Ananya Bhavsar
Pronouns: she/her
Research Mentor(s): Emeric Dongmo
Research Mentor School/College/Department: ProsperUs Detroit / NonUM
Program: UROPF
Session: Session 7 (4:40pm – 5:30pm)
Authors: Ananya Bhavsar, Emeric Dongmo
Abstract
These past two semesters, I partnered up with ProsperUS Detroit to work on a project involving economics, finance, and community-engaged research. The company, which is a nonprofit organization, supports entrepreneurs with opportunities and capital needed to build businesses, generational wealth, and vibrant neighborhoods. ProsperUS Detroit partners with smaller business owners and entrepreneurs in underprivileged communities within Detroit. The project being completed is community-engaged research (CER) because it focuses on helping smaller businesses in need; its research aspect looks into analyzing financial and social capital to strengthen connections and create more prosperous neighborhoods. The main work of ProsperUS Detroit refers to lending, business services, training, and financial coaching. The idea of lending provides access to capital through a relationship-based lending process designed to meet a business’ needs. Business services refer to coaching entrepreneurs, connecting them to service providers and professionals, and providing grants to support project investments. Training supports emerging entrepreneurs as they progress via a cohort-based business planning class paired with one-on-one support. Lastly, financial coaching helps entrepreneurs gain confidence and develop empowered habits for managing personal finances and credit. The challenge of this project was mainly finding a solution from the data analyzed; the goal is similar to a consulting project. I have gained a lot from this project, more specifically, tangible analytical skills, communication skills, data analysis, and comprehensive skills through literature reviews.
