The impact of inclusive entrepreneurship cannot be measured solely by the number of businesses launched. When we create equitable access to the economy, we generate individual and household prosperity as well as broad community and economic benefits that can be felt many years into the future.
RMMFI uses a Social Return on Investment (SROI) framework to measure and communicate the broad, long-term impact of our work. By combining our program outcomes with external research and financial metrics, projecting results over five years, and factoring in risks and unknowns, we can calculate — and prove — our social and economic impact.
Our latest SROI analysis shows that for every $1 invested in RMMFI, we created $4.33 in measurable social and economic impact. In the long term, the ripple effects of our work over the last year will generate $14,779,900 in entrepreneur and community benefits. $9,501,885 of that represents direct impact to entrepreneurs through benefits like increased financial stability, better life outcomes, and increased capital and investments. $5,278,015 represents impact for our community in the form of decreased emergency assistance needs, increased public safety, and increased local tax revenue.
We created 54% more impact than we did the previous year and 236% more impact than four years ago when we first began calculating our SROI. This significant increase is the result of greater grant and loan access, stronger business outcomes post-COVID, more focus on supporting formerly incarcerated entrepreneurs, stronger connections to peers and networks, and more programs across the state at a lower overall cost.
We invite you to read more about our SROI analysis and celebrate the incredible impact Colorado entrepreneurs create for their families, their businesses, and our shared community.
