03.05.25
Reaching Underserved Markets in Broward County: BISA’s DE&I Rising Stars Capstone Project
by: BISA Staff
Each year, BISA recognizes a cohort of Rising Stars who demonstrate a commitment to creating inclusive and equitable environments within our industry and communities. The 2024 cohort participated in a capstone project that identified how BISA organizations can better reach underserved communities through small business education resources — looking through the lens of Broward County. At the 2024 Annual Conference, BISA fundraised for the Urban League of Broward County (ULBC), a nonprofit organization BISA will again support at this year’s conference.
Rising Star awardee Brian McBride of Huntington Financial Advisors answers a few questions about the capstone project’s goals and results in this article.
BISA: Can you give a brief rundown of the goals of the capstone project, “Financial Management for Underserved Markets Through the Lens of the Urban League of Broward County”?
Brian McBride (BM): The goal was to focus on underserved markets. For BISA, the Rising Stars and the companies we represent, we all want to further advance our involvement in these markets and communities. The goal for the project was to develop a comprehensive understanding of financial management practices, programs and initiatives of the ULBC. We set out to explore the challenges and opportunities in providing financial education, resources and support to marginalized communities in the Broward County area. Our focus was on small businesses and specific things they can keep in mind on from a financial awareness perspective: is their business secure?, is it funded?, is it compliant?, is it adaptable? and is it advertised?
How did this project choice come about?
BM: The capstone project itself is tied to the Rising Stars program. It helps ensure that those selected are committed to creating an impact, and that they are advancing DE&I efforts in our industry and communities. I believe it was selected by the BISA DE&I Committee. We were able to provide some input during the creation of the capstone and that was good; however, I enjoyed the fact that the Rising Stars group did not have full control over the capstone because it allowed us to be challenged and work on something outside of our day-to-day comfort zone.
What challenges experienced in Broward County are the capstone project aiming to help?
BM: At a high level, we focused on the challenges of small business owners. This goes beyond funding and financial management. It was about overall education in addition to information and resources that are specific to finance. There is a lot for a small business owner to think about. In addition to their business plan, start up and funding, they also have to think about the phases of business development and growth, overall planning, different types of insurances for protection, disaster relief, tax filing requirements, regulatory requirements and compliance, adaptability, going into new markets, advertising, and access to resources such as SCORE and Operation HOPE (including their 1MBB Initiative).
Can you share the project results and deliverables?
BM: BISA announced a corporate partnership with the ULBC to support their mission. As part of this partnership, BISA, alongside its members and leadership, donated more than $13,000 at the 2024 BISA Annual Convention. This capstone project provided BISA an opportunity to better understand the financial challenges faced by underserved markets in Broward Country, FL. BISA and the Rising Stars class were able to analyze the ULBC’s current financial management and small business lending programs, and their impact and then outline areas of opportunity based on specific needs. Through these efforts, BISA and the ULBC will be able to extend their reach and broaden their impact in the community.
We developed a Small Business Checklist, which is meant for the ULBC to use at events, open houses, roundtables, etc., in an effort to get business owners to engage with the ULBC. The goal is for business owners to think beyond the challenges of starting up or getting initial funding. We also think business owners from underserved groups who are already established with funding could benefit from other small business resources and education on critical topics. Our group wanted to “zoom out” from specific topics such as changes in the local economy or acquiring new customers through social medial, and more so have overarching concepts that business owners should be thinking about. Things like protecting the business, funding and ongoing money management, regulations and compliance based on the business type and operation location(s), business operations (adaptability, diversification of products/services, employee recruitment and diversification), and marketing.
The goal was to show potential areas where if it is the case that the ULBC is not currently providing support, they should look into resources for the members of their community. They can either provide the support directly or point business owners to other resources such as SCORE and Operation HOPE. Essentially, our analysis and recommendations focused on: building small business offerings (where there are gaps), expanding consulting resources and engaging community partnerships.
What is something that you learned or that surprised you as you participated in this project?
BM: How much research, collaboration and partnership are needed to successfully impact underserved and underdeveloped communities. There is so much general data, census data and available studies to comb through that it can feel like a lot. You really need great people around the table, with different backgrounds, to tackle providing financial management resources to underserved communities. Also, one does not need to be an expert on ALL business-related topics to assist others. That is where the diverse backgrounds come into play. Each person in the Rising Star class was able to assist with different areas of researching a local market, what are the needs in the community, what does it mean to establish a small business, and what does it mean to run that small business successfully.
Why do you think it’s important for organizations like BISA to give back through programs like the Rising Stars and its capstone project?
BM: In order for our world to thrive and for communities to be at their best, we as people must build connections with those around us and help strengthen each other. Individuals who are successful and have prospered, have done so because of the support system around them and/or individuals and organizations providing them resources. So, for organizations like BISA, the Rising Stars and the companies we represent, our experience and background mean we understand the importance of financial literacy and stability. Because of that, we are in a position to empower individuals and communities so that they can thrive, be successful, and contribute to a greater good.
Is there anything else you would like to share?
BM: This capstone project was a challenge for sure, eye opening and rewarding. It helped foster a sense of purpose and social connection with not only the other Rising Stars, but also stakeholders within BISA and the community being impacted.
Brian McBride is a compliance section manager with Huntington Financial Advisors. His career has encompassed roles in customer service, sales support, operations management, colleague training and development, and compliance. In his current role, McBride is instrumental in conducting the firm’s testing to verify that supervisory procedures are established and enforced as well as ensuring those procedures are reasonably designed to achieve compliance with securities laws and regulations. McBride is known for his passion in aiding the firm, fellow colleagues and the communities that Huntington serves. He maintains an inclusive and welcoming nature of all regardless of gender, class, race or socioeconomic status.
Beyond his professional responsibilities, McBride is engaged in community service, including providing financial education for youth and educating senior investors to help prevent financial exploitation. McBride’s dedication extends to the Prader-Willi Syndrome (PWS) community, where he supports other parents by sharing resources and best practices to help their children thrive.