Starbucks Helps Job Crisis With Nationwide Fund
Starbucks initiates project to help low income communities with infrastructure and small business growth
Starbucks, the largest coffeehouse company in the world, is looking to give unemployed Americans a chance to regain their footing in the recession stalemate. The company launched a nationwide fund to stimulate U.S. job creation Monday.
The Seattle native company introduced the “Create Jobs for USA” fund, in partnership with Opportunity Finance Network, to provide affordable loans to low income families –thus boosting small business growth.
According to the “Create Jobs for USA” website, small businesses are the backbone of America, producing 65 percent of new jobs in the past 15 years.
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As of May 2011, there were over 27 million documented small businesses in the U.S., compared to 60 million in 2006.
The website's logic deduced that more small businesses equals more job opportunities.
Along with giving a $5 million donation to the Opportunity Finance Network, Starbucks will also accept donations at all of its American cafes.
Those who give a donation exceeding $5 will receive a red, white, and blue woven wristband reading “Indivisible” on a metal plate.
For every $5 donated by Starbucks patrons, $35 will be given to the Opportunity Finance Network, which will then use the earnings to drive growth in disadvantaged communities through improved housing, schooling, and construction of small businesses.
Some critics see Starbucks' attempt to help small business as ironic, because they often blame such mega-corporations for stealing business from privately owned "mom and pop" stores.
However, analysts beg to differ.
In his 2009 book Everything But the Coffee: Learning About America From Starbucks, Bryant Simons argued that Starbucks set the standard for an authentically delicious cup of coffee – which has implemented the competitive chase that keeps small coffee shops in business.
This corporate approach at job growth comes in the wake of President Barack Obama’s fiery speech in late Sept., urging Americans to take action to improve American way of life.
“Stop complaining, stop grumbling, stop crying, and let’s fight to make things better,” Obama told the black caucus.
This corporate impetus served as a tangible resolution to the job crisis in America. It also developed in light of Obama’s $447 billion jobs package, which focused primarily on heavy tax cuts and infrastructure rebuilding, especially in schools and emergency workers.
Giving money to the Opportunity Finance Network stands in accord with Obama's job package because it directly provides money to improve the infrastructure of low income families and communities.
Other corporations chose to go straight to the source, by offering mass hiring opportunities.
Corporations like Chrysler, Terminix, and Sears have made this week's "Top Ten Companies Hiring," according to aol.com. Other mega corporations like Google have made headlines by offering increased job opportunities throughout 2011.
