Tag: 3BL

Paramount is one of the worldʼs leading producers of premium entertainment content that connects billions of people worldwide. With close to 25,000 employees globally, Paramount aims to engage employees through community partnerships and volunteerism.

Paramount partnered with Catchafire to launch Talent for Good, a program to help employees leverage their skills to support causes theyʼre passionate about.

Initially under Viacom in 2015, the program was focused on engaging US-based employees through volunteerism. Since then, the program has developed to focus on global inclusivity and connectivity, extending a wide variety of volunteer opportunities to Paramount employees around the world.

Paramountʼs partnership with Catchafire has double the impact: they provide nonprofit organizations with access to the platform’s capacity building resources, while also engaging their own employees to lend their expertise through skills-based volunteering. Organizations have received critical support in areas such as translation, marketing and communications, and business development. At the same time, Paramount is cultivating a corporate culture of giving back, from the inside out.

A global volunteer experience

Skills-based volunteering is a powerful way to foster global team connectivity and inclusivity by opening doors to diverse, meaningful opportunities for employees across the world. Through virtual and in-person options, Paramount employees can connect with nonprofits that align with their passions and skills, regardless of location. This flexibility not only allows employees to give back on their own terms but also empowers them with the agency to define what matters most in their volunteer experience. By providing access to global nonprofits, Paramount is creating a platform for employees to learn from different cultural perspectives, enhancing cross-border connections and a shared sense of purpose.

The flexibility of the program meets employees where they are, offering programming that caters to each individualʼs skills, interests, and availability. Virtual, in-person, hybrid, individual, and team volunteer opportunities are available. Employees can choose from 15 minute microvolunteering, one hour consultation calls, or full-length projects in areas like marketing, finance, and strategic planning. Board service is also available, allowing employees to connect with nonprofits and lend their expertise long-term.

At the same time, Paramount employees are able to give back to the nonprofits and cause areas theyʼre passionate about, with over 14,000 nonprofits active on the Catchafire platform. They can connect with nonprofits and volunteer opportunities that they traditionally wouldnʼt have access to locally.

By providing agency for employees to curate their volunteer experience, Paramount employees from across the globe can give back to their communities, create a culture around social impact, and support nonprofits.

Rita Papadogiannis, Manager of Corporate Social Responsibility at Paramount, says, “Our goal with this program is to truly make it feel accessible globally. It has been a collaborative effort with our International teams to ensure that we are providing a variety of opportunities that resonate with employees and are onboarding community partners that align with our companyʼs values. It’s a work in progress as we build out those offerings, but we have seen huge success so far. And another plus is that we are beginning to notice a trend of employees volunteering cross-culturally with organizations headquartered in other countries. The opportunities are endless.ˮ

How skills-based volunteering builds employee engagement

Skills-based volunteering is a powerful tool that can transform the workplace by boosting employee engagement. By aligning volunteer opportunities with employees’ professional skills, companies like Paramount can create meaningful employee engagement activities that not only benefit nonprofits but also contribute to personal and professional growth. Employees feel a greater sense of purpose and pride when they apply their expertise to real-world challenges, making this one of the most effective employee engagement strategies.

Investing in skills-based volunteering is also an investment in employeesʼ professional development. For many, volunteering is a form of upskilling, building leadership skills, and networking with leaders in the social sector. Many Paramount employees have gone on to become repeat volunteers or board members, building deeper, more impactful relationships with nonprofits.

Rita says, “Skills-based volunteering opens doors for employees to showcase their skills to higher ups and supports employee recognition programs. This type of volunteering also helps employees learn new skills, which can lead to new career opportunities in the future. If you feel good about your talents and career, your mental health and wellbeing are also positively impacted.ˮ

Skills-based volunteering and social impact

Skills-based volunteering offers corporate employees the perfect avenue to leverage their professional talents while contributing to the causes they care deeply about. This type of service not only benefits nonprofits but also helps bridge gaps in resources, empowering organizations to expand their impact and achieve their missions more effectively.

To build a work culture around social impact, Paramount offers skills-based volunteering opportunities through:

Nonprofit board recruitmentCompany-wide meetings and town hallsNew hire onboarding programsWorkplace giving campaignsTeam volunteeringAnnual day of service

Paramount volunteers play an essential role in giving back to communities, supporting underserved populations, and advancing critical initiatives like health equity, access to the arts, and civic engagement. With decades of experience in fields such as IT, marketing, and research, Paramount professionals bring invaluable expertise that nonprofits might otherwise struggle to access.

By aligning their skills with nonprofit needs, Paramount volunteers drive meaningful change in areas that might otherwise remain underserved. From creating websites for arts organizations to providing translations for non-English speakers, the contributions of these experienced professionals are transformative. Through skills-based volunteering, Paramount employees have the unique opportunity to apply their expertise to social good, creating lasting value for both the nonprofits they support and the communities those nonprofits serve. It’s a

win-win for everyone involved, fueling positive change while deepening the connection between businesses and the world around them.

