Procurement Policies Leave Local Tech Out in the Cold

Local digital marketplaces empower Black entrepreneurs

Small digital marketplaces are empowering more Black entrepreneurs to turn their passions into thriving businesses. They are creating a more diverse and inclusive digital economy.

According to a study by the Center for American Progress, Black-owned businesses are more likely to be located in low-income and minority neighborhoods. They also have less access to capital and other resources than White-owned businesses.

Digital marketplaces can help to level the playing field for Black entrepreneurs. They provide a platform for them to reach new customers and sell their products and services. They also offer access to tools and resources that can help them to grow their businesses.

Lack of investment in Chicago's South and West Sides

A new report from the University of Illinois at Chicago finds that the lack of investment in Chicago's South and West Sides has led to a decline in the local economy. The report found that the two sides have lost more than 200,000 jobs since 2000.

The report also found that the South and West Sides have a higher poverty rate and lower life expectancy than the rest of the city. The report's authors say that the lack of investment in these communities has created a cycle of poverty and disinvestment.

Solutions to procurement policy issues

Some experts say that the lack of investment in Chicago's South and West Sides is due to the city's procurement policies. These policies require the city to do business with companies that are located in the city. This makes it difficult for companies that are located outside of the city to compete for city contracts.

Some experts say that the city should change its procurement policies to make it easier for companies that are located outside of the city to compete for city contracts. This would help to increase competition and lower costs for the city.

Conclusion

The lack of investment in Chicago's South and West Sides has led to a decline in the local economy. The city's procurement policies are one of the factors that have contributed to this decline. Changing the city's procurement policies would help to increase competition and lower costs for the city. This would help to create a more vibrant and equitable economy for all Chicagoans.