Stories for Feb 22nd to 28th 2021

Adenah Beyoh

Lately, Adenah Beyoh has been everywhere in the news (AdenahBeyoh.Com). It really proves that real estate is one of the best ways to get rich.

Top Stories

  • Lately, Adenah Beyoh has been everywhere in the news (AdenahBeyoh.Com).  Bayoh cuts ribbon on IHOP location in downtown Newark (ROI-NJ). Weequahic HS Alum, Business Owner Making Her Mark In Newark (Patch)
  • Bias, disrespect, and demotions: Black employees say Amazon has a race problem (Vox)
  • The Bull Market in Stocks Has Blown Past Many Black Americans (Bloomberg). Although younger Black people are getting more involved in stocks, overall stock ownership is down. Ariel-Schwab Black Investor Survey.
  • How This Black Woman Is Killing It In The Casino World (Forbes) Melonie Johnson is the first Black woman to run a casino in Atlantic City.
  • Black moms facing the toughest childcare crunch: How policy can help (Brookings)
  • Black owned QCS Logistics cashes out for an estimated $15 million (3x revenue) to Dropoff inc.(Nola.com) — Why the sale of this New Orleans East business is bittersweet for the Burns family. QCS grew from one-car outfit into regional service making 1,000 deliveries daily
  • Employers Want More Diversity. They May Need to Open Offices in New Places. (Wall Street Journal) – Geographic discrimination is at the core of the “Black Wealth Gap.” Here’s another example. It’s difficult to recruit a diverse workforce in an all-White suburb.  We keep reporting these “Duh? Really” stories, but it’s really just racism and White people running away from Black people.
  • Alabama’s aging Black farmers uncertain about future as they struggle to create lines of succession (Gadsden Times)
  • Black Bodega in Bronx celebrates grand opening and brings jobs to a struggling community (AMNY)

Stories 

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • Black businesses failing at sobering 40 percent rate during pandemic (News4SA)
  • Biden Changes PPP Rules to Help the Self-Employed (New York Times). The changes are made tweaks PPP loans to help increase funds for those who share a small percentage smallest of the relief money, which includes women and Black women. small businesses (mLive)
  • Black Owned cosmetic company, Mented, survives pandemic (NBC Philadelphia)

Jobs / Workers / Unemployment / Gig Economy

  • Fed and Treasury chart path back to “full employment” (Marketplace)
  • Unemployment Crisis Hits Black Older Workers Hard (AARP)

Inequality / Systemic Racism / Economic Justice

  • Sexism in economics has implications far beyond academia (Fortune)
  • How Can Economic Justice Help Us Achieve Racial Justice? (Global Citizen)
  • Report examines challenges of Black professionals in corporate America (Philadelphia Tribune)
  • Study: Companies need to do better at addressing Black attrition in workplace (Business Report)
  • These 15 charts show the inequalities Black Americans still face (Business Insider) – Updated with covid-19 information
  • Uneven Covid Recovery Is Widening Racial Wealth Gap. Why Black Americans Investing in the Market Is at a Low Point. (Barron’s)
  • My View: Making credit options more accessible to Black business owners critical (Phoenix Business Journal) — Black-owned small businesses are closing at nearly twice the rate of the industry placing a spotlight on the lack of access to credit.

Black Business

Black Business General / Interesting Businesses Stories

  • Black female small business owners reveal their top advice, lessons learned (Yahoo News)
  • Black businesses making a difference in their communities and thriving despite COVID-19 (CBS News)
  • To this baker, promoting Black food businesses is more than just lip service (Washington Post)
  • Black-Owned Food Businesses Can Use Navy Yard Kitchen Space Rent-Free Under a New Program (DC Eater) — Uber Eats is actually putting their controversial commissions to good use with a sponsorship at Sandlot Southeast
  • Focus on Black-owned Businesses: Akron’s Tea Lady is third of five generations of entrepreneurs (Akron Beacon Journal)
  • In Gentrifying Atlanta, Black-Owned Food Businesses Are Banding Together to Survive—and Thrive (Yahoo Life)
  • Providing support for Black-owned businesses during Black History Month (KGW)
  • Top Black-Owned Products to Know (Consumer Affairs)
  • 90 Gifts From Black-Owned Businesses to Give This Year (Vogue)
  • How a Food Business Incubator Is Building Black Economic Strength in Minnesota (Civil Eats)
  • Three ways business can empower the Black family (Fortune)

