Post de FACE Coalition

Did you know... Black business ownership has surged by 38% compared to pre-pandemic levels. There are just over 3 million Black-owned businesses in the U.S., generating $206B in annual revenue and supporting 3.56M in U.S. jobs. While there are many success stories, there are still many challenges... 57% of Black business owners expressed concerned about credit availability 40% do not believe they have equal access to capital WizeHire is committed to leveling the playing field for all small businesses. Small businesses are vital to communities but are typically at a disadvantage when it comes to resources, tools, and talent essential to their growth. If this is the case for all small businesses, its doubly so for black businesses. For National Black Business Month, WizeHire sat down with Heath Butler to get his insights on how to better support Black businesses and entrepreneurship. Entrepreneurs like Heath Butler embody the spirit of National Black Business Month. With a legacy spanning three generations of entrepreneurship, Butler's journey is an inspiration. His commitment to creating pathways for equitable opportunities shines through his work with Mercury, WizeHire, and the Innovation Center for Urban Entrepreneurship, Inc. #NationalBlackBusinessMonth #BlackEntrepreneurs #EquityInBusiness #CommunityEmpowerment #SmallBusinessGrowth #InclusiveEconomy #championingchange https://lnkd.in/e8m_aqxk

As we embrace the post-pandemic boom in Black entrepreneurship, it's crucial to recognize the systemic barriers that persist. Access to financing remains a challenge, and venture capital opportunities often elude Black entrepreneurs. As Randy Davis and Tommie Daye's journeys demonstrate, experience and industry knowledge are invaluable assets that can help innovators overcome these obstacles. While we celebrate achievements like Randy's and Tommie's, we should also continue to push for greater access to resources, mentorship, and equitable funding to ensure this upward trend in Black entrepreneurship continues. Corporate America and the government have a pivotal role to play in helping to foster sustainable growth and innovation within the Black entrepreneurial ecosystem. #BlackEntrepreneurs #BusinessResilience #DiversityInBusiness #EconomicEmpowerment

Challenges of Black-owned Businesses The average level of startup capital for Black entrepreneurs is just $35,205, compared to $106,720 for White entrepreneurs, says a 2020 Bureau of Economic Research paper. One of the significant challenges of Black-owned businesses is inadequate access to funding which continues to widen the wealth gap. Thus, Black entrepreneurs often struggle to secure loans or funding for their businesses, leading to difficulties in starting or expanding their ventures. Black-owned businesses usually encounter bias and prejudice, affecting their opportunities for growth and access to markets.A study commissioned by Groupon and the National Black Chamber of Commerce found that 59 percent of Black business owners reported being victims of racism or bias when starting their businesses. They also face challenges breaking into specific industries or markets due to systemic inequalities. To harness the fullest potential of Black-owned businesses, the government needs to implement policies that enable these businesses not just to survive but to thrive and compete favorably, reducing the wealth gap. Here are four Federal and metropolitan policy solutions to expand Black business, according to brokings.edu: 1. Expand the Minority Business Development Agency and its partnerships The federal government should expand the Commerce Department’s Minority Business Development Agency (MBDA) to help build the capacity of financial institutions that serve Black entrepreneurs. 2. Commit to opportunities for Black-owned businesses in infrastructure spending As the Infrastructure Investment and Jobs Act’s federal dollars are delivered to state and local leaders, much of the work will be contracted out to small, medium-sized, and large businesses. How much of that money goes to Black-owned companies? 3. Empower more Black people as public fund managers To ensure public funds are managed by people who look like the public, we must be deliberate about funding a diverse set of fund managers. Diversity in asset management leads to diversity in investment. 4. Leverage philanthropy to support structural change   Philanthropic giving must encourage structural change at the federal, state, and local levels that will allow the economy to work for everyone. #leadership #compassionateleadership #DEI #businessowner #blackcommunity #business #entrepreneur #smallbusiness #entrepreneurship #entrepreneurship #success #entrepreneurlife #businessplan #businesswoman

