public launch of new research from Next Street examining what has changed across the Chicago region’s small business ecosystem since 2018 and where opportunities remain to help more businesses grow.
The research points to a central challenge: The Chicago region has strong entrepreneurial activity, but too few businesses are scaling. While the region has seen an increase in entrepreneurial activity, much of that growth has come from businesses without paid employees, and employer business growth has remained nearly flat. The report also finds that barriers to capital, networks, customers and business support continue to shape which businesses are able to grow, hire and build wealth.
Sara Dinges of Next Street walked attendees through the findings before Nathan Stevens of The Coleman Foundation moderated a conversation with Earl Grandberry of The Chicago Community Trust and FEBG, and small business owners Ari Krzyzek of Chykalophia, Elias Majid of Eli Tea Bar, and Ashunta Sheriff-Kendricks of Ashunta Sheriff Beauty.
Together, they brought the research to life and explored what entrepreneurs need to sustain their businesses, reach their next stage of growth and continue contributing to their communities.
At the Trust, we believe strong and sustainable neighborhood-based small businesses are essential to creating economically resilient communities. By supporting entrepreneurs with access to capital, technical assistance, education and stronger connections, we can help businesses grow as neighborhood assets and employers, strengthen commercial corridors and expand opportunities for local economic participation.
The research is a starting point. What comes next depends on what we do with it.
Read the report: https://bit.ly/4hYNoHu