Black Business Specific

  • Buy Black Trend Sees Staying Power With Corporate America Buy-In (Business of Fashion)
  • Brothers Offer Food Delivery Service from Black-Owned Restaurants (People) — Black and Mobile, founded by David Cabello and launched in 2019, serves customers in Atlanta, Baltimore, Detroit and Philadelphia
  • 5 Black-owned Brockton businesses you can support amid COVID and this Black History Month (The Enterprise) – Featuring Brockton restaurants and Brockton Beer Company
  • Focus on Black-owned businesses: Tallmadge woman capitalizes on charcuterie hobby (Akron Beacon Journal) – Home catering business featuring beautiful platters
  • Black owned QCS Logistics cashes out for an estimated $15 million (3x revenue) to Dropoff inc.(Nola.com) — Why the sale of this New Orleans East business is bittersweet for the Burns family. QCS grew from one-car outfit into regional service making 1,000 deliveries daily
  • Company Is One Of The Fastest Growing Businesses In The Country (Shoppe Black)

Big Business / Corporate

  • JPMorgan reveals the latest part of its $30 billion commitment to support Black and brown communities (Business Insider). This investment is the largest racial commitment by a corporation and it will address the closures of Black businesses and affordable housing.
  • DoorDash Establishes Grant Program For Women- And BIPOC-Owned Restaurants Disproportionately Affected By Covid (Forbes). This program will provide financial support and educational resources to Black businesses and others.
  • Louisville part of national push to support Black-owned businesses (Louisville Business First) — The program represents a $7.5 million investment into Black-owned businesses across the country.
  • LIT Brooklyn founder, Denequa Williams Clarke, Chats Business with the Hosts of Black Girl Podcast (Yahoo Finance)
  • Vimeo and Mailchimp Shine a Light on Black-Owned Businesses (Muse)
  • Jennifer Hudson Teams Up With Mastercard To Lead Initiative For Black Women Entrepreneurs (News One)
  • The First Is Always Last: The Scarcity Of Black CEOs In Corporate America (Forbes)

Discrimination

  • Bias, disrespect, and demotions: Black employees say Amazon has a race problem (Vox)
  • What’s Keeping Black Workers From Moving Up the Corporate Ladder? (Wall Street Journal)

Reparations / Affirmative Action / Diversity / Inclusion

  • Employers Want More Diversity. They May Need to Open Offices in New Places. (Wall Street Journal) – Geographic discrimination is at the core of the “Black Wealth Gap.” Here’s another example. It’s difficult to recruit a diverse workforce in an all-White suburb.  We keep reporting these “Duh? Really” stories, but it’s really just racism and White people running away from Black people.
  • Amid Black History Month Drops, Brands Discuss Diversity Efforts Beyond Product (WWD)
  • Has Black Lives Matter really helped African brands? (Vogue Business)
  • HP Inc’s Chief Diversity Officer (Diginomica)
  • As agencies drag their feet on diversity, some Black creatives take matters into their own hands (MM&M)
  • ‘Slavery ended over 130 years ago’: Former NFL player Herschel Walker says Black Americans shouldn’t get reparations (Business Insider)
  • What companies can do to speed up board diversity (Vox)
  • How To Level The Financial Playing Field For Women- And Minority-Owned Businesses (Forbes)
  • Google’s program for Black college students suffered disorganization and culture clashes, former participants say (CNBC)
  • Some ex-participants criticized a key Google scheme for Black students, saying it is riddled with issues (Business Insider)
  • At Disney, Black cast members are leading efforts for more diversity, inclusion (Atlanta Voice) – If you want to understand race in the corporate world, look at Disney.

