Why Community Support Matters for Business Success
Immigrant entrepreneurs play a significant role in the U.S. economy, particularly in hospitality and food services.
According to data compiled from the U.S. Census Bureau and cited by industry analysts, approximately 29 percent of businesses in the combined restaurant and hotel sector are immigrant-owned, contributing significantly to the U.S. economy overall. This doesn’t suggest immigrants have an easier path, but it highlights how certain support mechanisms compensate for systemic barriers.
Community support is a business strategy, not a feel-good concept
When people hear “community support,” they often think of emotional encouragement. That matters, but the real power is more operational than inspirational. Community support can look like shared savings for startup costs, trusted referrals that bring in early customers, family members who help you cover shifts, or networks that connect you to suppliers, mentors, and opportunity. These informal systems reduce risk and shorten the time it takes to stabilize.
For immigrant entrepreneurs especially, community becomes infrastructure. You may not have the same access to traditional networks, inherited business relationships, or early credit history that other founders rely on. Community fills those gaps through relationships, reputation, and shared responsibility.
Capital pooling works best when it is paired with financial literacy
Pooling money within families and communities can unlock a business faster, but it is not enough on its own. Without financial structure, the same money that helps a business start can later become a source of tension, confusion, or collapse. This is where financial literacy becomes the quiet multiplier.
Financial literacy is not only about budgeting. It is about understanding cash flow m, keeping records and understanding pricing systems.
When community support is paired with financial literacy, something bigger becomes possible. You are not just building a business that survives. You are building a business that can last, grow, and become an asset.
Generational wealth is created when the lessons, systems, and assets you build can be passed forward. The ability to teach the next generation how to start smarter, avoid common mistakes, and build faster.
This is why barriers to entry matter so much. If only a few people can access training, capital, and networks, wealth stays concentrated. But when more people can enter the market with the right support, we start to change what is possible for entire communities.
Where EDACT fits in
At EDACT, our work is focused on lowering the barriers that keep entrepreneurs, including BIPOC-owned businesses and organizations, from moving from “potential” to “progress.” We are not only interested in helping people start. We are committed to helping people build businesses that are structured, finance-ready, and positioned for sustainable growth.
That is why our approach centers on practical support that strengthens capacity, improves decision-making, and makes business ownership more achievable. It is also why financial literacy is not a side topic for us. It is foundational.
For example, our financial literacy efforts, including our collaboration with Stearns Bank, are designed to help entrepreneurs build the financial confidence needed to plan, manage, and grow. When founders understand their numbers, they reduce avoidable risk. When they document properly, they increase access to formal opportunities. When they build financial habits early, they create stronger businesses that can be sustained and passed down.
Community support helps you start. Financial literacy helps you stay. Together, they help you build something that outlives you.
A simple takeaway for 2026
If you are building a business in the new year, do not build alone. Build with community, and build with structure. Find your network, but also strengthen your financial foundation. Get support, but also learn the skills that turn support into lasting results.
The businesses that thrive are rarely the ones with the “best ideas.” They are the ones with the strongest systems and the right people around them.
If you want to explore resources that can help you strengthen your business foundation, grow with more clarity, and reduce common barriers to progress, visit our website to learn more about EDACT’s training and support.