Learn more about Catchafire and the Talent for Good program.

This year, Entergy employees raised $868,167 for The Power to Care, a vital program that provides emergency bill assistance to our most vulnerable neighbors, including older adults and individuals with disabilities.

Throughout our service area, Entergy employees came together to organize a series of fundraisers, including the Boston Marathon, golf tournaments, softball games, a fishing tournament, and pickleball competitions. These events not only fostered camaraderie among team members but also united everyone in a shared mission: to serve our customers and uplift our communities.

“We are immensely grateful to our dedicated employees who poured their time and energy into organizing these events to support our vulnerable customers,” said Patty Riddlebarger, Entergy’s vice president of corporate social responsibility. “This year marks the highest amount we have raised from special events in nearly 20 years, and we are truly humbled by the generosity of our employees.”

Highlights from The Power to Care 2024 fundraisers:

Entergy Texas Golf Tournament, $245,852Entergy New Orleans Golf Tournament, $150,000Entergy Mississippi Golf Tournament, $127,600Entergy Arkansas Golf Tournament, $126,868Entergy Louisiana Softball Tournament, $103,500Entergy Louisiana and Entergy New Orleans joint Watt-A-Catch Fishing Rodeo, $59,300Entergy Nuclear Pickleball Tournament, $53,035Boston Marathon, $2,012

Through Entergy’s The Power to Care program, local nonprofits, employees, and generous customers have helped provide emergency bill payment assistance to vulnerable customers experiencing a time of financial crisis. Since 2008, The Power to Care has raised more than $50 million and helped over 250,000 people in need.

The collective efforts of Entergy employees this year highlight the power of community but also reinforces our commitment to supporting those in need. To contribute or learn more about our program, visit The Power to Care. Together, we can continue to make a meaningful difference in the lives of our neighbors.

At Cintas, our identity is shaped by the diverse life experiences and unique perspectives of our employee-partners. Part of that identity is creating a work environment that is inclusive and accessible for individuals with disabilities.

One inspiring example is Ryan T., an Operational Manager at the Cintas First Aid & Safety location in Tulsa, Oklahoma. Ryan’s career at Cintas, spanning 15 years, demonstrates that with the right support and resources, all employee-partners can thrive.

Ryan, who is late-deafened, began losing his hearing around the time his oldest child was born, 18 years ago.

“Initially, you are in denial that your disability will be that bad, but eventually, you move to acceptance,” said Ryan. “This still creates some anxiety as you start to question things like how you’re going to be looked at, how it will impact your career, and how you will be accepted.” 

Ryan first started to lose his ability to hear high-frequency sounds, such as birds chirping, a loud beep from a smoke alarm or even voices from certain people. His hearing continued to decline when he was working in sales, and he opted for hearing aids, but they weren’t much help. 

Ryan decided to pursue a cochlear implant, a surgically implanted device that helps people who are deaf or hard of hearing perceive sound. While this device may improve your hearing, it also eliminates any residual hearing you once had, making you deaf without it. 

Once Ryan qualified, he had his first surgery in 2015 and his second and final surgery in 2016. Even before Ryan had his surgery, he shared how Cintas has always been accommodating to his disability instead of ignoring it.  

“Some companies may say, ‘This is all we can do for you,’ but at Cintas, they ask questions like, ‘What can we do to help you be the best version of yourself?’,” said Ryan. “There were never any questions about what I could accomplish despite my hearing disability. They were going to help me achieve the highest heights.”

One way that Cintas showed their support and accommodated Ryan was by helping him get a device that allows him to connect his cochlear implant to his laptop and phone through Bluetooth, enabling him to participate in calls or meetings seamlessly. He also says that using Microsoft Teams has been a significant help, as it allows him to read lips better when on camera, making it easier to follow along in conversations.

With accommodations and ongoing support from Cintas, Ryan has been able to hold various positions and earn numerous awards throughout his tenure, including the Summits Award, Winner’s Circle Award, multiple Quarterly Service Manager Awards, and in Fiscal Year (FY) 2024, the Divisional Service Manager of the Year and Diamond Level Presidents Club. He has also had 100 percent of his Sales Service Representatives (SSRs) place in the top 95 of the division for Winner’s Circle in both FY’23 and FY’24.

Ryan says that his journey from a Management Trainee to an Operational Manager and earning these accomplishments are a testament to how a disability doesn’t limit you at Cintas. 

“The accommodation of our employee-partners makes us so unique,” said Ryan. “Cintas has so many career opportunities for those with disabilities, and there is no limit to your ceiling here.”

It’s not just from his superiors or executive team who want to help but also from his fellow employee-partners who have been understanding and focused on being educated about his disability. Ryan encourages all partners to ask questions and not shy away from someone’s disability.