Economics

Black Economics

  • The Black Woman Economist Who Pioneered a Federal Jobs Guarantee (INET)  — Institute for new economic thinking.  Sadie Alexander.
  • Whatever Happened to ‘Black Capitalism’: keynote speaker examines the past to find solutions for the present (The Sunflower) – Dr. Robert E Weems Jr. is a well known Black business historian.
  • These 15 charts show the inequalities Black Americans still face (Business Insider) – Updated with covid-19 information
  • The student debt forgiveness debate highlights the racial gap in what borrowers owe (CNBC)
  • The Bull Market in Stocks Has Blown Past Many Black Americans (Bloomberg). Although younger Black people are getting more involved in stocks, overall stock ownership is down. Ariel-Schwab Black Investor Survey.
  • Sexism in economics has implications far beyond academia (Fortune)
  • How Can Economic Justice Help Us Achieve Racial Justice? (Global Citizen)

Straight up Econ / The Economy

Co-Ops / Employee Owned / Cooperative Economics (Ujamaa)

  • South Mississippi business leaders starting Black-owned co-op (WLOX) – A co-working and event space. That’s a tough business.

Industry Stories

Sports / Media / Entertainment

  • OWN’s Newest Reality Series ‘Belle Collective’ Puts Black Female Entrepreneurs on the Map (Cheatsheet) – Black Women in Jackson, MS
  • Colin Kaepernick Targets a Socially-Driven Billion-Dollar Company With New SPAC (Black Economics UK)
  • Inside Chris Webber’s Mission to Help Black Entrepreneurs (Sports Illustrated)

Marketing / Advertising / Sales / Consumer Behavior

  • How This Black Woman Is Killing It In The Casino World (Forbes) Melonie Johnson is the first Black woman to run a casino in Atlantic City.

Alcohol / Marijuana / CBD / Gambling

  • While much of the country is at a standstill, the cannabis industry is hiring (Inlander). 
  • Black Brewers Make Their Mark In Craft Brewing Industry (Forbes)
  • Black-owned Lehigh Valley distiller Russell Fletcher looks to grow in Pa. and beyond (The Morning Call)
  • Urban One teams with Colonial Downs owner on $517 million casino resort in Richmond (Richmond Times Dispatch)
  • Trotwood wine cellar grows from childhood hobby (Dayton Daily News)

Beauty / Fashion / Retail

  • Nailed it: From Harlem to Hollywood, celebrity nail tech wants to inspire more Black people to join the field (NY Daily News)
  • Major Retail Chains Are Committing To Partnering With Black Designers (Forbes)
  • SheaMoisture And BROWN GIRL Jane Expand Their Support Of Black-Women Owned Businesses (Hello Bueatiful)

Technology / Apps / Innovation

  • This Google Maps feature highlights which San Antonio businesses are black-owned (My SA)
  • Bank of America Helps Fuel Black Innovation with Launch of the Center for Black Entrepreneurship In Partnership with Morehouse College, Spelman College and the Black Economic Foundation, Alliance, (Press Release) — The Initiative is Powered by a Two-Year $10 Million Grant

Finance / Investing / Venture Capital

  • 6 Black Financial Pros to Follow in 2021 (NerdWallet)
  • 8 Black financial advisors specializing in best practices and wealth management (Manchester Link) – New Hampshire
  • Black and LatinX female founders received record funding last year, but still got less than 1% of total venture funds (Business Insider)
  • More banks are key to minority business growth [column] (Lancaster Online)
  • Banks redouble efforts to aid Black-owned businesses (American Banker)
  • Ariel Investments, a Black-Owned Mutual Fund Secures $200 Million To Fund ‘Project Black’ Initiative (InvestingPort)
  • Chicago-based Ariel Investments launches ‘Project Black’ to grow minority-owned businesses with $200 million from JPMorgan Chase (Chicago Tribune)
  • Analysis: For Black founders, venture funding remains elusive despite new funds (Reuters) – a review of VC investing in Black firms.
  • For Black-owned businesses, venture capital still elusive (CS Monitor)
  • Black History Month: Blacks face challenges rising in financial and banking fields (Sun Sentinel)
  • New OP neobank raises $5M, aims to bolster Black financial livelihood (Kansas City Business Journal)

