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City of Seattle

Beto Yarce, Director Office of Economic Developmet

The Power of Public-Private Partnerships In Building An Inclusive Economy

Beto Yarce

Beto Yarce

Entrepreneurial Access Champion

The most resilient and equitable economies are built not by any single sector, but by strong, intentional partnerships across government, nonprofits, philanthropy and the private sector. My firm belief in partnership is rooted in my journey as a small business owner, nonprofit leader, federal administrator and now as director of the Seattle Office of Economic Development.

My early work as a small business owner taught me that entrepreneurs drive local economies. Yet many lack access to capital, networks and business support systems. When I led Ventures, a nonprofit that helps incubate and grow microenterprises, I saw firsthand how coordinated support can accelerate opportunity. Philanthropic investment helped the organization scale; coaches provided hands-on assistance; local businesses offered mentorship; and city agencies helped entrepreneurs navigate licensing, financing and regulatory processes. When these pieces moved in sync, traditionally underrepresented entrepreneurs suddenly saw their dreams within reach.

That belief followed me into federal service as the U.S. Small Business Administration’s Region 10 Administrator. In that role, I helped steward programs that relied on genuine collaboration: SBA-backed lending through private banks, advising services delivered through nonprofit partners and disaster-response support coordinated with local governments. The model worked because each partner brought different strengths to the table: banks with capital, nonprofits with community trust and public agencies with policy tools and oversight. Together, they created pathways that none could have built alone.

Now, as director of the Seattle Office of Economic Development, I continue to champion the power of collaboration. Seattle’s economic landscape is both rich with innovation and troubled with widening inequities. Addressing those challenges requires what I often describe as an “all-hands approach.” We need large employers who are willing to co‑design workforce training programs, philanthropists who invest in community-led initiatives and neighborhood business associations that ensure local voices shape local solutions.

The promise of public-private partnerships is not merely efficiency. It’s shared prosperity.

We don’t think this is some far-off future since we’re already doing it. In recent years, we teamed up with industry leaders to expand apprenticeship pipelines into tech and clean energy. These programs are where companies define job skills, community colleges and nonprofit organizations develop training and the city provides coordination and funding. Similarly, philanthropic organizations are stepping forward to support small business stabilization grants and culturally responsive technical assistance, delivered through nonprofits embedded in communities of color. These collaborations helped hundreds of entrepreneurs survive and grow during volatile economic periods.

Beyond grants, programs and public policy work, local governments must shift our mindsets to unlock real partnerships. It means designing solutions with communities, not designing for them. It means bringing industry leaders to the table early, not just to fund innovative ideas but to help shape them. And it means governments embracing flexibility, reducing barriers and acting as connectors and key partners to empower communities. The impact of such collaboration reaches beyond any single business or neighborhood. When small businesses thrive, cities become more vibrant. When workers can access training and upward mobility, families experience greater economic stability. When nonprofits and philanthropists align their investments with public priorities, communities gain capacity and access to resources. And when industry invests in equitable growth, the entire regional economy becomes more resilient.

The promise of public-private partnerships is not merely efficient. It’s shared prosperity. We see proof, time and time again, that when sectors work together, they can build an economy that truly works for everyone. There is an old proverb that I think sums this up perfectly – “If you want to go fast, go alone. If you want to go far, go together.”

The articles from these contributors are based on their personal expertise and viewpoints, and do not necessarily reflect the opinions of their employers or affiliated organizations.