“Cintas employee-partners strive to understand one another’s situations,” said Ryan. “Our employee-partners want to be accommodating and understanding of one another. I’ve never been given any eye rolls or had people upset because of my disability. Everyone has been understanding and accepting, and those small gestures add up.”

Ryan sees his disability as a blessing in disguise. It’s opened the door to conversations like this one, and he believes the more awareness around this topic, the better off we all are.

“Encouragement, acceptance and education,” said Ryan. “These are the most important things and what Cintas has shown me and our employee-partners.” 

In today’s world, where environmental concerns are top of mind for many consumers, the scrutiny of product environmental impacts has intensified. With consumers demanding greater transparency and accountability from corporations, understanding and mitigating the environmental impacts of products has become essential. As expectations for corporate accountability rise, companies must not only comply with regulations but also meet the heightened demands of a more informed and discerning public.

SCS Global Services (SCS) Life Cycle Assessment (LCA) team supports businesses in achieving these goals. By conducting thorough LCAs and providing verified Environmental Product Declarations (EPDs), SCS empowers companies to transparently communicate their environmental performance and make impactful changes.

In this blog, we offer insights into our LCA process and explore how LCA can support companies as they demonstrate their commitment to sustainability and environmental stewardship.

What is a Life Cycle Assessment?

Life Cycle Assessment (LCA) is the systematic study of environmental and human health impacts over all life cycle stages of a product, including raw material extraction, manufacturing, transportation, use and maintenance, and disposal. LCAs enable greater transparency into supply chains and allow companies to make data-based decisions to decrease their impact on the environment.

An Environmental Product Declaration (EPD) is a verified report based on an LCA study. It is used to communicate information about the potential environmental and human health impacts of a product. It states what a product is made of and how it impacts the environment and is generally governed by rules put forth in Product Category Rules or PCRs. PCRs are category-specific standards which define how to conduct the LCA for the product category being assessed (e.g., furniture, textiles, etc.). It lays out which impacts must be reported and ensures that all EPDs under the same category report the same information.

Maximizing the Benefits of LCAs

To get the most accurate results possible, LCA practitioners collect a wide range of data from clients regarding their product and supply chain. This data collection process includes understanding what data are requested by the LCA practitioner and acquiring it from company records, after which the practitioner validates and models the data in LCA software. Data are collected for a specific time period, typically one year.

The types of data collected include: energy and water consumption, waste generation, materials and packaging used for manufacturing, and supplier locations and transportation distances. It is important to ensure that these data are correct and consistent, because even small deviations can lead to big differences in a product’s final impact results. If certain data are onerous to collect, the LCA practitioner can use assumptions and estimations based on data in literature to provide a reasonable estimation. Primary data, however, are always the most valuable and produce the best results.

Mind the (Data) Gap

A very common occurrence in LCA concerns inevitable gaps in essential data. Throughout SCS’ more than three decades of experience in LCA, we’ve learned that a common gap in data occurs because some companies may not be able to track, monitor, or curate data for energy, water, or waste at a product level across the entire manufacturing process. Instead, companies may only collect data at a facility level — and facilities often produce many different products, not just those that we are interested in modeling.

To resolve this issue, our technical team can perform different allocation approaches. Two of the more common approaches involve collecting the total mass or total revenue of all products produced at a facility and dividing the facility level data by these quantities.

For example, a hypothetical chemical facility produces two chemicals, A and B, which have similar weights. Chemical A, however, costs ten times more than Chemical B. Using economic allocation, the environmental impacts from that manufacturing facility will be allocated in the ratio of 10:1 to Chemicals A and B, in line with the economic values of the products. For mass allocation, that ratio would be 1:1. LCA practitioners generally test all possible allocation methods using sensitivity analyses for added transparency, and by providing this data, LCA practitioners can apply their expertise to ensure each product is allocated the correct impact.

Companies are often understandably hesitant to share these types of proprietary data, but this information is not published in the LCA. Furthermore, practitioners are under exclusive Non-Disclosure Agreements.

The Value of LCA Expertise

LCAs are complex studies that require highly trained technical staff. And while the process of collecting essential data is more or less straight forward, true LCA expertise is demonstrated across a much wider range of technical skills honed over decades, such as choosing the appropriate datasets for modeling, validating the data, handling data gaps, interpreting complex standards, and conducting additional research as needed to strengthen the LCA. The SCS LCA team has combined decades of experience working in a range of specialties including construction products, interior building materials and furniture, textiles, agriculture, chemicals, and recycling industries to name a few.

Small Changes Add up to Big Impacts

Performing LCAs over time and across different industries reveals several interesting and often surprising trends about the environmental impacts of products and the materials that are used to produce them. These trends help identify some small tweaks that companies can make to their manufacturing processes to reap some big benefits in terms of environmental impact.

