black owned Tag

Home  /  Posts tagged "black owned"

Black Information Network Despite being hit the hardest at the beginning of the pandemic, Black-owned businesses are making a significant comeback. Reports say the number of Black small-business owners is up 28 percent compared to before the pandemic. Black people are making greater gains in business than any other demographic — the number of Latino business owners increased by 19 percent and white and Asian-owned businesses saw a 5 percent increase.  U.S. News reports that 1.2 million African Americans are self-employed in 2022 compared to 1.1 million in February 2020. Erica Groshen, a university

Raye Mitchell, a Harvard Law School grad turned entertainment lawyer, has partnered with Cindy Brown, an Olympic Gold Medalist, and former WNBA player, to launch Bossology 53 Entertainment, a Black-owned media company that will create film, TV projects, and publishing content. Ultimately, their goal is to advance social justice, racial, and LGBTQ equity and celebrate everyone’s right to the dignity of being the boss of their stories and the right to be heard when telling their truth. The newly formed company comprises Mitchell’s production projects under The Mouthology® podcast

The Local Initiatives Support Corporation (LISC) announced today that its Black Economic Development Fund (BEDF) has committed nearly half its capital, having closed on $122 million in investments for Black-owned banks and businesses throughout the country. The $250 million fund includes investments from Netflix, Paypal, Square, HubSpot, Aflac, Costco, Dicks Sporting Goods, ThermoFisher Scientific, Wayfair, McKinsey & Company, and Dupont. It aligns with LISC's larger Project 10X strategy to break down systemic racial barriers, including $1 billion in investments that support small businesses, community nonprofits, mission-driven lenders, anchor institutions and innovative urban and rural initiatives. "Over the last two years,

By Cherranda Smith, Black Information Network Paris Mckenzie, a NYC-based 16-year-old, is making history in the hair and beauty industry, becoming the youngest Black owner of a beauty supply store. And she's just getting started. Mckenzie opened Paris Beauty Supplyz in the summer of 2020 after a space next to her mother's salon opened up. The young entrepreneur used her savings to lease the space and has since launched a salon of her own, La Eiffel Beauty Bar in Brooklyn.According to a news release, Paris is no stranger to hair and beauty, after spending plenty

By Cherranda Smith, Black Information Network A group of seven Black-owned banks is partnering with the Major League Soccer on a $25 million grant seeking to close the racial wealth gap in the US.The historic deal between the MLS and the National Black Bank Foundation (NBBF) was announced Thursday (March 10) and marks the first time ever that a sports league has conducted a commercial financial transaction exclusively with Black financial institutions. "Major League Soccer's partnership with the National Black Bank Foundation is a tangible step in the efforts to close the racial economic gap in the

Designer Brands Inc, parent of shoe retailer DSW Designer Shoe Warehouse, announced today an investment of $2 million into advancing action-oriented Diversity, Equity & Inclusion through a partnership with Pensole and legendary footwear designer Dr. D'Wayne Edwards, President of Pensole Lewis College of Business & Design (PLC). Located in Detroit, PLC is the first and only Historically Black College & University (HBCU) in Michigan and the first HBCU with a focus on design. PLC, formerly known as the Lewis College of Business, is expected to reopen in May 2022. In this new partnership, Designer Brands will invest in

Jarvis Stewart admits he knew only a little about Special Purpose Acquisition Companies (SPACS). While SPACS have been the rage on Wall Street in recent years, Stewart’s exposure to the financial markets was gained mainly through his longtime friends, which include Christopher Williams, Chairman of Siebert Williams Shank & Co., one of America’s largest minority-owned investment banks and Daniel Black, Managing Partner, The Wicks Group, a New York-based private equity firm. So, when he received a call just a year ago from an old client, a Canadian CEO

 E.E. Ward Moving & Storage Co., the oldest Black-owned business in the country, recently announced that it has expanded its operations to the Carolinas with new offices in Charlotte and Raleigh. In addition, as the country prepares to celebrate Black History Month, E.E. Ward Moving & Storage Company–recognized by the U.S. Department of Commerce as the oldest continuously Black-owned and operated business in the United States–will be the first Black-owned agent to receive the northAmerican® Van Lines Agent of the Year award. The award presentation will be held February 7 at the company's new office in Charlotte,

Shawn Rochester, who authored the spellbinding book “The Black Tax: The Cost of Being Black in America,” and Robin Watkins, a highly regarded financial and operations accountant, have made Wall Street history. And the two are poised to break through more barriers in the financial world. Their latest venture, Minority Equality Opportunities Acquisitions Inc. (MEOA), has raised $126.5 million they’ve earmarked to help minority businesses and enterprises grow and prosper through mergers and acquisitions. “It’s amazing to be a part of this,” Watkins, a Drexel University graduate, stated. While Rochester serves

By Danielle Sanders, Chicago Defender Interim Managing Editor Polaris, the 100% black-owned television, digital and social media platform, today announced the launch of its first free ad-supported streaming TV channel (FAST), to debut on VIZIO’s SmartCast platform. Created by digital media pioneer and legendary journalist, Rahman J. Dukes, Polaris exists to uncover and share stories created by Black, Indigenous, and People of Color (BIPOC) and authentically share Hip-Hop and Black culture with the world. With guidance from the Polaris board, iconic media personality Sway Calloway (MTV) and music