October 16, 2024
By Sandra M. Moore | Managing Director & Chief Impact Officer
Without meaningful measurement, there is no validation of achieving the Advantage Capital mission. That’s why, twice a year, we rigorously assess the impact performance of the companies we invest in to ensure they’re driving tangible, traceable change within their communities.
When it comes to small business investing, job quality is our cornerstone of impact, which we define with four key components: (1) wages that exceed the local living standard, (2) access to comprehensive benefits, (3) opportunities for career advancement and wage growth, and (4) wealth-building programs like 401(k) plans, all aimed at fostering family stability and economic independence.
Overall, the positive effects our portfolio companies have on underserved and overlooked communities remain clear.
And our recent survey of 166 portfolio companies revealed some impressive results:
• 13,403 jobs are currently supported, with an additional 3,404 new jobs projected over the next year.
• The average full-time wage is $67,915—well above the national average.
The deeper impact data is strong as well:
• 99% of employees receive health benefits.
• 92% of companies offer a range of jobs that don’t require a college degree.
• 97% of employees have access to wealth-building programs like 401(k)s.
• 87% of employees receive training opportunities.
• 11% of companies reported that wages allowed employees to reduce or eliminate reliance on public assistance programs.
These metrics illuminate the impact we aim to achieve with our investments. Offering jobs that don’t require a college degree opens doors for individuals historically excluded from economic opportunity. Combining job accessibility with on-the-job training equips people with valuable skills, creating new pathways to career growth.
However, the availability of a job is only part of the equation. Strong wages, strong benefits, and wealth-building opportunities are crucial for economic security. With nearly half of adults struggling to afford healthcare and a quarter lacking retirement plans, these benefits can provide families with the stability they need, especially in economically distressed regions across the country.
The crucial point is data drives impact. It’s not enough to say we’re making a difference—we need to prove it every step of the way. This becomes even more apparent as our work relates to our public-private partnerships and the economic development programs we work with at both the federal and state levels. Our data capture and measurement add a layer of rigor to our reporting to ensure we are not only hitting the intended outcomes of the programs but going above and beyond and helping to shape and expand the scope of those programs to meet the ever-evolving needs of the entrepreneurs and communities we seek to support.
We’re proud to see our portfolio companies and the entrepreneurs behind them continuing to lead the way by creating quality jobs, supporting communities across the nation, and delivering real, impactful results.
Ready to dive deeper? Download our full-report infographic showing the breadth and depth of the data behind our portfolio here.