One straightforward change is to incorporate the use of more renewable energy at the manufacturing facility. Generally, companies pull from regional grids that have a fixed share of renewable energy. This share can be boosted by installing on-site solar or wind energy generation or buying directly from renewable energy suppliers. To contextualize these benefits, the life cycle greenhouse gas emissions from electricity generated using wind are about 90 times lower than from coal.

Another interesting category of changes is material substitutions. Clinker is a commonly used raw material in the making of cement. Clinker is produced by mixing limestone and clay in a kiln at a high temperature, which releases carbon dioxide and contributes to global warming impacts. Replacing clinker with industrial waste materials like fly ash or blast furnace slag can be effective ways to reduce the impacts associated with cement manufacturing.

Additionally, procuring raw materials with a higher recycled content is another way to decrease the impact of your product. Using the cut-off method of allocation, which posits that any secondary material entering the product system comes burden-free, recognizes the benefits from the use of recycled materials. Steel, for example, can be produced using two methods: using a basic oxygen furnace (BOF) or using an electric arc furnace (EAF). EAF steel generally contains 90-95% recycled raw materials — as opposed to 30% for BOF steel. The greenhouse gas emissions for BOF steel are 1.6 times that for EAF steel, and thus replacing BOF steel with EAF steel is an effective way to decrease the impact of products that use a lot of steel.

The manufacturing and upstream materials stages of a product life cycle are often the biggest contributors to environmental impact and are also the stages that companies have the most control over. Small changes in these life cycle stages can help companies see a drastic reduction in overall impact.

SCS Global Services — Offering LCA for over 30 Years

SCS has served as a global leader in third-party environmental and sustainability verification, certification, auditing, testing, and standards development since 1984, and we have an experienced in-house LCA team that manages every aspect of the LCA/EPD process. We can collaborate with you to ensure a smooth, efficient LCA and an accurate EPD, supporting you during every step of the process. As a Program Operator, we offer two services:

LCA and EPD Development. SCS conducts the LCA and prepares the EPD report based on the appropriate PCR. We then work with an external third-party to independently verify both the LCA Report and the EPD before publishing. If a PCR is not available for your industry’s category, SCS can help with the development of a PCR.EPD Verification. If you already have completed an LCA, SCS can critically review the LCA and provide a template for the EPD. SCS will verify the EPD against the LCA report and designated PCR.

Going through the LCA/EPD process will allow you to identify the various environmental and human health impacts of each life cycle stage of your product and develop ways you can reduce them.

Learn More About LCAs

You can learn more about LCAs here. If you are interested in SCS’ LCA services, please contact us for a no- charge discussion about your project needs.

Read the full blog post 

December 4, 2024 /3BL/ – Bath & Body Works announces its inclusion on Newsweek’s ranking of America’s Most Responsible Companies. This is the second year in a row the brand has made this important list which recognizes companies that prioritize responsible business practices.

Now in its sixth year, America’s Most Responsible Companies 2025 ranking focuses on a holistic view of corporate responsibility that considers the three pillars of ESG: Environment, Social and Corporate Governance. The ranking is based on the responses of 26,000 residents in the United States who were surveyed to evaluate the corporate social responsibility reputation of public companies.

As a global leader in home fragrance and personal care, reaching approximately 40% of U.S. households, Bath & Body Works is proud of its ongoing commitment to sustainability and the well-being of all.

“ESG continues to be a priority for our business as we work to shape a future that’s resilient, responsible and filled with possibilities,” says Jeff King, Group Vice President, Head of ESG at Bath & Body Works. “We’re honored to receive this recognition that celebrates our continued dedication to taking care of the things that matter most.”

This year, Bath & Body Works made significant strides in delivering meaningful impact for its people, local communities and the planet. Most recently, the brand partnered with The Nature Conservancy and other companies on a $1.2 million water protection project in Central Ohio.

Additionally, Bath & Body Works partners with the global nonprofit Good360 to donate out-of-stock products (products unable to be sold to customer, e.g., end of season products) to nonprofit organizations including shelters, food banks, disaster recovery, and more—reducing the brand’s environmental impact while simultaneously creating positive social impact in its local communities. Bath & Body Works also won an ESG Report of the Year award for its second annual 2023 Environmental, Social and Governance report from the ESG & Sustainability Awards.

To learn more about Bath & Body Works’ ESG journey visit bbwinc.com.

ABOUT BATH & BODY WORKS

Home of America’s Favorite Fragrances®, Bath & Body Works is a global leader in personal care and home fragrance, including top-selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. Powered by agility and innovation, the company’s predominantly U.S.-based supply chain enables the company to deliver quality, on-trend luxuries at affordable prices. Bath & Body Works serves and delights customers however and wherever they want to shop, from welcoming, in-store experiences at more than 1,880 company-operated Bath & Body Works locations in the U.S. and Canada and more than 500 international franchised locations to an online storefront at BathandBodyWorks.com.

