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Description

Job quality is vital not only for workers, but also for small businesses and communities. Yet too many jobs today miss the mark on one of the key characteristics of a good job: providing enough pay to live on. Only 56% of full-time workers in the United States make enough money to cover their families basic needs. This problem is particularly acute at small businesses. Nearly 60% of low-wage workers work at businesses with fewer than 100 employees, and 35% of low-wage workers work at micro-businesses with fewer than 10 employees. Small businesses also struggle to address other characteristics of a good job, like providing adequate benefits, stable scheduling, and a positive work culture.

Recognizing this context, in 2022, the Aspen Institute Economic Opportunities Program (EOP) launched the Shared Success project, funded by the Gates Foundation. The project supports 11 community development financial institutions (CDFIs) across the country to integrate job quality support into their small business services with the goal of improving job quality for small business employees and building business resilience. Three years later, EOP has seen how grantees have used innovative approaches to recruit, advise, and incentivize small businesses to improve job quality.

This discussion is the second of two panels from our event, “How Good Jobs Support Small Business Success: Lessons from the Shared Success Demonstration,” which took place on May 21, 2025 at the Aspen Institute’s office in Washington DC. Our speakers include Viola Mai (Director of Development and Impact, ICA Fund), Betsy Biemann (Chief Executive Officer, Coastal Enterprises, Inc.), Barbara Magnoni (President, EA Consultants), and moderator Maureen Conway (Vice President, The Aspen Institute; Executive Director, Economic Opportunities Program).

During this event, we heard from leaders of CDFIs, their small business clients, philanthropic supporters, and other experts, and we discussed the lessons learned from Shared Success, ranging from practical tips about strategies for engaging small businesses in discussions of job quality to the range of job quality improvements CDFI clients helped their businesses make. We hope you enjoy this important discussion on small business support strategies that help businesses and workers both thrive, achieving Shared Success.

For more information, including a transcript, speaker bios, and additional resources, visit our event page. And add our first panel, “Driving Innovation in Small Business Lending: Examples of How Small Business and CDFIs are Working Together to Advance Job Quality,” to your watch list.

For highlights from this discussion, subscribe to EOP’s YouTube channel.

Or subscribe to our podcast to listen on the go.

Join us on Zoom on June 26 for our webinar on Advising Small Businesses on Job Quality: Lessons from CDFIs.

Opportunity in America

Opportunity in America, an event series hosted by the Economic Opportunities Program, considers the changing landscape of economic opportunity in the US and implications for individuals, families, and communities across the country. The series highlights the ways in which issues of race, gender, and place exacerbate our economic divides, and ideas and innovations with potential to address these challenges and broaden access to quality opportunity.

Learn More

The Economic Opportunities Program advances strategies, policies, and ideas to help low- and moderate-income people thrive in a changing economy. Follow us on social media and join our mailing list to stay up-to-date on publications, blog posts, events, and other announcements.