Overview

Next Street empowers small businesses in the United States by providing essential support and resources, particularly to those that are underserved. The company offers a variety of services, including access to capital, expert advice, and networking opportunities, aimed at helping small businesses thrive. They collaborate with larger corporations and public sector entities to create programs that deliver educational resources and development opportunities. For instance, their partnership with DoorDash led to the Accelerator for Local Goods, which supports diverse small consumer packaged goods businesses. Next Street generates revenue through consulting fees, program management fees, and partnerships with organizations that fund their initiatives. The company's goal is to ensure that small businesses have equitable access to the resources they need, thereby unlocking economic potential and contributing to the health of local communities.

Simplify's Take

What believers are saying

• Growing demand for digital transformation services boosts Next Street's offerings.
• City-level partnerships enhance economic development opportunities for Next Street.
• Expansion of accelerator programs supports diverse small businesses, aligning with Next Street's mission.

What critics are saying

• Increased competition from firms like Accion and Kiva challenges Next Street's market position.
• Economic downturns may reduce funding from impact-oriented investors, affecting capital services.
• Rapid technological changes require continuous updates to Next Street's digital tools.

What makes Next Street unique

• Next Street partners with corporations like DoorDash to support diverse small businesses.
• The company focuses on anti-racist practices, establishing the Inclusive Impact Committee in 2019.
• Next Street offers city-level partnerships, exemplified by the NYC Funds Finder initiative.

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