Authored by Thomas M. Puch, Nasir Mahmood, Jessica Drexler

Many organizations are now considering how to harness the potential of AI to drive business transformation and improve operational efficiency. A strategic approach to implementing artificial intelligence (AI) can help companies move from exploratory discussions to impactful solutions.

One promising approach lies in automated decision-making, where companies use AI to drive business value creation. Implementing an automated decision-making application starts with identifying specific business workflows or use cases, identifying upstream dependencies and decomposing decisions down to their atomic level. This initial analysis serves as the scaffolding to identify where appropriate AI, machine learning, statistical or automation technologies can be used.

Workflows involving high-volume decisions or unstructured data such as contracts, invoices, memos, monthly statements, repair notes or legacy operational reports are ideal candidates for automation. Companies often apply these solutions to workflows like reconciliation processes, audits, compliance reviews, revenue recognition and fraud screening/integrity validation.

Starting with AI in automated decision-making often involves the following considerations:

Process identification: Determining which specific processes or functions are suitable for automation.Business value and impact: Defining ways to evaluate and measure the solution to ensure it delivers clear benefits.Team composition: Selecting the right team to ensure successful implementation.Technical feasibility: Ensuring the solution meets technical requirements, including data security and integration.Data readiness/data governance: Confirming that sufficient, accurate and reliable data is available.Data management: Identifying opportunities to centralize data.

To maximize the value of your AI solution, prioritize these four key elements:

1. Team composition

Assembling a cross-functional team is key for a successful AI project. The team needs an executive sponsor to lead the initiative, define its goals and allocate necessary resources. The team should also include individuals who have the “know how,” which is the knowledge and skills to describe both a broad understanding of the process and deep knowledge of specific decisions.

These individuals also need to be able to explain quality standards and the evaluation mechanisms. This might include a manager who can outline the overall workflow, as well as subject matter experts who understand the finer details of specific functional areas.

Additionally, technical individuals fluent in system design, AI and machine learning, source system data sources and change management are essential. By bringing together individuals with diverse skills and knowledge, the team will be well-prepared to deliver an effective AI solution.

2. Decision management

Decision management is a framework that, when used properly, significantly increases the likelihood of achieving tangible business outcomes with AI. In fact, if Benjamin Franklin were alive today, he might have said, “An ounce of decision management is worth a hundred pounds of cure.”

Decision management is a methodology that, when used correctly, significantly increases the likelihood of your AI solution delivering tangible business value. For those interested in exploring this topic further, James Taylor’s Digital Decisioning: Using Decision Management to Deliver Business Impact from AI [1] offers deeper insights.

Decision management methodology

The first step in using decision management involves collaboratively mapping out the current or ideal logical process flow. This should be done with input from business users who understand the end-to-end workflow, as well as team members familiar with specific steps.

From here, the team should iteratively review the initial logical flow and decompose each decision to its atomic level. This step requires time and care to uncover ‘hidden’ decisions embedded within the process but not immediately visible. Identifying decisions at the atomic level is essential for ensuring explainability, transparency and measuring data bias.

Next, the team should identify internal and external information sources. These will likely include structured and unstructured data, along with any upstream analytical insights that inform decision-making. It is helpful to involve individuals who can explain the decision-making process and its evaluation from a non-technical, business perspective to ensure a complete understanding.

For each decision, consider factors such as frequency, volume and the required time horizon once all data is available. Define valid responses, acceptable response ranges and the characteristics of a “good” response. This assessment should also assess the value of both “good” and “bad” decisions, along with the time to value (TTV) –the duration it takes to realize the decision’s value. Short TTV decisions allow for quicker feedback, whereas longer TTV decisions often take weeks or even months to evaluate.

The outputs of decision management include a diagram map and a decision inventory document. The diagram map visually breaks down all decisions made in the process, highlighting dependencies such as information sources, know-how and upstream analytics. Meanwhile, the decision inventory lists each decision’s frequency, key performance indicator (KPI), volume, time horizon and acceptable responses.

3. Data management

During exploratory data assessments, it’s common to encounter gaps and limitations in both internal and external datasets. Nearly all organizations face similar challenges, the key is to devise strategies to address these gaps.

Many business leaders may not be aware of the role of AI and machine learning can play a significant role in bridging these gaps by standardizing, imputing, inferring, and classifying data to enhance data quality for subsequent AI initiatives. As a recent Gartner presentation [2] suggests, “Not having AI-ready data is no longer a ‘showstopper.'” AI and machine learning should be an integral part of preparing data for AI initiatives.

Data management for AI ready data

Implementing automated decision-making applications requires establishing shared data stores to organize and secure data with proper security classifications and access controls. These shared data stores will help safeguard sensitive information while facilitating authorized data access.

Ongoing monitoring for data drift and data bias is essential to ensure the fairness and reliability of the AI solution. Tracking changes in the statistical properties of input data and responses over time ensures that applications are accurate and reliable.

