Equitable Wilmington Collaborative Small Business Market Analysis

Wilmington, Delaware booms with large business and corporations, but it also has many small businesses. Among other factors, small businesses took a significant blow due to the pandemic and racial tensions throughout the US. Equitable Wilmington commissioned ESI to conduct a market analysis to advise Equitable Wilmington to better support their small businesses.

The market analysis contained data based on publicly available information regarding the context in which small business operate in Wilmington. An interactive map was also created to show where small businesses were located throughout the city.

From the map, it reiterates how largely affected small business are due to COVID and racial issues. It showed that small businesses of color are not given access to the same business capital and resources as other small businesses are. Many small business owners believe that Wilmington is a great place to do business, but it can be improved by having critical interventions such as aggressive remediation of crime and blight, green space and streetscape enhancements, and transportation infrastructure investments, to safeguard a conducive environment for them and their customers.

ESI’s recommended interventions for Equitable Wilmington are:

1. Perform target assessment, outreach and funding for the most disenfranchised and hardest his businesses.
2. Market the proper resources and products that are often not in place for the city’s smallest businesses.
3. Enhance industry-specific strategies, funding, and flexible capital
4. Counter negative influences that adversely affect the physical aesthetic of commercial corridors.