New business startups thrive in times of stress and change, making this – hopefully, the back end of the coronavirus pandemic – the time the Central Massachusetts business community can bring its resources to bear to support our newest entrepreneurs.
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New business startups thrive in times of stress and change, making this – hopefully, the back end of the coronavirus pandemic – the time the Central Massachusetts business community can bring its resources to bear to support our newest entrepreneurs.
The region already has a decently strong foothold in startup culture with incubators like Massachusetts Biomedical Initiatives and WorcLab, supporting organizations like the Venture Forum and SCORE, and networks like the Small Business Development Center at Clark University. Throw in the new arrival of Lowell organization Entrepreneurship for All, or EforAll, which specializes in helping those from underserved populations, and you see the formation of a robust system for helping innovative ideas become successful businesses.
For this system to truly be successful, it needs the collective talent and brainpower of the entire business community, which is why it is incumbent upon Central Massachusetts leaders to provide their services to these organizations. Beyond just volunteering on boards and taking would-be entrepreneurs under your wing (which is also very important), this means these organizations and the startups they create need funding and investment to stay viable over the long term; and they need professionals like lawyers, accountants, and marketers to help them navigate the economic landscape.
With unemployment hitting the double digits during the early stages of the coronavirus pandemic and still nearly triple its pre-pandemic levels, many talented Central Mass. professionals are out of work and looking for the next step forward. At the same time, the pandemic has changed the economy, too, with a next-level need for innovation to solve a whole new set of challenges. This is a strong recipe for a significant increase in new startups and economic solutions, and with a strongly supported entrepreneurship ecosystem, Central Massachusetts could emerge from this year-long crisis as a leader in nurturing young companies.
We just have to step up.
All the pieces are here in Central Massachusetts: the talent, the experience, the drive to be the best, the leaders who can show the way. If we can bring it all together, the end result of this pandemic will be Central Massachusetts emerging stronger than it was before.
