Place-based management models encourage collaborative, holistic, and integrated approaches to preserving a neighborhood’s physical, civic, and social environment. In contrast to traditional top-down approaches, place-based approaches are often spearheaded by community-based organizations that use bottom-up strategies to understand and address the needs of residents and small businesses. Place-based initiatives can transform disinvested areas by involving small businesses, residents, and other stakeholders in the development and implementation process. These initiatives often leverage local assets to improve the effectiveness of small business services, support entrepreneurs of color, and improve underinvested corridors.