Real Estate / Finance / Development / Housing / Segregation

  • The Promise Of briefs: Report shows Black homeownership far short of national rate; Small business grant program launched (Triangle Business Journal)
  • South Florida by the numbers: Black achievement in real estate and business (Real Deal)
  • Over-The-Rhine: Is this a model for urban renewal or a warning sign? (BBC News)
  • PREIT Launches Initiative to “Support Black-Owned Business and Brands 365” (Press Release) – PREIT – Real Estate Investment Trust owns a bunch of small shopping malls in Black areas and is spotlighting Black business at their malls. Everyone is making money off Black people.
  • PREIT.COM  — Website has a list of properties and locations
  • Rapid development risks erasing Black homeownership legacy in Charlotte  (Greensboro News Record)
  • Mapping Charlottesville plots a history of racial discrimination through Charlottesville property deeds (Daily Cavalier) – University of Virginia

Politics / Government / State and Local

  • Black legislators to push for more government contracts for ethnic minority-owned businesses (Minneapolis Business Journal) — A group of Minnesota Black legislators want 15% of all government contracts to go to businesses owned by entrepreneurs of color.
  • Remarks by President Biden on Helping Small Businesses (White House)

Education / Healthcare

Farming / Agriculture / Food

  • Black-Owned Farms Are Holding on by a Thread (Eater)
  • Alabama’s aging Black farmers uncertain about future as they struggle to create lines of succession (Gadsden Times)
  • Black Bodega in Bronx celebrates grand opening and brings jobs to a struggling community (AMNY)

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • The new face of entrepreneurship (OZY)
  • Focus on Black-owned businesses: Tallmadge woman capitalizes on charcuterie hobby (Akron Beacon Journal) – Home catering business featuring beautiful platters
  • Entrepreneurship is the key to building Black wealth in America. 4 cities are leading the way in supporting business owners. (Business Insider)

People / Motivation / Leadership / Success Stories / Ideas

  • Lately, Adenah Beyoh has been everywhere in the news (AdenahBeyoh.Com)
  • Meet the New Jersey woman who owns over $200 million in real estate and several restaurants (Black Enterprise)
  • Bayoh cuts ribbon on IHOP location in downtown Newark (ROI-NJ)
  • Weequahic HS Alum, Business Owner Making Her Mark In Newark (Patch)
  • Crystal Turner-Moffatt Leads from Center Stage as the Safety Diva (EHS Daily Advisor) – A great career if you can cut it.
  • 25 Black businesspeople who helped shape America (KAKE)
  • Meet 10 More Black Women Entrepreneurs Preparing To Win Big For Their Businesses (Essence)
  • Black owned QCS Logistics cashes out for an estimated $15 million (3x revenue) to Dropoff inc.(Nola.com) — Why the sale of this New Orleans East business is bittersweet for the Burns family. QCS grew from one-car outfit into regional service making 1,000 deliveries daily

All Other

Caribbean / Africa / International

  • Africa’s economy could grow 10% by taking women more seriously (Quartz Africa)

Travel / History

  • Black Broadway in DC: A New Book Explores the Undeniable Influence of U Street’s History (Washingtonian) — Bustling nightlife, thriving Black-owned businesses, and brilliant minds.
  • Historically Black Neighborhood Slowly Rebuilds Its Entrepreneurial Community (Spectrum News) – Corey Purdie wants to help revamp Broad Street
  • Black business owners fight to restore culture in Portland’s historic Albina neighborhood (Denver Channel) – Albina was once hub for African Americans until gentrification.
  • Thaddeus Tate, one of Charlotte’s most prominent Black businessmen of the early 1900s (WCNC)
  • A century before civil rights, Black oystermen in Suffolk forged economic independence (Virginian-Pilot)

Opinion

  • Black businesses support raising the minimum wage. Why doesn’t the rest of Corporate America? (CNBC)

Other

  • Black moms facing the toughest childcare crunch: How policy can help (Brookings)