4. Organizational readiness

Integrating organizational change management (OCM) is essential for successfully adopting and embedding AI solutions. Identifying training gaps and upskilling opportunities is a crucial step to maximize ROI. Without adequate preparation, new technologies fail to deliver expected results because the workforce may default to familiar methods, limiting the impact of new tools. Providing the necessary training and support empowers the team to fully leverage the technology and tools effectively, driving meaningful and lasting transformation.

The next crucial step is ensuring that OCM proactively addresses organizational readiness and engages stakeholders to ensure a smooth transition to the new AI solution. This includes assessing readiness for change, resource capacity, developing communication and mitigating potential risks and barriers to utilization and adoption.

Early understanding of people-related impacts resulting from processes and technology decisions will enable the organization to properly prepare users for the changes ahead, building the commitment and desire needed to maximize the benefits of AI and minimize resistance, ultimately driving business value and long-term success.

Reaching the go-live stage is just one component of the journey. Beyond supporting the transition to an automated decision-making application, organizational readiness can further work to instill ownership and accountability for the successful sustainment of the transformation. By beginning with the end in mind, leaders can build a culture where people are enabled to support the organization’s goals and drive growth through the application of AI within its business systems and operating models.

How we can help

Baker Tilly’s approach focuses on identifying high impact use cases and aligning AI initiatives with your strategic goals. By focusing on actual business decision-making, we can help your organization streamline processes, enhance accuracy and accelerate realizing business value from AI.

Ready to take the next step? Contact a Baker Tilly specialist to schedule an AI discovery workshop.

PORTLAND, Ore., December 4, 2024 /3BL/ – Portland Housing Center (PHC) has received a $300,000 grant from KeyBank to expand homeownership opportunities for historically marginalized communities.

PHC aims to make home ownership possible through quality education, counseling and financial services. Its mission has evolved as the market has, and to sustain responsiveness to emergent community needs and housing market trends, PHC remains agile—creating services and products that fit customer needs, including down payment assistance with matched savings, deferred/forgivable loans, second mortgages and referrals to vetted lending partners and realtors.

This specific grant will expand outreach and support to Spanish-speaking clients to increase rates of homeownership among Hispanic/Latinx communities. By addressing the systemic barriers these populations face, this initiative aims to provide culturally relevant financial education and guidance tailored to their unique needs. Direct beneficiaries are Spanish-speaking individuals and families, particularly low-to-moderate income households within the Hispanic/Latinx community who face historical and systemic barriers to homeownership. In addition to significantly increasing homeownership rates among Spanish-speaking households, this will contribute to the broader community’s economic and social well-being, reducing the racial wealth gap and advancing equity in housing access.

“PHC knows that homeownership is vital to the health and well-being of families, and its efforts to support underserved populations squarely addresses KeyBank’s funding priorities,” says Josh Lyons, president of KeyBank in Oregon and Southwest Washington. “KeyBank has long been an avid champion of PHC’s proven model, and we are delighted to accelerate our support with this new grant.”

“We are deeply grateful for KeyBank’s generous support,” said Dana Shephard, Executive Director of Portland Housing Center. “This $300,000 grant will help us expand our outreach to Spanish-speaking individuals and families. By providing culturally relevant financial education and personalized guidance, we can help overcome systemic barriers to homeownership faced by the Hispanic/Latinx community. Together with KeyBank, we’re making strides toward equitable housing access and helping more people achieve the dream of owning a home.”

About Portland Housing Center

Portland Housing Center (PHC) is a nonprofit one-stop-shop homeownership center specializing in accessible and culturally responsive home-buying education and financial services to prepare first-time home buyers to become long-term homeowners. Founded in 1991, Portland Housing Center opened its doors as a call to action in response to declining homeownership rates in Northeast Portland caused by redlining and other discriminatory housing policies practiced by banks and mortgage lenders. PHC quickly identified a need for a community-driven, accessible, ‘housing information clearinghouse’ for renters and hopeful first-time homebuyers—especially populations disenfranchised by past discriminatory housing policies.

About KeyCorp 

KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $190 billion at September 30, 2024. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

###

CONTACT: 

Portland Housing Center | Tai Love | 469-212-2727 | TaiLove@portlandhousingcenter.org 

KeyBank | Laura Suter | 206-343-6953 | laura_suter@keybank.com

NORTHAMPTON, Mass., December 4, 2024 /3BL/ – Measuring impact is one thing—optimizing it is another. Platinum, 3BL’s premier solution, empowers organizations to transform their sustainability data into actionable insights that drive measurable results. With advanced analytics, stakeholder perception tools, and expert support, Platinum enables companies to refine their strategies, enhance engagement, and amplify their impact narrative like never before.

Platinum’s advanced analytics suite equips companies with the tools they need to navigate the complexity of today’s sustainability landscape—where evolving stakeholder expectations, competitive pressures, and audience demands intersect.

