Target’s impact on small businesses and entrepreneurs – Target Corporation

Target Corporation’s Contribution to Sustainable Development Goals through Small Business Empowerment

Fostering Economic Growth and Decent Work (SDG 8)

Target Corporation’s initiatives to support small businesses directly contribute to the achievement of Sustainable Development Goal 8, which promotes sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. The corporation’s strategy focuses on incubating and launching new brands, thereby fostering entrepreneurship and creating economic opportunities.

• Over the past five years, Target has successfully launched over 750 brands, each projected to surpass $1 million in annual sales.
• A cohort of over 75 exclusive small entrepreneurs has generated more than $1 billion in collective sales since their launch.
• Since 2024, Target and the Target Foundation have invested $30 million in over 100 non-profit organizations dedicated to serving small businesses.

These efforts stimulate local economies, support job creation, and provide a scalable platform for entrepreneurs to achieve financial stability and growth.

Promoting Innovation and Reducing Inequalities (SDG 9 & SDG 10)

Through dedicated programs, Target actively supports SDG 9 (Industry, Innovation, and Infrastructure) and SDG 10 (Reduced Inequalities). The Target Takeoff and Accelerators programs are designed to help emerging brands scale for mass retail by providing critical resources.

1. Education: Entrepreneurs receive structured guidance on navigating the complexities of the retail industry.
2. Mentorship: Participants are paired with industry experts to refine their business strategies.
3. Resource Access: The programs open pathways to supply chains, marketing, and capital, which are often barriers for small enterprises.

By focusing on entrepreneurs with fresh ideas and diverse perspectives, these initiatives promote inclusive industrialization and reduce economic inequalities, ensuring that underrepresented founders have the opportunity to succeed.

Case Studies: Supported Brands and Alignment with SDGs

Target’s portfolio of supported brands demonstrates a commitment to innovation and sustainability. The following brands, part of the Target Takeoff program, align with various Sustainable Development Goals:

• Nemah: Offers clean, sustainable skincare for mothers and babies, aligning with SDG 12 (Responsible Consumption and Production).
• Skala Cosmetics: Develops beauty products that celebrate diversity and inclusivity, directly supporting the principles of SDG 10 (Reduced Inequalities).
• Wildbird: Produces premium baby carriers, contributing to the well-being of families and supporting small business growth under SDG 8.
• Toddlekind: Creates functional and aesthetically pleasing play mats, representing innovation in consumer goods as outlined in SDG 9.
• Hanhoo, K’Lani, and Round21: These brands exemplify the spirit of entrepreneurship and innovation, contributing to economic dynamism and fulfilling the objectives of SDG 8 and SDG 9.

Strengthening Communities through Strategic Partnerships (SDG 17)

In line with SDG 17 (Partnerships for the Goals), Target amplifies its impact by collaborating with non-profit organizations that share a vision for inclusive economic growth. These partnerships provide localized, hands-on support to entrepreneurs.

1. The Enterprise Center (Philadelphia): This partnership advances economic equity by supporting minority-owned businesses, directly addressing SDG 10. A recent renovation project created opportunities for local contractors, furthering SDG 8 by reinvesting in the community.
2. Industrial Council of Nearwest Chicago (ICNC): The Make City program strengthens a key industrial corridor through business support and workforce development. Through the Forward Founders Accelerator, 17 entrepreneurs received education and mentorship, empowering them to scale in retail and achieve substantial growth, aligning with SDG 8 and SDG 9.
3. The Alliance for Community Development (ACD) (Bay Area): This collaboration promotes investment in low-income communities by connecting founders to capital. This work is crucial for community transformation and reducing local inequalities, supporting SDG 10.

Conclusion: A Model for Inclusive and Sustainable Growth

Target’s commitment to small businesses serves as a comprehensive model for corporate contribution to the Sustainable Development Goals. By integrating support for entrepreneurship, innovation, and diversity into its core business strategy, the corporation creates shared success. These initiatives provide consumers with innovative products while offering small businesses the visibility and resources necessary for growth in the mass retail market. This symbiotic relationship builds stronger, more resilient business communities and drives inclusive economic growth for a sustainable future.

