Starbucks has long been about helping people start their days off, thanks to that magical elixir we like to call coffee. Now they’re aiming to give a similar jolt to start-up businesses and the job market.
According to Yahoo! Finance, Starbucks CEO Howard Schultz has announced plans to create a start-up fund called “Create Jobs For USA.” To prove he’s going beyond lip service for a very real problem, he paired with a group of financial institutions who will throw their muscular money into the ring. The fund will begin with $5 million from Starbucks, with a plan for every $5 donation to be matched up to $35 toward
It’s a nice gesture from Schultz, a very wealthy man endlessly frustrating by the partisan bickering that has consumed Washington, D.C. in recent months. Rather than wait around for Congress to grind something out—which might, optimistically, take years—Schultz is stepping up to the plate and leveraging the power of his brand to do good. It’s tough to find fault with that.
The question then becomes how, exactly, the fund will be used to stimulate job growth. That question goes more or less unanswered in the article I’ve linked above, but hopefully there’s more clarity coming. I’d love to give to a cause that gets people back into work, but we should all know exactly how it is going to work.
What are your thoughts on this fund?