April 21, 2025
By Sandra M. Moore, Managing Director & Chief Impact Officer
At Advantage Capital, impact isn’t just something we aim for, it’s something we measure meticulously and often. When it comes to investing in underserved and underrepresented communities, it’s not enough to count the number of jobs created or dollars deployed. True impact means digging deeper, measuring not just the results, but the outcomes.
That’s why we conduct our bi-annual portfolio company survey, and we’re grateful to the nearly 200 companies that participated in the most recent round. In fact, this year marked one of our strongest responses to date. This was driven by an improved survey experience, streamlined processes, and enhanced support for our participants.
This input provides powerful insight into the progress we’re making together and helps us better understand how investment capital is driving real economic and community growth from the top down and the bottom up.
Impact by the Numbers
From the latest survey data, we see a clear story of growth, opportunity, and upward mobility:
- 14,389 jobs supported, with 1,449 more projected to be created in the next 12 months.
- An average full-time wage of $71,497—a strong indicator of quality employment. In line with national trends, average wages across our portfolio rose ~4% since Q2-2024.
- 99% of employees receive health benefits, a critical pillar of financial and physical well-being.
- 99% of employees have access to wealth creation tools like 401(k) plans, setting the stage for long-term financial security.
- 91% of portfolio companies offer jobs accessible to those without a college degree, expanding quality employment opportunities.
- 89% of employees receive training, paving the way for career mobility and skills development.
- 11% of companies report that new employees were able to replace one or more public assistance programs thanks to their new wages, underscoring the direct financial benefit not only to individuals and families, but also to local, state, and federal governments.
While the total number of jobs supported remains stable, a shift toward investing in smaller companies has slightly reduced the average headcount per company. This nuanced shift reflects our ongoing commitment to reaching deeper into underserved markets where small businesses often serve as the economic backbone.
However, the data also reflects broader macroeconomic caution: new hires are down 24%, and projected hires down 57%, pointing to a hiring slowdown amid continued economic uncertainty, supply chain challenges, and tariff concerns. These trends serve as an important reminder that while we are making progress, our work remains deeply influenced by the broader economic climate.
A more detailed analysis by industry and geography is forthcoming, helping us understand not just where we are seeing gains, but where targeted efforts might be needed most.
Measuring for Outcomes, Not Just Results
These numbers speak to more than outputs. They point to outcomes. And in impact investing, outcomes are what truly matter.
Creating jobs is important. But creating good jobs—jobs that come with benefits, growth opportunities, and a livable wage—changes lives. It empowers individuals to support their families, build wealth, and participate more fully in their local economies. It reduces dependency on public assistance and increases buying power. And when people thrive, communities thrive.
We see it in the data, and we see it in the stories behind the numbers. Investments that prioritize outcomes are creating real, lasting change in the lives of people who have long been overlooked by traditional capital markets.
A Shared Commitment to Impact
As we look ahead, we remain committed to not only investing with impact but also measuring that impact in ways that are meaningful and transparent. Thank you to all our portfolio companies that participate in our bi-annual survey. Your insights are helping us tell a powerful story about what it means to invest in people, places, and potential.
Want to explore the data in more detail?
Download our infographics for a closer look at overall small business results, as well as industry-specific insights all in one place. Dive in here.