Key Features of Platinum Include:

Sustainability Disclosure Score: Quarterly reports provide actionable insights into how ratings and rankings agencies evaluate your sustainability commitments, drawing from over 1,000 sources.Stakeholder Perception Survey Report: An exclusive, annual review of how consumers and key stakeholders perceive your brand’s sustainability efforts.TriplePundit Editorial Blueprint: Expert analysis from veteran editors to enhance your messaging and boost audience engagement.

Platinum offers tools to measure impact and refine strategies with real-time data and actionable reports, along with more audience engagement metrics, content performance tracking, and distribution insights.

Want to see Platinum in action? Learn more here. 

About 3BL 
3BL is the leading sustainability and social impact communications partner, connecting organizations’ stories of purpose and progress with the audiences who matter most.

We partner with over 1,500 companies – from global corporations and mid-sized enterprises to NGOs and nonprofits – to elevate their reputations as players in the world of responsible business. We do this through unrivaled news and content distribution, bespoke storytelling support, and our digital media division, TriplePundit.

Explore more at www.3bl.com

Originally published by GoDaddy’s Venture Forward Research Initiative

Small and microbusinesses boomed in 2024, expanding their reach and impact. Agile entrepreneurs harnessed cutting-edge tech to seize opportunities, fueling growth and innovation. These nimble ventures now fuel local economies. They create jobs and strengthen communities. Their resilience and adaptability are changing the business world. They are forging connections and shaping a new economy. This groundswell of entrepreneurial spirit promises a more vibrant, interconnected marketplace for all.

Read the Full Report

Below is an executive summary of key findings and excerpts from the GoDaddy Venture Forward annual report, including an interactive map with microbusiness data points over time on digital businesses with typically fewer than 10 employees. We invite you to explore and download the full report for extended insights and an exclusive dive into what’s happening with online entrepreneurs in 2024.Report Sections

Snapshot of Microbusinesses 2024Key Entrepreneur Insights

Microbusinesses are growing

In 2024, microbusinesses are thriving from busy U.S. cities to remote U.K. communities. By adopting digital technology and AI, these small entrepreneurs surpass larger companies. Their hard work is driving post-pandemic recovery in Australia, Canada, the United Kingdom, and the United States. Innovative solutions and cutting-edge tools empower small players to set new industry standards. As markets evolve quickly, these agile firms lead the charge. Each bold move reshapes global commerce.

Ranking states by the growth in the number of their microbusinesses over the last year points to other interesting trends. While the largest states, known for their technology hubs, like New York, California, and Florida, show up in the top ten, a lot of movement and momentum is found in states of various sizes and around the country – from Delaware and Oklahoma to Washington.

Top 10 States By Microbusiness Count Growth1

State

1 year Microbusiness

Count % Growth

5 year 
Microbusiness

Count % Growth

Active Microbusinesses

July/Aug ’24

Microbusiness 
Density

July/Aug ’24

Delaware65%359%381,54338.4Montana45%61%83,1327.6Nevada36%44%601,05819.4Washington31%50%720,8369.4Colorado24%30%598,24910.4New York21%29%1,832,2989.2California14%19%4,026,19710.2Florida14%32%2,471,41211.4Oklahoma14%57%289,6667.3Wyoming14%212%112,42119.5

Every type of community saw double-digit growth in microbusiness growth over the last 5 years.

 Microbusiness Density1

Counties

1 year Active

Count % Growth

5 year Active

Count % Growth

Microbusiness Density* 
July/Aug ‘24% of all countiesRural 
Less than 70 ppl. square mile8%24%2.763%Suburban 
70-250 ppl. / square mile7%19%3.522%Urban 
More than 250 ppl. / square mile22%25%7.615%*Microbusiness Density is defined as the number of microbusinesses per 100 people

Every year, the GoDaddy Venture Forward report shares annual changes in e-commerce activity in terms of revenue, number of orders, or number of sellers by industry, as self-reported by the website owner. These insights underscore interesting trends, such as the peak of wedding-related services post-pandemic, and then a continual decrease since then.

Year-Over-Year Average Revenue Change by Industry2
(Q3 2023 – Q3 2024)

Top 5 Industries (by % Gain)Bottom 5 Industries (by % Loss)IndustryY/Y ChangeIndustryY/Y ChangeFinancial142%Writing-77%Marketing42%Personal Services-50%Software/IT29%Business-50%Religion24%Food and Drink-45%Home Services14%Wedding-23%

Microbusinesses make major economic impact

In 2021, we first revealed the outsized economic impact made by microbusinesses.

Together with economists and academic researchers, we uncovered that they drove up jobs and annual household median incomes, and drove down unemployment. Specifically, the job impact has grown from two or more jobs created for every microbusiness in 2020, to over seven jobs for every microbusiness entrepreneur on a county-level.

