CO.STARTERS 2020 Impact

2020 IMPACT REPORT A Year of Rebuilding

A NOTE FROM OUR CEO Friends, 2020 wasn’t what any of us expected. Yet, despite the challenges it brought, the year provided a good opportunity to pause and refocus on what was important. A small business ourselves, we were forced to step back, reevaluate what our customers needed, and do more with less. We focused on what we do best—helping individuals and communities thrive through entrepreneurship. We went back to the basics.

In doing so, we made some great strides as a company in 2020: We released an updated version of our signature program, CO.STARTERS Core (2020), with new and improved program supports.

We responded to the pandemic with our Road to Recovery initiative and developed new offerings (Rebuild, Refocus, Straight Talk for Starters) for businesses needing help adjusting to the changing landscape.

We used customer feedback to improve our pricing model for communities.

We streamlined our organizational structures and systems to be more efficient and effective.

As we leave 2020 behind us, history indicates that we are about to see a major boom in entrepreneurship. All the tumult of the past year—economic recession, reevaluating priorities, major life changes— has created an environment ripe for new businesses.. The work CO.STARTERS does in helping entrepreneurs find the best way forward is more important than ever in 2021 and beyond.

Enoch Elwell Founder & CEO

WE STARTED ON MAIN STREET From the beginning, CO.STARTERS pioneered a community-based approach to economic development. Starting in 2008 in Chattanooga, Tennessee as part of a fiveyear revitalization effort called CreateHere, we recognized a growing need to provide business support.

We focused on real community needs—jobs, revitalization, and growth opportunities for local talent. Through our early work with entrepreneurs, we found that simultaneous business and community support led to the ability to transform Main Street.

From our small beginnings, the CO.STARTERS network today consists of thousands of success stories around the world.

2020 LIFETIME IMPACT

CO.STARTERS equips individuals and communities to thrive through entrepreneurship.

+

+

19,400

300

Communities engaged

Entrepreneurs served

+

1,200

65%

Leaders trained

Female founders

2020 SNAPSHOT ENTREPRENEURS

COMMUNITIES

LEADERS

3,700

70

200

+

CO.STARTERS Core, Refocus Workshop, Rebuild & Straight Talk for Starters

+

22 states, 6 countries

+

equipped through our community training process

INDIVIDUALS THRIVE IN COMMUNITY We believe small business is the backbone of communities, and there are good ideas that need to be brought to market. The CO.STARTERS Core program is designed to help early-stage entrepreneurs find the best way forward so Main Street can flourish again.

In bringing people together to learn from one another and creating a strong network of support, business owners focus on practical next steps and move quickly toward their goals.

2020 ANNUAL IMPACT

Male

147

Multi-racial Hispanic

Female Black

Cohorts

White

GENDER

RACE 65+

2,095

45-64

Entrepreneurs served

18-24

25-44

AGE Creative

INCOME 30% earn less than $50k

Products & Retail

CAPITAL 40% of funding comes from personal sources

INCREASED KNOWLEDGE

90% of graduates report confidence in knowing how to start and lead a venture.

Other

Health & Wellness Food & Beverage

INDUSTRY

INCREASED CONFIDENCE

INCREASED CONNECTEDNESS

97%

79%

of graduates report confidence in knowing their next step

of graduates report feeling connected and supported by their local community

REFOCUS. STABILIZE. RECOVER. As small businesses navigated the COVID-19 crisis, CO.STARTERS saw an opportunity to help. For Main Street to thrive, we needed to help build resilience in our small businesses.

The CO.STARTERS Rebuild program was our response to help small business owners refocus their businesses, stabilize, and build toward long-term recovery.

2020 ANNUAL IMPACT

Male

16

Female

Cohorts

GENDER

Other minority Black White

RACE 65+ 18-24

101

25-44

45-64

Entrepreneurs served

AGE Professional Services

EMPLOYMENT

Other

95% maintained or grew staff

REVENUE

Products & Retail

Food & Beverages Health & Wellness

INDUSTRY 81% maintained or increased revenue

INCREASED RESILIENCE

INCREASED CONFIDENCE

INCREASED CONNECTEDNESS

96%

88%

75%

of graduates report confidence in knowing how to adapt business to a challenge

of graduates report confidence in knowing their next step

of graduates report feeling connected and supported by their local community

LET’S BUILD A BETTER LOCAL ECONOMY TOGETHER. When we launched our initial program in our hometown of Chattanooga, Tennessee, we learned early on that many of the people in our community who needed help didn’t see themselves as entrepreneurs or business owners. They had a very early stage idea—more of an inkling or dream—that wasn’t quite fully hatched or ready for the type of support our community offered at the time.

They needed help getting their ideas further along in order to really take advantage of those offerings. They needed to be assured that their ideas were, in fact, businesses. By widening the funnel and offering programming that appealed to creatives, makers, doers, dreamers, and tinkerers (who we fondly call “starters”), many more businesses were started in our community than would have otherwise launched.

We can help you achieve the same success.

Learn more at costarters.co.