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The Rising Tide Helping Business Owners in Jersey City

"A rising tide may lift all boats, but what about the people who don’t have a boat? We have to build more boats." -Alfa Demmellash

Themes: Accelerate Collaboration

As captured by a recent New York Post story, Rising Tide Capital in Jersey City was founded after BALLE Fellow Alfa Demmellash and her partner Alex Forrester saw “just how few resources there were for people who aspired to start small businesses. While there was an economic boom on Jersey City’s waterfront, they worried that its effects weren’t being seen in other neighborhoods nearby.

‘A rising tide may lift all boats,’ Demmellash says, ‘but what about the people who don’t have a boat? We have to build more boats.'”

Since then Rising Tide participants have seen 64 percent increase in sales, a 47 percent increase in income, and their use of public-assistance programs has dropped from 27 percent to 12 percent.