L’Oréal USA today announced the creation of its Inclusive Beauty Fund, a new grant program presented in partnership with the NAACP, the largest and most pre-eminent civil rights organization in the nation. Through this inaugural round of funding, L’Oréal USA will award 30 one-time grants of $10,000 each to Black-owned small businesses, Black entrepreneurs, and professional services in all sectors of the U.S. beauty industry. As small businesses in America have been hit the hardest by the economic fallout of the pandemic and Black-owned businesses are shutting down twice as fast as others according to NBER, L’Oréal USA teamed up with the NAACP to identify the most promising Black-owned small businesses and
The pandemic made 2020 a difficult year for many small businesses, as many closed permanently. But other small companies had success despite the surge in outbreaks and are hoping to build on those achievements in 2021. How can they keep their momentum going, and what can other companies learn from their struggles to navigate the challenges of the new year? “To stay afloat, owners adjusted on the fly and creatively found ways to change their operations,” says Chris Buitron, CEO and president of Mosquito Authority® (www.mosquito-authority.com). “Those that survived can use innovations
Comcast Corporation is bringing marketing and technology resources to Black, Indigenous, and People of Color-owned businesses. The initiative, designed for small businesses, is entering its second phase of eligibility and is looking to assist businesses impacted by the COVID-19 pandemic. Comcast RISE, an acronym meaning Representation, Investment, Strength and Empowerment, launched its first phase in October to emphasize Black-owned small businesses. The program is expanding its reach to include small businesses owned by People of Color and Indigenous to assist during these unprecedented times. Marrying two of the company’s
by BlackPressUSA As a small business owner, the effects of the pandemic may have taken a tremendous toll on your financial picture. Now, as you continue down the road to recovery, you can count on Wells Fargo for the information you need to make more informed and confident decisions. What are the benefits of developing a relationship with a banker? One of the best perks of getting to know your banker is the ability to get help tailored to your business as your needs continue to evolve over time. Whether
Stone Solutions Owner, Chandell Stone Sources Talent From Africa to Support Small Businesses in US and Europe.
By Racquel Coral, Chicago Defender After recognizing the high unemployment gap amongst millennials in Kenya, educator, HBCU, and Harvard University graduate, Chandell Stone, founded Stone Solutions. In its second year, Stone Solutions has successfully leveraged talent across Africa to provide the United States and Europe with virtual assistance and consulting services. Racquel Coral (RC): What was the motivation behind Stone Solutions, and how did you get started? Chandell Stone (CS): Stone Solutions was born out of this desire to support the African diaspora in a way that extends beyond just bringing in donations
Among millennials, currently there is a growing theme of people attempting to monetize hobbies. As opposed to previous generations, millennials (born between 1980 and 1996), have adopted a stronger entrepreneurial mentality. Economic Innovation Group along with EY, a professional services firm, polled millennials. The survey showed 62 percent of millennials have contemplated starting their own business, and 72 percent believe entrepreneurship is “essential for promoting innovation and jobs.” They either try and profit from something they are already good at, invest in something they believe in, or
Sean “Diddy” Combs has created Our Fair Share to assist minority owned small businesses reeling from COVID-19. The first round of funding established by the government through the Payment Protection Program (PPP) went fast. It never trickled down to businesses that needed financial help the most so that is when Combs stepped up. “I created Our Fair Share to help entrepreneurs play on an even playing field and give them a chance to survive with the hope to thrive,” said Combs in a statement. “Minority businesses have always struggled to access the capital they need to