Smart Futures Lab’s Post

This powerful piece by Johnnie Turnage in BridgeDetroit yesterday for #martinlutherkingjr Day speaks to the importance of entrepreneurship as a path to economic equity: https://lnkd.in/eB9zZHMG "I have a dream that the barriers to capital, which disproportionately affect Black entrepreneurs, will crumble, opening the doors to innovation and growth for all," wrote Turnage, who is the founder of EvenScore and Black Tech Saturdays. He goes on to write ... "Those barriers to capital are not imaginary. A report by the Federal Reserve Bank of New York found that Black entrepreneurs were denied loans nearly twice as often as their white counterparts. Goldman Sachs’s report “Black Womenomics: Equalizing Entrepreneurship” states that Black entrepreneurs are more likely to rely on more expensive personal credit cards as the primary sources of startup capital. According to Citi, if Black entrepreneurs had access to fair and equitable lending, those founders would have created 6.1 million new jobs annually." As a CDFI lender, we at Michigan Women Forward are proud to be part of helping to make this dream come true and remove these barriers to capital for BIPOC entrepreneurs. Columns like this remind people why this work is important. Not just on MLK Day but every day. #blackbusiness #smallbusinesssupport #ihaveadream

The urgency for effective, sustainable support for Black founders is more pronounced than ever. In our latest Ecosystem Prediction, Craig Moore II, Director of Entrepreneurial Programs for Venture For America, shares about inclusive entrepreneurship and the importance of systemic change in supporting Black founders. Read here ➡️ https://lnkd.in/gMNG-jr2

Twenty-three is a game-changing number — ask Michael Jordan and Lebron James. Since 2021, Resource has graduated two cohorts comprising 23 BIPOC-led Entrepreneur Support Organizations – raising over USD 23M in operating capital. Our report with Black Innovation Alliance, “Shifting the Center,” embodies both the current work and future vision for Resource – an initiative to back the entrepreneur support organizations that support entrepreneurs of color. The notion of shifting the center is what the ESO leaders we support do daily in disrupting systemic economic inequity. We envision a future where Black, Latinx, and indigenous-led ESOs have the necessary resources to mobilize investment capital to the startups they support. Read the report to learn more about this vision for Resource’s next chapter and learn five ways you can join us: https://lnkd.in/d-J-HpiK 

I’m excited to share this insightful article on the importance of having like-minded individuals by your side when launching a business! Surrounding yourself with like-minded people can be a game-changer for success. Check out this must-read article to learn why a supportive community of like-minded individuals is vital for your entrepreneurial journey. #Entrepreneurship #CommunitySupport #BusinessTips #MBE #WBENC

#InReelTime Russell Innovation Center for Entrepreneurs compilation🚀another one of my favorite storytelling clips I’ve created💫 RICE is an economic mobility engine for the community: driving Black entrepreneurs and small business owners to innovate, grow, create jobs, and build wealth. Part business generator, innovation lab, and museum, RICE invests in Black entrepreneurs, strengthens businesses, and creates community. Learn more about the mission at https://lnkd.in/eD7Wz5HU

Access to capital shouldn't be a barrier to entrepreneurship. That's why Local First Arizona’s We Rise Accelerator is empowering Black entrepreneurs with mentorship, resources, and funding opportunities. Together with Arizona Financial Credit Union, they're making strides in leveling the playing field and creating tangible pathways to success. Learn more about their impactful work and how they're making a difference in the community. #Empowerment #FinancialInclusion #WeRiseTogether https://lnkd.in/g8EEejiv

I’m excited to share this insightful article on the importance of having like-minded individuals by your side when launching a business! Surrounding yourself with like-minded people can be a game-changer for success. Check out this must-read article to learn why a supportive community of like-minded individuals is vital for your entrepreneurial journey. #Entrepreneurship #CommunitySupport #BusinessTips #MBE #WBENC

I will always stand behind the belief that when a Black-owned business is funded, it changes lives and communities. I also know that when a Black woman is determined, she will always make a way. Check out April Fenall's story of why she founded her business as well as how it was made possible. April is the Founder of Piikup, a delivery service for e-commerce, wholesale and grocery based organizations. Piikup was born out of necessity. The first: She left her wallet behind in Nevada by mistake and wished for a quick and fast solution to having it delivered to her in California. The second: A chronic medical condition as well as a previous conviction made it almost impossible to find gainful employment. In 2018, with the help of loan from Runway Project Oakland, April was able to bring her vision to light. Fast forward to now and April has been able to "reach back and pull people up" by hiring employees who also found themselves struggling to secure employment due to marginalization. You can read more of her story here: https://lnkd.in/eyCym7f6 Before you go, be sure to grab your funding guide for startups at bit.ly/5FundingTypes. Follow this page for more funding resources and tips you can utilize to grow your business. #startup #funding #grants #businessloans #businessloan #networking #blackownedbusiness #womenwholead #womenentrepreneurs #smallbiz #microbusiness #capital #financialliteracy #blackwealth

Know any middle-school girls, trans, and non-binary students in the Chicago area who are interested in entrepreneurship? Check out this amazing program run by my friend Scott Issen and Future Founders! Future Founders Startup Spring Break 2024 Application (google.com)

These stats & insights continue to make my head spin! It's all about connection capital... I am really proud of Capital One’s ongoing commitment to Black and Hispanic entrepreneurs. Small business focused events, and our Diverse Supplier Development program are just two examples of how we’re providing funding, learning and networking opportunities. #smallbusiness #entrepreneurship #socialimpact #capitalone