President Obama has talked a lot in the past year or two about “middle-out” economics—the idea that prosperity is driven not by a few job creators at the top, but by building a thriving middle class. Historically, a robust small business sector has been one key to such broad prosperity, and philanthropic efforts in this area have lately gained steam. Still, there’s not a huge number of funders focusing here in a big way, and many that do are from the business world and see a win-win in boosting mobility while expanding their customer base.
One funder in this space, as we’ve reported before, is Sam’s Club and the Sam’s Club Giving Program. Now it’s stepping things up, recently announcing the Small Business Economic Mobility initiative, a five-year investment in small business growth through increased access to capital and financial skills education. The move was unveiled during National Small Business Week.