New Student-Led Service Supports DC Small Businesses in Underserved Communities

Georgetown University's McDonough School of Business has launched the Small Business Corps (SBC) to empower and support small businesses in urban and rural under-resourced communities in the District of Columbia, Maryland, and Virginia (DMV) region through tailored, student-led consulting services.

In partnership with Bank of America, PNC, and Boston Consulting Group, and with support from a generous alumnus, SBC students are matched with select small businesses to address complex problems facing their organization and help them achieve long-term stability and success in the local economy.

"We see business as an answer to the world's most challenging problems, and as a Jesuit institution, it is our responsibility to transform these challenges into opportunities so that business serves the broader world in a meaningful way," said Paul Almeida, dean and William R. Berkley Chair at Georgetown McDonough. "The Small Business Corps is a wonderful example of how we bring this mission to life through meaningful business engagement, immersive student learning opportunities, and ongoing support in our local community. We look forward to seeing the impact of this program for many years to come."

The program was founded by Patrick McCloskey (B'88, P'18, P'19, P'24) and Chris Pilkerton, who recognized the need for greater small business support for minority-owned businesses that have historically faced economic and social barriers to local business growth - a challenge that was further compounded by discrepancies during the pandemic.

"The importance of small businesses across our country cannot be overstated, yet they continue to face obstacles that limit their capacity for success, ranging from limited access to capital, knowledge gaps, and a lack of local support and resources," said McCloskey. "The SBC is in direct response to this problem as we work to mobilize the energy and passion of the next generation of business leaders to support the people in our community that need it most."

McCloskey and Pilkerton sought an institutional partner for the SBC that aligned with their values-based approach to business and emphasis on serving the broader community.

"Having both come from a background in Jesuit education, Patrick and I understood the impact of pairing this program with a university that uses business as a force for good in the world - and Georgetown was an obvious choice to realize this vision," said Pilkerton. "The SBC's partnerships with Georgetown and other corporate sponsors are rooted in a mission of caring for others, solving real-world problems, and making a difference."

Facilitated by Georgetown's Business for Impact, small businesses that engage with the SBC are teamed up with a group of passionate graduate and undergraduate business students with the relevant skills and expertise necessary to meet organizational needs and job specifications - ranging from marketing and sales strategy to market expansion to financial resources management to operational support. At the beginning of each partnership, a project brief is developed in collaboration with the small business and student consultants that clearly outlines the goals and deliverables of the project.

Each student applicant is evaluated based on their relevant experience, commitment to serving small businesses, and professional and interpersonal skills. They are then provided with training on the small business ecosystem and consulting methodologies to position them for success with their client. Over the course of the project, students receive ongoing mentorship and guidance from Georgetown professors and consultants at Boston Consulting Group.

"Being associated with the Small Business Corps wasn't just enriching, it was deeply satisfying," said Kyle Wagner (MBA'24), a recent SBC consultant. "They bridge the gap between those who can help and those who need it, and the diverse team makes the projects even stronger. For any student who wants to learn, make a difference, and give back, I'd say that the Small Business Corps is the place to be."

Over the summer, the SBC celebrated the culmination of two pilot cohorts, matching 26 student consultants with 12 small businesses in the DMV for over 9,000 consulting hours. This fall, the SBC paired 14 students with six businesses and intends to match 25 students with 12 local businesses in the spring semester.

"The SBC student consultants analyzed our business like detectives," said Lisa Williams, founder and principal of Cap8 Doors and Hardware. "They impressed us with their attention to detail and fresh ideas and gave us a clear plan for our company's growth. We were so impressed that we decided to come back to the SBC and take up another project. If you're a small business owner feeling stuck, Georgetown's student consultants are truly exceptional."

The pilot clients also saw an immediate impact from working with the student consulting teams - resulting in key business insights that could be directly implemented into their core operations.

"The student's market research provided insights that we were able to apply to our farmers market operation, which allowed us to increase our revenue by 25% by the next week," said Patrice Cunningham, owner of Tae-Gu Kimchi in Washington, D.C.

As the program increases access to consulting services in the DMV region, the SBC sees the potential for expansion to other universities and institutions across the United States.

"The need for small business resources and support is not unique to Washington, D.C. - this is a nationwide issue that requires innovative solutions to drive impact," said Michael O'Leary, senior associate dean of graduate and executive degree programs at Georgetown McDonough. "Through intentional partnerships and sustained success over time, we look forward to exploring new ways to bring the SBC format to other regions across the country."

For more information about the qualifications and how to engage with the SBC, please visit sbc.georgetown.edu.

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