{"id":4385,"date":"2025-06-03T17:04:51","date_gmt":"2025-06-03T17:04:51","guid":{"rendered":"https:\/\/entrepreneurship.asu.edu\/blog\/?p=4385"},"modified":"2025-06-03T17:04:54","modified_gmt":"2025-06-03T17:04:54","slug":"how-lgbtq-business-owners-are-essential-for-community-driven-economic-growth","status":"publish","type":"post","link":"https:\/\/entrepreneurship.asu.edu\/blog\/2025\/06\/03\/how-lgbtq-business-owners-are-essential-for-community-driven-economic-growth\/","title":{"rendered":"How LGBTQ+ Business Owners Are Essential for Community-Driven Economic Growth"},"content":{"rendered":"\n
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Photo of City of Tempe by Jodi Jacobson of Getty Images<\/em><\/figcaption><\/figure>\n\n\n

LGBTQ+ entrepreneurs are driving success in business not just by building thriving companies, but by fueling innovation, job creation and inclusive economic growth. Their resilience and creativity have a measurable impact on our economy, and their success stories are shaping an impressive future for entrepreneurship.\u00a0<\/span><\/p>\n

According to the National LGBT Chamber of Commerce (NGLCC), there are an estimated 1.4 million LGBTQI+ business owners in the United States, collectively contributing $1.7 trillion annually to the economy. <\/span>This impressive figure<\/span><\/a> underscores the vital role LGBTQ+ entrepreneurs play in fostering economic growth and innovation across various industries. As we celebrate their contributions, the data makes one thing clear: when all voices are empowered, everyone benefits.<\/span><\/p>\n

Excelling in Innovation and Job Creation<\/b><\/h3>\n

LGBTQ+ entrepreneurs bring fresh perspectives, resilience and creativity shaped by unique life experiences. These qualities often lead to bold ideas and boundary-pushing businesses. Inclusive teams and founders challenge the status quo and build solutions that reach underserved markets, fueling innovation that benefits not just their communities, but the wider economy.<\/span><\/p>\n

LGBTQ+ founders demonstrate remarkable innovation and job creation. <\/span>A report by StartOut<\/span><\/a> reveals that LGBTQ+ entrepreneurs created 36% more jobs, secured 114% more patents, and achieved 44% more business exits compared to the average founder, all while raising 16% less funding . These statistics highlight the resilience and ingenuity of LGBTQ+ business leaders in driving economic advancement.<\/span><\/p>\n

These achievements don’t happen in isolation\u2014they’re often rooted in strong, supportive communities. These communities serve as catalysts for access, collective success and lasting impact within entrepreneurial ecosystems.<\/span><\/p>\n

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Gabe Hagen and Jesse Shank, co-owners of Brick Road Coffee<\/em><\/figcaption><\/figure>\n\n\n

Benefits of Community Building<\/b><\/h3>\n

Connection, mentorship and shared resources help founders overcome barriers and scale their ideas, making community one of the most powerful assets an entrepreneur can have. Beyond networking, it offers support, accountability and real-time feedback from peers who understand the unique challenges of building something from scratch or scaling to the next level. Strong communities help entrepreneurs solve problems faster and access opportunities they may not find alone.<\/span><\/p>\n

You can usually find communities that fit your needs and here are a few ways to get started:<\/span><\/p>\n

Start Local<\/span><\/p>\n