Annual Report 2023

Letter From Our

President & CEO   

Fay Horwitt, Forward Cities President & CEO

Dear Forward Cities Community,

As we reflect on the past year and anticipate the future, our mission has never felt more urgent. In 2023, amidst a backdrop of troubling anti-DEI legislation and a concerning rollback of racial equity progress, Forward Cities stood firm in its commitment to dismantle barriers and uplift underrepresented entrepreneurs. These challenging times have underscored the necessity of our work, as the entrepreneurs we support face not only the usual hurdles of business but also systemic injustices that threaten to deepen existing inequities. Forward Cities is doubling down on our efforts to increase wealth-building opportunities for Black, Hispanic, and Indigenous entrepreneurs. The best way to do that is to ensure they are surrounded by densely-connected and equitable networks of support.

Building entrepreneurial support systems that can serve a more diverse population of entrepreneurs is a complex task that requires a distinctive set of skills, and leaders with those skills are in short supply. The individuals leading this work currently have few opportunities to interact with and support each other across communities. Moreover, they tend to burn out quickly and are difficult to replace. We have concluded that this shortage of leaders is a critical constraint to achieving our long-term vision of giving every entrepreneur an equitable chance to launch and grow a business that generates wealth for themselves, their families, and their communities.

In response, Forward Cities is actively emerging two distinct action learning networks to meet these unique needs - serving as a beacon of hope and transformation.

The BWSF Durham pilot project, "Black Wall Street Mindset,” provided an interactive experience for local entrepreneurs designed to create meaningful connections and collaborations.

Black Wall Street Forward, an initiative originally designed to shift narratives for Black entrepreneurs, was expanded to include capacity building and pilot funding for local Black leaders and committed ecosystem builders. The results of the Black Wall Street Forward initiative have been promising, engendering expanded philanthropic investment. Through the generous support of funding partners, we are in the process of developing a strategic plan to scale the footprint and impact of the program.

Our emergent E3 Nation action learning network will focus on equipping community-wide entrepreneurial support systems to serve underrepresented entrepreneurs. In 2022, we piloted the network through dynamic, 3-day community learning experiences with ecosystem stakeholders and entrepreneurs in Douglas County, KS and Sacramento, CA. Partnering with EcoMap, we designed an innovative program for passionate place-based changemakers - modeling the future of the network. 

Both E3 Nation and Black Wall Street Forward are crucial to our mission, as they provide not only support but also a counter-narrative to the increasing challenges posed by regressive policies.

Our efforts have fostered robust networks that empower entrepreneurs of color to thrive against these adversities, thanks to the resilience of our community and the dedication and courage of our partners and funders. 

The E3 Durham program hosted monthly Pull-Up at Provident networking events that featured small business workshops, resource tables, and opportunities to network.

Both networks will be supported by learning labs and local initiatives designed to generate new knowledge and insights to inform the work of the networks and to build the field. Our E3 Durham program, supported through ARPA funding from Durham County affords us a unique opportunity to leverage our learnings from 40+ communities to lead an equitable ecosystem strategy and innovative model to lower the cost of doing business for Durham entrepreneurs through the implementation of a community-centric learn-to-earn program.

Looking ahead to 2024, the landscape remains fraught with challenges as well-organized and well-funded anti-DEI efforts persist. However, Forward Cities is more determined than ever to expand our impact through our action-learning networks. Our goals are not just ambitious; they are essential. Our action-learning network strategy will allow us to scale impact far beyond what would be possible through direct service alone - equipping leaders and communities across the country to build more resilient and inclusive economic ecosystems. 

I call on each of you to stand with us as we navigate these turbulent times. Your support, engagement, and collaboration are vital as we endeavor to make 2024 a year of significant advancement towards our vision of equitable economic growth. Together, we can overcome these challenges and continue building pathways to success for every entrepreneur and community we touch.

Thank you for your unwavering commitment to our cause.

Let’s continue to build forward, catalyze change, and ensure that every step we take is a step toward justice and equity.

Warm regards,

Fay Horwitt

President & CEO