Earlier this month, Inc. Magazine released their special 35th anniversary edition, where they spoke to legendary entrepreneurs who could offer words of wisdom. One of these entrepreneurs was Jim Koch, founder and brewer of Samuel Adams.
In the article, Why I Support My Competition, Koch talks about why helping fellow entrepreneurs is a cause dear to his heart. Samuel Adams was once a very small business, and in supporting entrepreneurs, Koch has been able to keep the company in touch with its roots. “The reason I support competitors becomes obvious if you think about the way yeast ferments beer. If enough yeast are working together, they can change the ecosystem for the mutual benefit of all,” writes Koch.
Through his company, Samuel Adams, Koch has been able to give back to small business owners in many ways, one which is the Brewing the American Dream (BTAD) program with Accion. Since its inception in 2008, BTAD has provided more than $3 million in loans, and has offered nearly 50 coaching sessions nationwide to over 4,000 entrepreneurs in the food and beverage, hospitality, and craft brewing industries.
To read Jim Koch’s entire article, visit Inc. online.