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Courtesy of Black Information Network A father-son duo has made history after launching the first-ever Black-owned athletic supply company, Black Enterprise reports. Oronde Booker and his 14-year-old son Kendall are the founders of Book Dawg Sports, an Atlanta-based sporting goods company. After years of supporting Kendall at sports practices and games, Oronde noticed that all of the equipment used by teams was developed by four major companies, none of which were Black-owned. The father was inspired to create a company with his son that could join the ranks of other major suppliers of athletic products. “When thinking about sports, it’s likely

Black Pearl Global Investments – a Black-owned asset management firm focused on reducing health disparities across the globe – has entered into an agreement to acquire Florida-based contact lens manufacturer Hydrogel Vision Corp. (HVC). As a result of the acquisition, HVC will be known as Black Pearl Vision, becoming the only Black-owned and woman-owned contact lens manufacturer in the world. The deal is expected to close by mid-September. “It’s exciting to celebrate this milestone as we close out National Black Business Month,” said Dr. Shante Williams, CEO of Black Pearl

A campaign that aims to enhance the digital capacity of 1 million Black-owned businesses and grow their revenue by engaging customers through technology is being introduced in Tuskegee at the 122nd anniversary of the National Business League (NBL). A historic announcement will be made Aug. 22 and 23 concerning a project the NBL is spearheading in partnership with sponsor American Express. The goal is to transition 1 million Black-owned businesses into the digital economy by 2028. The five-year campaign, the Black Economic Freedom Movement, will kick off in January 2023 to relaunch the NBL with local

Men of Morehouse are trained to have disciplined minds, leading lives of leadership and service. As they go on into their professional careers, we welcome Morehouse Men to share their wisdom and lessons learned. Below, attorneys, founders and owners of Sanders Roberts, LLP – Justin Sanders and Reginald Roberts, Jr. – share how they’ve leveraged their networks and relationship-building to grow individually and professionally to today own one of the largest Black-owned law firms in the western region of the United States, boasting more than 60 employees including 35 attorneys, 15 paralegals, and many

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