INTRODUCTIONBlack entrepreneurs continue to face significant barriers that can hinder their success. Research by Extend Ventures showed that between 2009 and 2019, only 0.24% of capital in the UK was allocated to Black founders with just 0.02% to Black female entrepreneurs.Since 2022, Sky has worked with the Black Equity Organisation (BEO) to tackle inequalities in funding for Black entrepreneurs and support them to grow and develop their businesses. Through the Future 100 Growth Fund, the partnership provides a tailored 12-week workshop and mentoring programme, investment of up to £15,000, and 12-months free Sky Business broadband and phone package, as well as expert business advice. So far, 54% of businesses supported by the Fund are female led.Claudia Osei-Nsafoah, Sky’s Chief People Officer, Group Talent and D&I speaks to two women-led businesses, Mama Dolce and Philly & Friends, that have been supported by the Fund.Q&AClaudia Osei-Nsafoah: Could you share the story behind why you created your business and what unique gap or need it addresses in the market?Jane Visram, Founder, Mama Dolce: The genesis of Mama Dolce rather selfishly was my experience of a short-term dairy allergy. I really struggled to conveniently find anything that was indulgent and kind on my stomach. Most of the desserts I could lay my hands on that were free-from did not fit the bill for me and with 44% of British adults who now who suffer with at least one allergy, it seemed that this was a problem I could solve for many more people.Vese Aghoghovbia, Founder, Philly & Friends: Becoming a parent in 2017 opened my eyes to the inequality in play. At the time, only 1% of children's books featured a Black main character. Seeing the hard stats ignited my fire to seek a different life for my little girl. I believe you have to be the change you want to see, so I launched Philly & Friends to make a difference.I only wanted to write a 'love letter' to my little girl to let her know she's special and give her the gift of representation. So, I wrote Who Do I See in the Mirror? What I didn't realise was that I was writing a love letter to many children around the world and creating a brand they would eventually fall in love with.What started as an idea for a simple children's book based on Philly, my daughter's nickname, has grown into a much-loved children's brand with giving-back embedded in our DNA and multiple awards under our belt.Claudia: Jane, you mention being inspired by "wholesome, high-quality ingredients." Can you elaborate on your journey to create an ice cream brand focused on these values? Jane: Absolutely, I was keen to create a free-from brand that prioritised the comfort of those with allergies. We made thoughtful and conscious decisions about our ingredients and process to give consumers confidence in free-from desserts and create a new category for premium, free-from, plant-based desserts.Claudia: From your perspective, what distinct advantages does the Future 100

Kansas City, Let's Celebrate! 🎉 We have exciting news to share! This past Saturday, Congressman #EmanuelCleaver secured $4 million in funds for the Hispanic Chamber of Commerce and the Heartland Black Chamber. This money will help the two chambers collaborate on a new business development center in Kansas City. This investment represents a significant milestone for minority business owners in our region. By providing this dedicated space and programming, Both Chambers can equip more entrepreneurs with the tools to start and expand companies, create jobs, and drive economic growth in our community. The success of minority-owned businesses lifts everyone. Congressman Cleaver and leaders from both chambers held an inaugural check presentation and ribbon-cutting ceremony on Saturday, March 2, 2024. Light appetizers and beverages were served. When Congressman Cleaver took the podium, he spoke passionately about the need to invest in our minority communities. He described the challenges minority business owners face and how this center will help them thrive. The audience erupted in applause when he announced the $4 million allocation. After the speech, attendees mingled over beverages and food while touring the finished portion of the center. I encourage everyone to support minority-owned businesses in our community. You can contact the chambers to get involved with the new center. This is an exciting time, and we all have a role to play!  #socialshadow #socialshadow1 #BusinessNetworking #BusinessDevelopment #BusinessGrowth #Entrepreneurship #SmallBusiness #Startups #BusinessStrategy #MarketingStrategy #SalesSuccess #ProfessionalDevelopment #BusinessMentorship #ProfessionalDevelopment #BusinessConnections

