Rhode Island to study ways to boost minority-owned business

PROVIDENCE, R.I. (AP) — Rhode Island is launching a $150,000 study to figure out ways to support and promote the growth of minority-owned businesses in the state, authorities announced Monday.

The study is a partnership between the nonprofit Rhode Island Foundation and the administration of Gov. Daniel McKee.

The work, which will be performed by the Providence-based Multicultural Innovation Center and national consultant Camion Associates, will create a database of Black-, Latino-, Asian-, and Indigenous-owned businesses currently in operation in Rhode Island; assess the resources currently supporting those businesses; review national best practices to build and sustain minority-owned businesses; and compile feedback from existing Rhode Island-based minority businesses regarding their needs.

Recommendations and next steps are expected by the fall.

“Supporting and growing our small business sector in Rhode Island has been one of the top priorities of our administration, but we need to ensure that growth and success are attainable for all Rhode Island business owners, especially those from underserved communities that may not have equal access to business opportunities,” McKee said in a statement.