Access to finance is the key issue highlighted by global majority organisations in terms of growth

Financial barriers are one of the biggest barriers to growth in  businesses as  they  may  not  have  the  capital  spend  in  research and  development  in  order  to  grow.   

The key finding here lies in the need for disruption from a grant based model to investment led model of finance. Current models do not allow for sustainability or aspirational needs of communities ie technological or scientific advances, sustainable business models or sustainable development goals. Even the premise of the wider  investment community investing in young people or social business in innovative ways ie development of fintech, financial sponsorship/hosting could transform limits within grant led model.

Key New Approach: Novel Investment Models not Grant Only based inclusive of newer forms ie financial technologies

The organisation lies at the heart of economic sustainability  and the value  and organisational structures, business practices and staff are integral to progress.

Organizational barriers include managerial capacity and capability, skills and knowledge, objective of firm amongst others.

Key findings here lie in organisational structures that lack resiliency, opportunities for diverse technical knowledge among staff and innovative data/digital infrastructure covering partnerships, strategies, research and monitoring and evaluation.

Key New Approach: Smarter Organisational Infrastructure and tools for resilient business practices, knowledge based economic needs ie data and digital products and services for staff recruitment, research and development, evaluations, continued professional development

There is a  the  need  for  networking,  trust  and  developing  social  capital between  organisations and communities   as  ways  of  stimulating  development  and  growth  of  black/global majority  led enterprises and organisation. Creating  strong  social  capital through communication, wider networks within diverse sectors   can  help  business  owners  grow  their  business  through  contacts.  recognition  of  new  opportunities and expansive new  market  and  acquiring more  financial capital.

The key finding  is that at all scales and sectors the need for wider networks is profound.  Opportunities for greater use of networks must link directly to development of social, financial, human, intellectual, cultural and experiential and how the build up of these link to greater economic growth.

Key  New Approach: Smarter networks (cyber physical infrastructure) focused on building social, financial, human, intellectual and cultural capital that is evidence base and linked to economic resilience.

External barriers to growth are linked to the market/sector in which the organisation operates. Besides Porter’s five forces as below. The key findings highlight the underuse of cooperative/ collaborative/collective practices vs competitive models. Many black/global majority led organisation and communities wish to challenge this model as being unconstructive to their needs but power imbalances with funders and other stakeholders limit their influence. This is a prime opportunity for smarter city models to come into play

Porters Five Forces from Non-Profit perspective

Bargaining Power of Service Providers (Suppliers): How much influence do sub-contractors or partners providing services (English proficiency classes, job training programs, mental health services, etc.) have on the organization? Providers gain power as their services become central to the mission and vision of the organization.
Bargaining Power of Grantmakers (Buyers): Grantmakers are essentially “purchasing” the social impact provided by the organization. If they can “get” a similar or superior product from another organization, they will “buy” their mission/vision instead.
Competitive Rivalry: There are numerous organization providing similar services to the area’s homeless population, for example. Therefore, it is important for public sector leadership to understand the gaps or competition in the market.
Threat of Substitution: How likely will a grant maker or community member switch to a competitor? If switching costs are low and similar organizations exist, there may be a serious threat of substitution.
Threat of New Entrants: With grant funder loyalty or high fixed costs, the threat of new entrants can be limited. However, if the demand for a particular service is high and fixed costs are low, new organizations or programs may enter the market.

https://www.cascade.app/blog/porters-5-forces#:~:text=Porter’s%20Five%20Forces%20are%20Threat,needed%20to%20make%20strategic%20choices. 
https://collegeparkstrategy.wordpress.com/2014/10/16/porters-five-forces/

Complicated  laws,  rules  and  regulations  can  be  big  barriers  when  it  comes  to  growth  of  community/voluntary sector, smaller grassroots or black/global majority led organisations. 

The key findings highlighted include  the sometimes unintended exclusionary practices in policies and government strategies.  Long term Data Strategies did not  support  the  growth  and  development  of  black/global majority led firms which includes grassroots, community and voluntary sector organisations.  Policies/Rules/Regulations that may promote inequity  in  business dealings  becomes a   potential   barrier  to  the development and growth strategy longer term.

Key New Approach:  Smarter strategies linking assets, resources and capabilities to policies within different sectors and at different scales