Stories Feb 15th to 21st 2021

Four states and D.C. had labor force that was more than 30 percent African American in 2020 (Bureau of Labor Statistics)

Top Stories

  • Rep. Ayanna Pressley, Black Economists Back Federal Job Guarantee Resolution (NewsOne). Rep. Ayanna Pressley Calls for a Federal Job Guarantee for All Americans (Bloomberg). Creating federal work programs will help combat the high unemployment rate.
  • Black Families Have a Major Stake in the Future of the Postal Service (Inequality). Could the postal service close the racial wealth gap by providing financial services to the public.
  • Beyoncé Put this Black Woman-Owned Skateboard Company on the Map (Bloomberg)
  • Reparations for slavery could have reduced Covid-19 transmission and deaths in the US, Harvard study says (CNN). Reparation made before the pandemic would have reduced the number of cases by 31% to 68% in Louisiana.
  • Investors are missing out on Black founders (TechCrunch)
  • Four states and D.C. had labor force that was more than 30 percent African American in 2020 (Bureau of Labor Statistics)

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • House Stimulus Package Proposal Pares Federal Unemployment Benefits By $1,600; Keeps Income Thresholds For Full $1,400 Stimulus Check (Forbes)
  • Black small-business owners are being left behind in the pandemic, survey finds (CNBC). Only 37% of Black businesses say they can survive under the pandemic restrictions for more than a year.
  • Understanding The Reopening Of The Paycheck Protection Program (Forbes)
  • Comcast launches grant program for businesses economically impacted by COVID- 19 (Philadelphia Tribune)
  • Black leaders want targeted federal funds for Black businesses hit hard by pandemic (CNN)
  • Latest Round Of PPP Could Better Benefit Black-Owned Businesses (KMUV)

Jobs / Workers / Unemployment / Gig Economy

  • Rep. Ayanna Pressley, Black Economists Back Federal Job Guarantee Resolution (NewsOne). Rep. Ayanna Pressley Calls for a Federal Job Guarantee for All Americans (Bloomberg). Creating federal work programs will help combat the high unemployment rate.
  • Black Families Have a Major Stake in the Future of the Postal Service (Inequality). Could the postal service close the racial wealth gap by providing financial services to the public.
  • GM helped propel Black workers into the middle class (Herald Bulletin)
  • How economists see Biden’s $15 wage proposal (PBS)
  • Unemployment Continues to be Highest for Women of Color (The 19th)
  • Four states and D.C. had labor force that was more than 30 percent African American in 2020 (Bureau of Labor Statistics)

Inequality / Systemic Racism / Economic Justice

  • Rethinking Policy for Black America (Vox) — These policies can help dismantle inequities in education, housing, health, policing, and more.

Black Business

Black Business General / Interesting Businesses Stories

  • Black-Owned Businesses Hold the Key To Reenergizing Miami’s Overtown (Thrillist)
  • This New Union Market Store Is a “One-Stop Experience for Shopping Black-Owned” (Washintonian)
  • Original Black Panther member creates trailblazing community organizations in Oakland (ABC)
  • Ariel to invest in minority-owned businesses with $200M from JPMorgan (Chicago Business Journal)
  • How These Black-Owned Businesses Carved Their Own Path in Local Communities Amid the Pandemic (Inside Edition)
  • Being Black-owned helped this uptown Charlotte restaurant survive during COVID (Charlotte Observer)
  • Shawn Michelle’s is serving a community along with artisan ice cream — how Chicago’s Black-owned restaurants are faring during pandemic (Chicago Tribune)
  • As ‘a love letter to Black women,’ tea shop on KC dividing line empowers community (Kansas City Star) – Nika’s tea shop is dedicated to the peace and mind of Black women.
  • In A State Where Entrepreneurship Lags Among People Of Color, Some Promising Signs (WFYI)
  • Black Business Spotlight: Mind’s Eye Comics (MSR) – Childs is on a quest to
  • promote Black authors, creators, and writers.
  • Even with Biden stimulus, US minority entrepreneurs fear for survival (Yahoo Finance)
  • In A State Where Entrepreneurship Lags Among People Of Color, Some Promising Signs (WFYI) – Indianapolis. The only remaining Black business in the state finally got a PPP loan.
  • 25 Black businesspeople who helped shape America (Tuscon.Com)
  • The new face of Entrepreneurship (OZY) – a collection of stories about Black businesses.
  • Minorities struggle to become entrepreneurs in Utah, report says, and pandemic makes it tougher (KSL)

