The Need for SELF- M.A.D.E. Ventures
In July 2018 Prison Policy Initiative did a study titled: Out of Prison & Out of Work: Unemployment among formerly incarcerated people. Using a nationally representative dataset, they discovered that out of the 5 million formerly incarcerated people living in the United States they are unemployed at a rate of over 27% higher than the total U. S. unemployment rate during a historical period. including the Great Depression. After release, formerly incarcerated individuals are labeled ” Ex-cons ” for the rest of their lives. This label dramatically reduces their prospects for legitimate work that pays a livable wage.
Many citizens returning home from prison are living in concentrated lower-income neighborhoods within Urban Cities. The services that are available are insufficient to meet the needs of this population such as employment and housing. Urban city development is critical to the growth of any city which also contributes to the state and national economy. SELF- M.A.D.E. Ventures was created to help meet the needs of this underserved population.
SELF-M.A.D.E Ventures was launched in 2019, as a Low-Profit Limited Liability Company (L3C) which is a legal form of business entities in the United States that are created to bridge the gap between non-profit and for-profit investing by providing a structure that facilitate investments in socially beneficial, for-profit ventures. Ending Poverty & Want takes an innovate approach to alleviate. SELF-M.A.D.E. Ventures is a hybrid entity design to attract private investments and start-up companies and foster urban entrepreneurship, with returning citizens & at-risk-youth. Creating new Industries helps to establish new tax-bases and revenue streams for struggling communities while providing jobs for those who are returning back into the communities after serving time in Prison.