What does it take to succeed as a small business owner in today's economy? According to former Biden administration official Jonathan Lovitz, it's not just about surviving but ensuring everyone has an equal opportunity to thrive. As the director of public affairs & senior adviser at the US Economic Development Administration (within the US Department of Commerce), and the former senior vice president of the National LGBT Chamber of Commerce, Lovitz knows a thing or two about it. Lovitz advocates for policies that lift all boats, especially those of marginalized entrepreneurs.

In this episode of Living Not So Fabulously, Lovitz spoke with hosts David & John Auten-Schneider and explained how supporting diverse communities, particularly LGBTQ+ business owners, is key to building a stronger, more resilient economy for everyone.

Lovitz underscores the importance of access to capital, opportunity, and growth for small businesses, regardless of background. He emphasizes that inclusive, "place-based" economic strategies empower entrepreneurs to succeed within their own communities. “When one of us rises, we all rise,” he says, highlighting the collective power of diverse business owners who contribute nearly $2 trillion to the U.S. economy each year.

For Lovitz, it’s about opening doors and creating space for everyone to compete—not giving special treatment but ensuring equal opportunity for all.

Hosts and husbands of Living Not So Fabulously, David & John Auten-Schneider, dive into real money stories with activists, allies, artists, tech-gurus, and trailblazers in the LGBTQ+ community to give you tangible takeaways to tackle your wallet woes.

Find this episode's transcripts and more episodes of Living Not So Fabulously at http://finance.yahoo.com/videos/series/living-fabulously/.

Have a money story of your own? Questions? Fan mail? Email us at [email protected].

00:00-Jonathan Lovitz joins Living Not So Fabulously

02:20-What should small businesses focus on in Trump 2.0

07:30-Challenges for LGBTQ+ business owners

14:15-Behind the scenes of the Biden administration

19:30-Bridging gaps using...football?

Yahoo Finance's Living Not So Fabulously is hosted by David & John Auten-Schneider, and created and produced by Rachael Lewis-Krisky.

Jonathan Lovitz is dedicated to helping governments, corporations, and nonprofits build strong economies and communities. In February 2023, President Biden appointed Jonathan the US Department of Commerce to join the senior leadership team of the US Economic Development Administration (EDA). He recently served as Senior Vice President & Special Advisor to the National LGBT Chamber of Commerce, continuing a career spanning the worlds of business, public policy, media, and community advocacy.

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