Black Business Specific

  • Beyoncé Put this Black Woman-Owned Skateboard Company on the Map (Bloomberg)
  • Carrying a Legacy: Lafayette County’s oldest active Black-owned business (Oxford Eagle)
  • Diversified Chemical Technologies, Inc., African American Owned Manufacturer in the City of Detroit, Celebrates 50 Years In Business And Appoints New President To Lead The Company (Michigan Chronicle)
  • Brewers and filmmaker look to increase diversity in craft beer industry (TMJ4)

Big Business / Corporate America / PR

  • Apple launches inaugural Entrepreneur Camp for Black Founders and Developers (Apple Newsroom)
  • Aunt Jemima gets rebranded by PepsiCo (The Ticker)
  • Wells Fargo Provides $5 million to Local CDFIs to Help Small Businesses Impacted by COVID-19 (Norwood News)
  • PNC Bank commits $1 billion ‘to help end systemic racism’ (Denver Business Journal)
  • Marty Walsh promised 25% Of Boston’s Contracts To Go To Women, Minority-Led Firms (WBZ) – At least 15% to women owned firms and 10% to minority owned firms.
  • Boston’s new contracting goal could steer an additional $160 million to entrepreneurs of color over the next few years (Boston Globe)

Discrimination

  • Herb Washington, Black franchisee, accuses McDonald’s of racial discrimination (CBS News)
  • Minority groups file discrimination complaint against Boston over contract procurement (Boston Herald)
  • Black North Carolina firefighters file discrimination suit (AP)
  • Google to provide digital skills training for 100,000 Black women (Google) – Starting with sororities
  • I breastfed all 10 of my kids. Black moms need better nursing policies in the workplace (Tallahassee Democrat)
  • LinkedIn Research Shows Nearly 50% Of Black Professionals Have Faced Discrimination At Work (CBS Miami)
  • New Study Shows That Nearly Half Of Black Professionals Have Faced Blatant Discrimination At Work (Essence)

Reparations / Affirmative Action / Diversity / Inclusion

  • House subpanel to hold hearing on reparations for Black Americans (The Hill)
  • Biden backs reparations study, as House Dems push for commission (Moultrie Observer)
  • Reparations for slavery could have reduced Covid-19 transmission and deaths in the US, Harvard study says (CNN). Reparation made before the pandemic would have reduced the number of cases by 31% to 68% in Louisiana.
  • Companies have been trying (and failing at) diversity training for 50 years (Fast Company)
  • Twitter commits that 25% of its executives will be minorities or women by 2025 (CNBC)
  • Mastercard Introduces Strivers Initiative To Support Black Women-Owned Businesses (PYMNTS)
  • This Wall Street veteran is working to bring diversity to corporate America (CNBC)

Economics

Black Economics

  • Four states and D.C. had labor force that was more than 30 percent African American in 2020 (Bureau of Labor Statistics)
  • Economic Recovery Must Center Black Workers (The Center for Law and Social Policy)
  • Arthur Lewis is mentioned in a story about developmental economics (Millennium Post)
  • State of Black New York: Income inequality and race (Radio) – Several stories about economic inequality in NYC. Canidate Kathryn Garcia suggests jobs and workforce development.
  • In-depth: Why minorities say it’s harder to start and grow a business (ABC Action News)
  • Baby bonds could shrink the Black-white wealth gap (Vox)
  • Business is Education (Evanston Roundtable) — Facebook group launched to raise money for local Black-owned businesses shifted its focus raise awareness for African-American education.

