The Polsky Exchange Year in Review 2024

2024 Polsky Exchange Summary Report

In 2024 the Polsky Exchange continued to be a cornerstone of innovation and entrepreneurship on Chicago’s South Side. Through its work and meeting spaces, Small Business Development Center, and full calendar of programming and workshops, members made big steps in launching and scaling their businesses.  

EMPOWERING ENTREPRENEURS

Throughout the year, Polsky Exchange member businesses continued to grow, securing millions in new funding and creating hundreds of jobs. Among the 217 reporting businesses, revenues increased or remained steady for nearly half (48.4%). Members collectively generated more than $50 million in revenue and contributed significantly to job creation — with 393 full-time, 298 part-time, and 610 contract positions reported across reporting businesses. Nearly two-thirds (62.4%) of members reported increasing payroll expenses — a sign of advancing economic opportunity on Chicago’s South and West Sides.

Entrepreneurs also achieved major milestones in capital access, collectively securing $3.1 million in equity investment, $4.4 million in grant funding, and $3.1 million in loans. In addition, Exchange members showed confidence in fundraising and pitching, with 117 businesses entering pitch competitions and 12 earning a combined $332,000 in winnings.

PROGRAMMING HIGHLIGHTS

Through its mix of programs, workshops, and advising, the Exchange continued to empower founders to grow and scale their businesses. From the Small Business Development Center and Small Business Financial Fundamentals program to the South Side Business Development Internship and Small Business Growth Program, entrepreneurs received tailored support in accessing capital, building their financial capacity, and refining growth strategies.

Programs like Innovate2Market, Market Navigator, and the E-Commerce Learning Lab helped local inventors and product-based businesses strengthen market readiness, explore new opportunities, and expand online sales. Meanwhile, the Tech Enablement, Access to Capital, and Business Acumen workshop series equipped founders with the tools and knowledge to lead confidently in a rapidly evolving business landscape.

Together, these efforts reflect the Polsky Exchange’s ongoing commitment to innovation — supporting entrepreneurs, strengthening local economies, and driving meaningful impact across Chicago.

To lean more about how our members performed, explore the detailed full report here >>

The Polsky Exchange reports are generated from data collected from our membership base, and our findings guide the programming and strategic direction of Polsky Exchange initiatives. Thank you to our members for sharing their key business metrics as they plan for growth and scale.