Analysis of Sustainable Development Goals in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

   The article highlights issues and initiatives that are directly connected to several Sustainable Development Goals (SDGs). The primary focus on supporting small businesses, fostering entrepreneurship, promoting inclusive economic growth, and building partnerships aligns with the following SDGs:

   • SDG 8: Decent Work and Economic Growth: The core theme of the article is Target’s commitment to fostering the growth of small businesses and entrepreneurs through programs, mentorship, and financial support, which directly contributes to economic growth and job creation.
   • SDG 10: Reduced Inequalities: The article explicitly mentions supporting “minority-owned businesses” and promoting “inclusive economic growth” and “diverse perspectives,” which addresses the goal of reducing inequalities by empowering marginalized or underrepresented entrepreneurs.
   • SDG 11: Sustainable Cities and Communities: The partnerships with local nonprofits like The Enterprise Center in Philadelphia and ICNC in Chicago aim to revitalize specific urban areas and strengthen local communities by creating opportunities for local contractors and businesses.
   • SDG 17: Partnerships for the Goals: The entire strategy described in the article is built on partnerships. It details collaborations between a large corporation (Target), small businesses (entrepreneurs), and civil society organizations (nonprofits) to achieve shared economic and social goals.

2. What specific targets under those SDGs can be identified based on the article’s content?

   Based on the activities described, the following specific SDG targets can be identified:

   • Target 8.3: “Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises…” The article’s description of programs like Target Takeoff and Accelerators, which provide education, mentorship, and resources to help entrepreneurs scale their businesses, directly aligns with this target.
   • Target 10.2: “By 2030, empower and promote the social, economic and political inclusion of all, irrespective of…race, ethnicity…or other status.” The article’s focus on supporting “minority-owned businesses” through its partnership with The Enterprise Center and its emphasis on “inclusive economic growth” and “diverse perspectives” directly supports this target of economic inclusion.
   • Target 11.a: “Support positive economic, social and environmental links between urban, peri-urban and rural areas by strengthening national and regional development planning.” The work with The Enterprise Center to revitalize West Philadelphia and with ICNC to strengthen Chicago’s Kinzie Industrial Corridor are examples of strengthening local economic links within urban communities.
   • Target 17.17: “Encourage and promote effective public, public-private and civil society partnerships…” The collaboration between Target (private sector) and nonprofits like The Enterprise Center, ICNC, and The Alliance for Community Development (civil society) to support small businesses is a clear example of the multi-stakeholder partnerships this target aims to foster.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

   Yes, the article provides several quantitative and qualitative indicators that can be used to measure progress:

   • For Target 8.3:
     • Number of small businesses supported: The article states Target has launched “over 750 successful brands” in the past five years.
     • Financial success of supported businesses: It mentions that these brands “will eclipse $1 million in sales this year” and that “over 75 of them being exclusive small entrepreneurs that have sold over $1 billion since launch.”
     • Financial investment in support systems: The article notes that “Target and Target Foundation have donated $30 million in support of over 100 nonprofits serving small businesses.”
   • For Target 10.2:
     • Support for minority-owned businesses: While not providing a specific number, the article explicitly states that The Enterprise Center’s work supports “minority-owned businesses,” implying that the number of such businesses assisted is a key metric.
     • Number of entrepreneurs from diverse backgrounds in accelerator programs: The mention of “17 of our entrepreneurs” benefiting from the Forward Founders Accelerator through the ICNC partnership serves as a specific indicator of inclusion.
   • For Target 11.a:
     • Number of community development projects: The “renovation of 277 S. 52nd Street” is a specific project indicator.
     • Number of local businesses engaged in community projects: The article implies this by stating the project created “opportunities for small, local contractors to grow their businesses.”
   • For Target 17.17:
     • Number of cross-sector partnerships: The article mentions partnerships with “over 100 nonprofits” and specifically names three: The Enterprise Center, ICNC, and The Alliance for Community Development.

4. Create a table with three columns titled ‘SDGs, Targets and Indicators” to present the findings from analyzing the article.

   SDGs	Targets	Indicators
   SDG 8: Decent Work and Economic Growth	8.3: Encourage the growth of micro-, small- and medium-sized enterprises.	Number of successful brands launched (over 750). Total sales generated by supported entrepreneurs (over $1 billion). Financial donations to support organizations ($30 million).
   SDG 10: Reduced Inequalities	10.2: Empower and promote the social and economic inclusion of all.	Support for minority-owned businesses (mentioned through The Enterprise Center partnership). Number of entrepreneurs supported through specific accelerator programs (17 mentioned in the ICNC partnership).
   SDG 11: Sustainable Cities and Communities	11.a: Support positive economic and social links between urban areas.	Number of community revitalization projects supported (e.g., renovation of 277 S. 52nd Street). Number of local contractors engaged in community projects.
   SDG 17: Partnerships for the Goals	17.17: Encourage effective public-private and civil society partnerships.	Number of partnerships with non-profit organizations (over 100). Specific named partners (The Enterprise Center, ICNC, The Alliance for Community Development).

Source: corporate.target.com