7+: Over seven new jobs are created by each microbusiness entrepreneur on a county-evel. In 2021, each microubusiness created just over two jobs.3

Key Entrepreneur Insights

Since 2019, GoDaddy Venture Forward has surveyed over 50,000 microbusiness owners with a GoDaddy domain and active website. Across Australia, Canada, U.K. and the U.S., most of these businesses have fewer than 10 employees, with a large portion being solo entrepreneurs. Despite their size, they are agile and resilient, consistently adopting digital solutions to adapt to changing economic conditions.

Microbusinesses are thriving, fueled by a blend of resilience and the innovative power of AI. Despite economic fluctuations, entrepreneurs remain optimistic about their ventures, betting on their ability to adapt and succeed in any climate. Regions like the South and Midwest in the U.S. exemplify this growth, with many microbusinesses planning to expand their teams in the coming year. This trend highlights not only the growth potential of digital microbusinesses but also how AI tools empower these small enterprises to innovate, scale, and thrive, even in a challenging economic environment.

The South and Midwest are the most likely to hire additional employees over the next 12 months (28%), while the West is the least likely (20%).41 out of 4 business owners with a negative outlook on the national economy still plan to hire employees in the next 12 months.4Plans to hire by U.S. region align with the growth demonstrated in microbusinesses over the last year.4

Entrepreneurs in the microbusiness sector are driven by a diverse range of motivations—from the desire for autonomy and flexibility to a passion for their hobbies and causes. Digital entrepreneurship enables them to not only make a living but also create a fulfilling life. Their ambitions vary widely: while over one-third prefer to remain solo, one in five aspire to scale their businesses to mid- or enterprise-sized operations. Remarkably, nearly three-quarters of these entrepreneurs are already generating income, with many identifying as serial entrepreneurs; one in three currently manages multiple businesses. This dynamic landscape showcases the resourcefulness and adaptability of microbusinesses, empowered by technology and AI, as they navigate and flourish in today’s economy.

1. Microbusinesses are small4

93% of microbusinesses have fewer than10 employees 55% are solo entrepreneurs 45% have employees

2. Microbusinesses generate income4

31% Main40% Supplemental29% No Income

3. About 1 in 3 currently own more than one business4

Microbusinesses also have the power to close economic and gender gaps. In the last 5 years, women-owned microbusinesses have grown 10% to now being over half of all surveyed entrepreneurs. Almost one-third are the breadwinners contributing more than 51% of their household income, and Black women continue to be the fastest growing demographic of microbusiness owners.

51% Women-Owned; +10% since August 20194About 3 out of 10 women with a microbusiness are the breadwinners in their home. (Breadwinners contribute 51% or more of their household income).413% of U.S. microbusinesses are owned by a Black entrepreneur, and of those, 73% are owned by a Black woman.4

Microbusinesses are showing resilience and optimism. They are growing by adapting to AI technologies in a tough economy. These entrepreneurs face challenges. But, they are not just surviving; they are thriving. They have an unshakeable belief in their ability to shape their futures.

Four in ten business owners who didn’t sell their previous venture at a profit currently support their households. This shows their immense pressure and high stakes. For them, success is vital for family well-being. This need drives their pursuit of growth.

Microbusiness owners are increasingly turning to AI, with more than half now comfortable using it in their operations. This technological shift reflects a broader trend of adaptation and innovation. For 36% of GenAI adopters for their business, the payoff is tangible: increased revenue. AI tools help small businesses work faster, be more efficient, and stay competitive. As challenges grow, tiny businesses tap into AI’s power. This shows that adapting to change brings real benefits in today’s fast-moving market.

AI integration goes beyond a growth strategy – it’s a lifeline for entrepreneurs who refuse to give up. Driven by optimism, they’re using technology to overcome obstacles and build sustainable businesses. By adopting these advancements, microbusinesses are starting a new era of entrepreneurship. This era is defined by innovation, adaptability, and a drive for success for themselves and their families.

4 out of 10 current business owners who previously didn’t sell at a profit are still the breadwinners of their households.4

How confident are you as a user of GenAl for your business?4

55%: CONFIDENT31%: NEUTRAL17%: NOT CONFIDENT

Over the last six months, how has your business’ average monthly revenue changed?4

My revenue increased:

28%: Not Used GenAl36%: Used GenAl

My revenue decreased:

29%: Not Used GenAl24%: Used GenAl

About GoDaddy Venture Forward

A research initiative launched in 2018 that quantifies the growth and economic impact of over 20 million global online microbusinesses, and provides a unique view into the attitudes, demographics, and needs of these entrepreneurs.

Want More Country-Specific Microbusiness Insights?

Select below to see localized research data, entrepreneur stories and reports on microbusinesses.

AustraliaCanadaUnited KingdomUnited States

1Source: GoDaddy Venture Forward 2019-2024
2Source: GoDaddy Venture Forward 2024
3Source: GoDaddy Venture Forward and U.S. Census
4Source: GoDaddy Venture Forward U.S. National Survey. February 2024 (N-U.S.= 3,565)

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