14 Events and Resources for Black Business Owners
Black business owners are often underfunded and underrepresented in the business world. Despite the annual $200 billion+ that they contribute annually to the U.S. economy, studies show that Black-led businesses are less likely to receive investments, loans, and other forms of capital from traditional financial institutions. Only 1 percent of Black business owners obtain loans in their first year and just 4 percent of startups are founded by Black women. This lack of access to capital puts Black business owners at a massive disadvantage when it comes to establishing and growing their companies.
The good news is there are numerous organizations and initiatives dedicated to providing Black business owners with the resources and support they need to thrive. Below you’ll find our list of 14 events and resources for Black business owners that provide access to capital, networking opportunities, and more:
Live Events
#1: Black History Month Block Party
Black@INBOUND and BlackHub are celebrating Black History Month with a Block Party. Connect with Black professionals during their networking hour, then vibe out to great music from DJ Efeezy. All attendees will be entered to win one of five prizes from Black-owned businesses.
February 21st, 2023 | 12-1:30pm EST
#2: Bridging the Wealth Gap
Despite the post-George Floyd corporate pledges to eradicate racial inequities and make investments to diminish wealth disparities, the chasm between Black and white widens. And with the looming recession, Black Americans face yet another crushing blow to individual and collective wealth-building efforts. This panel will examine the rising challenges to wealth creation and seek to develop a comprehensive plan for long-term solutions.
February 23rd, 2023 | 7-8:30pm EST
Previously Recorded Events
#3: Spurring Black Economic Prosperity: Leveraging The Child Tax Credit and Earned Income Tax Credit
The Black Economic Alliance Foundation and Executive Leadership Council co-hosted this educational briefing for corporate leaders. The tax code has long had negative consequences on Black Americans’ economic prosperity, and the business community has a role to play in changing this reality.
#4: Corporate Commitments to Support Entrepreneurs of Color: What Have We Learned and What’s Next?
Join AARP and Reimagine Main Street in this recorded virtual event. Corporations are a cornerstone of the American economy, and they have the power to shape the market and our society. In response to the urgent movement for racial justice, many major companies made commitments to Black-owned small businesses and other entrepreneurs of color. AARP and Reimagine Main Street are convening corporate leaders, small business owners and advocates, policymakers, and others to assess corporate commitments to Black-owned businesses and look ahead to the future.
* To find more events, visit BlackEnterprise.com
Resources
#5: My Black Receipt
My Black Receipt is the first “Buy Black” movement that quantifies collective purchases from Black-owned businesses. This movement holds consumers accountable while publicly demonstrating support for Black-owned businesses, helping them increase their visibility and grow their companies. Submit your business!
#6: TONL
Find diverse stock photos that represent the world we actually live in. Browse by categories ranging from “Taste” and “Travel” to “Trust” and “Technology.”
#7: National Minority Supplier Development Council
This is the nation’s largest, most impactful, and successful non-profit advocacy organization for minority business enterprises. They’ve connected over 15,000 MBEs to more than 1,700 corporations, resulting in nearly $400 billion in economic output annually, generating $130 billion in tax revenue, and sustaining 1.75 million jobs. They are the longest-operating business growth engine for the broadest group of systematically excluded communities of color (Asian-Indian, Asian-Pacific, Black, Hispanic, and Native American).
#8: The Coalition to Back Black Businesses
The Coalition to Back Black Businesses is a collective effort to drive meaningful change within the Black business community by delivering much-needed short-term relief and supporting the long-term success of Black-owned small businesses and the communities they serve. See if your business qualifies!
#9: Black Owned Everything
Black Owned Everything exists to foster long-lasting participation between Black business, community, and excellence. They use Shopify to create a multi-branded, easily-discoverable, and vendor-friendly online marketplace and are always inviting more Black-owned businesses to join. Submit your business!
#10: 8(a) Business Development Program
This program was established by the U.S. Small Business Administration and is intended to help businesses owned and controlled by socially and economically disadvantaged individuals. According to their website, “The federal government's goal is to award at least 5 percent of all federal contracting dollars to small disadvantaged businesses each year.”
To qualify for the 8(a) program, businesses must meet the following eligibility criteria:
Be a small business
Not have previously participated in the 8(a) program
Be at least 51 percent owned and controlled by U.S. citizens who are socially and economically disadvantaged
Have a personal net worth of $850 thousand or less, adjusted gross income of $400 thousand or less, and assets totaling $6.5 million or less
Demonstrate good character
Demonstrate the potential for success such as having been in business for two years
#11: Minority Business Development Agency
This is the only federal agency solely dedicated to the growth and global competitiveness of minority business enterprises. Their programs offer customized business development and industry-focused services to provide minority owned businesses with greater access to capital, contracts, and markets.
#12: Golden Seeds
Golden Seeds is one of the nation’s most active early-stage investment firms that focuses on women-led businesses. Golden Seeds members, along with its venture funds, have invested over $165 million in over 225 exciting women-led companies.
#13: Operation Hope
Economic inequality, financial illiteracy, social injustice, inequitable access to capital, and lack of financial dignity are systemic issues that have hindered the economic growth and opportunity for under-served individuals and small businesses for hundreds of years in the U.S. Operation Hope offers financial education, one-on-one coaching, courses on credit score improvement, as well as pathways toward homeownership and starting a business.
#14: Black Women Talk Tech
Black Women Talk Tech is on a mission to help Black women dream big and build the next billion-dollar tech or scalable company. They’ve created an ecosystem designed uniquely for Black entrepreneurs and technologists who are seeking community in the tech industry and opportunities to push their businesses forward.