Celebrating the Achievements and Looking Ahead: Wrapping Up Black Business Month 2023 As we bid farewell to the inspiring and impactful Black Business Month 2023, it's essential to reflect on the successes, stories, and strides made by Black entrepreneurs, while also contemplating the road ahead. Throughout the month of August, the world turned its focus to the remarkable contributions of Black-owned businesses and the vibrant entrepreneurial spirit that drives them forward. From innovation and resilience to empowerment and community building, Black Business Month truly encapsulated the essence of entrepreneurship. Click on the link to read more: https://lnkd.in/eDuyT_AV If you find value in our content, consider sharing it with your friends, family, and fellow entrepreneurs. Let's create a ripple effect of inspiration. #entrepreneurlog #entrepreneur #entrepreneurship #entrepreneurlife #entrepreneurmindset

IT TAKES A VILLAGE: EMPOWERING RACIALIZED ENTREPRENEURS THROUGH TRIBE NETWORK The Sector is humbled and inspired to share a vision with the seminal team at Tribe Network! What if more racialized people worldwide had the knowledge, resources, and tools to succeed as entrepreneurs and innovators? Tribe believes that our potential to succeed is infinite when we nurture the power of community and that it takes a village to raise an entrepreneur. A community of racialized people pursuing entrepreneurship and innovation in Canada, they offer several key programs and resources to support racialized entrepreneurs in their journey. The Black Start-Up Project (BSP) supports African, Black, Caribbean, and other Afro-descended entrepreneurs through programming, mentorship, coaching and consulting services, free online courses, and other resources – all led by Black business experts. All entrepreneurs have different needs and their three streams, START, BUILD, and ACCELERATE, help entrepreneurs access support relevant to the industry and stage they’re at. ********Since September 2022, their START and BUILD programs have supported over 455 Black founders! Read full story here: https://lnkd.in/gvtVZMGQ #tribenetwork #blackentrepreneurship #socialenterpreneurship #socialinnovation #halifax #socialfinance #venturecapital #thesectorinc

The formidable Lakeysha Hallmon, EdD has founded a number of businesses and nonprofits created to support Black entrepreneurs. Here, 6 founder/ CEOs share how participating in Hallmon's incubator ELEVATE has helped build their revenues and social media followings while still caring for their personal wellbeing. My latest for Forbes. #blackownedbusiness #womenownedbusiness #elevatedcities #entrepreneurs

August marks National Black Business Month, a time to recognize and support Black-owned businesses and entrepreneurs. Established in 2004 by entrepreneurs Frederick Jordan and John William Templeton, this observance aims to address the challenges faced by 2.6 million African-American businesses and advocate for supportive policies. #NationalBlackBusinessMonth continues to foster economic growth and emphasizes the importance of #diversity, #inclusion, and #belonging in #entrepreneurship. #BlackBusinessMonth2023 Learn more about the history and ways you can support here: https://hubs.ly/Q01-2K3y0

🌟 Celebrating Hispanic Heritage Month: Meet Sandra Potter, Owner of The Cleaning Leaders 🌺🎉 Join us in celebrating Hispanic Heritage Month by applauding the incredible journey of Sandra Potter and all the inspiring Hispanic entrepreneurs who have made a lasting impact. Together, let's honor their achievements and continue to uplift and empower one another. We are delighted to introduce Sandra Potter, a remarkable entrepreneur and a shining example of the impact of our NBIC program. 💼💪 Thirteen years ago, Sandra founded The Cleaning Leaders with a vision that extended far beyond her own family. Inspired by the young single mothers she encountered during her time as a registered nurse, Sandra recognized the need to provide opportunities for upward mobility through skills and education. Her passion for empowering others has been the driving force behind her journey. Through the support and guidance of NBIC, Sandra has successfully scaled her business to a point where she can now provide jobs and create economic opportunities for others. At NBIC, we believe in the transformative power of every entrepreneur, no matter how small their beginnings. Our saying, "from tiny acorns to mighty oaks," encapsulates our commitment to nurturing and empowering each individual to reach their full potential. If you're ready to start, shift, and scale your own business to new heights, it's time to take our Biz Quiz today! Discover the resources, support, and guidance that NBIC offers to help you grow your business and achieve the success you envision. 🌺🎉💼 #HispanicHeritageMonth #Entrepreneurship #NBIC #SuccessStories