The Mission Partners’ Social Entrepreneur in Residence is an 18-month executive-level program designed to shift capital to Black-led communications firms, in line with our Racial Equity Action Plan and our 2025 Commitment to Black and women-led organizations.
According to PRWeek’s 2020 Agency Business Report, only 8% of agency leadership identifies as Black, while 89.8% identifies as white. And, according to the Federal Reserve Bank of New York’s Small Business Credit Survey: 2021 Report on Firms Owned by People of Color, “firms owned by people of color continue to face structural barriers in acquiring the capital, knowledge, and market access necessary for growth.”
In response to the racial disparity among agency owners, Mission Partners launched its Social Entrepreneur in Residence program in September 2022 as part of the agency’s ongoing commitment to shift $2.5M to Black and women-led organizations by 2025. The Social Entrepreneur in Residence program is aimed at addressing the racial disparity in communications agency ownership.
“At Mission Partners, we believe communications is the greatest tool for social justice—and that extends to how we use our power, privilege, and advantage as a white-led communications firm. By strategically investing in business owners, we can support a ripple effect of impact, that extends to that business owner’s family, their employees, and their community. Over time, we hope this program serves as a model for others in our sector.”
Carrie Fox, Founder and CEO, Mission Partners