Black in Business: How Black Businesses Are Fairing After COVID-19
A casualty of nationwide shutdowns, little resources, and systemic racism, Black businesses have struggled greatly during the coronavirus pandemic and the battle for job security is far from over. What was originally thought to be a relatively short run-in with an unknown virus, quickly became a year-long disease that plagued a number of Black-owned businesses throughout the United States and beyond. With many Americans receiving vaccines and businesses opening their doors again, many are left wondering how the nation’s minority-owned operations are handling the world’s new normal. Black businesses,
Black business registrations increase during COVID pandemic
(BlackPressUSA)—Several states have shown that the number of registered businesses has “more than doubled” according to analysis by the New York Times. In the month after the CARES Act was passed by Congress in March 2020, business registrations increased by 60 percent. Though the economic downturn caused by the COVID pandemic is likely to damage entrepreneurship and put many small businesses in a financial hole or out of business entirely, there are signs that many have turned to creating businesses after losing employment elsewhere. Andre Perry, a Brookings Institution
Wells Fargo anchors the Black Economic Alliance Foundation’s Entrepreneurs Fund
(BlackPressUSA) — The Black Economic Alliance Foundation (BEA), in collaboration with Wells Fargo, launched the Black Economic Alliance Entrepreneurs Fund (BEA Entrepreneurs Fund) to accelerate the growth of Black entrepreneurs and business owners. The $50 million evergreen fund will provide seed, start-up, and early-stage capital to businesses founded and led by Black entrepreneurs. The launch of the BEA Entrepreneurs Fund is anchored by Wells Fargo with a $20 million commitment over five years to kick-start operations and investments, and to serve as a thought partner to the BEA
Leading Black Media Company Real Times Media and its Michigan Chronicle to Host GM Chairman & CEO Mary Barra for Pancakes & Politics
Discussion will focus on company’s efforts to engage Black and brown consumers Wednesday, June 9 at 2 p.m. DETROIT — June 4, 2021 — On Wednesday, June 9 at 2 p.m., Michigan Chronicle’s Pancakes & Politics series will feature General Motors CEO Mary Barra. Following the untimely death of George Floyd, GM’s leadership committed to doing the challenging but necessary work to strengthen diversity, equity and inclusion at GM and beyond. A year later, Barra will discuss the automaker’s progress and strategic plan to improve relationships and engagements with
John Hope Bryant vows to create one million Black entrepreneurs, businesses with $130 million fund with Shopify
By Hunter Gilmore, The Atlanta Voice For centuries, people from all over the world have viewed and traveled to America in pursuit of the American dream. To come to a place where freedom, opportunity and financial gain were highlighted at the top of the list. Everyone aspires to obtain these goals, especially people who are native to this country. However, somewhere along the way various societal and racial factors have discouraged certain groups of people and made it seem almost impossible to strive for the highest. John Hope Bryant, the
Veteran Business Executive Forms Minority-Owned Professional Services and Corporate Advisory Holding Company
Washington, DC – In response to the growing market demand to provide integrated professional and business solutions, veteran business executive and CEO advisor Jarvis Stewart announced today the formation of Highland Poe. Stewart will serve as Chairman and Chief Executive Officer at the holding company and Chief Strategist to each of the three portfolio companies – Cover Communications, Ian Reid, and HP Global Advisors. Headquartered in Washington, DC with senior and strategic advisors across the United States, Dubai, and Guyana, Highland Poe’s portfolio companies offer professional services in
MassMutual Great Lakes and First Independence Bank Announce Strategic Alliance Expanding Insurance And Investment Access
MassMutual Great Lakes (MMGL), a Southfield-based firm offering a wide range of financial products and services, is pleased to announce a strategic alliance with Detroit-based First Independence Bank (FIB), the only African American-owned bank headquartered in Michigan and the 7th largest in the country. The alliance will enhance FIB’s ability to provide comprehensive financial services to its retail and commercial clients in Detroit and nationwide, many of whom have been historically underrepresented when it comes to accessing these services. “At MassMutual Great Lakes, we believe every individual, small business
Dr. Tonya M. Matthews Named International African American Museum New CEO
The International African American Museum has found the final piece for the massive global project that will change the landscape of African American history and its curation. Seventeen months after breaking ground on the museum, its board of directors has selected as their CEO, Dr. Tonya M. Matthews. Dr. Matthews, an experienced executive, thought leader, and educator, has proven track records in organizational leadership, strategic planning, diversity and inclusion, program development, project management, and vast visitor, and community engagement initiatives. She is founder of The STEMinista Project, a ground-breaking, national initiative that inspires
Target to spend over $2B with Black-owned companies by 2025
by Sherri KoladeMichigan Chronicle Target announced recently to spend over $2 billion with Black-owned businesses by the end of 2025, Black Enterprise reported. Target made the pledge to add more products to its shelves from over 500 Black-owned businesses and work with more Black retail companies to enhance retail operations and shopping experiences, according to the article. Target will also introduce new opportunities to assist its Black-owned resources in growth for their businesses. Those resources entail a new team geared to giving vendors support to help propel Black-owned companies optimize their brands
Diary of a Serial Entrepreneur: Five things I’ve learned
Yimaj “Steve” Kalifa has mastered the art of reinvention – and, he has been so successful at it, that executives from major corporations and federal agencies now seek him out for advice. Often life has chapters, he likes to say, but sometimes you have to write whole new books to succeed. Growing up near Addis Ababa, Ethiopia, Kalifa’s first reinvention was realizing the power of context and environment. He had to near the center of the global economy, where his outsider status would let him see new opportunities that U.S. natives and industry veterans might overlook. So,