Research

  • Library of Congress
  • African Americans in Business and Entrepreneurship: A Resource Guide (LOC) – Library of Congress
  • African Americans in Science and Business Blog (LOC)
  • African Americans in Business and Entrepreneurship: A Resource Guide (Teaching Resources)

Industry Stories

Sports / Media / Entertainment

  • Long story about Project to Preserve African American Turf History (Thoroughbred Daily) – Black in the horse racing industry.
  • HBCUs are landing top recruits — but systemic change requires something more (Washington Post)
  • New ‘Green Book’ Showcases Black Contributions To Today’s Comics Business (Forbes)

Alcohol / Marijuana / CBD / Gambling

  • The Cannabis Industry Has a Chance to Change the World (Green Entrepreneur). The industry is looking to destigmatize cannabis for Black people and businesses.
  • 32% Cannabis Job Growth In 2020, Despite COVID-19 (The Fresh Toast)
  • Legal marijuana jobs booming, study finds (The Hill)
  • Guidance Whiskey Owner is Helping to Lift Up Other Black Businesses in Nashville (Thrillist)
  • Black And Female Winemakers You Can Support Today: An Interview With Ruben Morancy Of Adams Wine Shop (Forbes)

Beauty / Fashion / Retail

  • Highlighting a San Diego Black Hair Care pioneer (CBS)
  • What four Black, female business owners have to say about representation in the beauty industry (Fox 43) – While representation in beauty industry has improved, there is still much work to be done.

Technology / Apps / Innovation

  • Blackistory: Milwaukee-based Family Business Launches Educational Black History App For Mobile Devices (Milwaukee Independent)
  • Google feature aims to make finding Black-owned businesses easier (ABC) – Businesses now have the chance to add ‘Black-owned attribute’ via Google Merchant Help Center
  • Black Woman Leads Charge for Change Among Silicon Valley Entrepreneurs (Yahoo news /CBS San Francisco)

Finance / Investing / Venture Capital

  • Investors are missing out on Black founders (TechCrunch)
  • St. Pete investment firm with new minority focus closes first funding round (Tampa Bay Business Journal)
  • Seedfunders Opportunity Fund (Seedfunders) – Funding to support Black business
  • Tri-State Bank brings in interim CEO, marking its fourth leadership change in five years (Commercial Appeal) – Memphis.  If you want to know how hard it is to run a Black bank with a dwindling customer based., look no further.
  • NJ Forty Acres and a Mule fund launched to support  Black and Latinx Businesses (NJ TapInto) – NJ FAM Fund
  • Ariel Investments, America’s First Black-Owned Mutual Fund Giant, Launches Fund To Close The Racial Wealth Gap (Forbes)

Real Estate / Finance / Development / Housing / Segregation

  • CUs Owe It to Members to Reverse Financial Exclusion Driving the Black-White Homeownership Gap (Credit Union Times)
  • Chase doubles housing grant program as American banks reckon with low minority homeownership (CNBC)
  • The stark racial gap in homeownership (Axios) — The homeownership rate for Black families is nearly 30 percentage points lower than that for white families
  • A historic housing crisis has America in its grip. Can Marcia Fudge save the day? (USA Today)

Cities / Urban Planning / Local Government

  • Before urban renewal, much of Saratoga Springs was a different world (Albany Times Union)
  • Black Women and the Wealth Gap: Best Cities to Flourish Financially (Money Geek)

Taxes / Tax Policy

  • Comment: We need tax fairness and investment, not austerity (HeraldNet) — Racial and economic equality requires lawmakers to fix a regressive tax code and preserve state jobs.
  • Washington still has the nation’s most inequitable state tax code (Washington Budget and Policy Center)

Law / Legal / Non-profits / Philanthropy / Non-Profit

  • BigLaw Puts Brawn Behind Pro Bono Black Business Efforts (Law 360)

Education / Healthcare / Institutions

  • 9 HBCUs On Board In $130M Economic Mobility Plan To Revitalize Southern Communities (University Business)
  • How higher education is failing Black Americans in the Midwest (Crains Business Cleveland)
  • ‘Nation will surely suffer’ without the next generation of Black educators (Yahoo Money)
  • Putting student loan forgiveness in perspective: How costly is it and who benefits? (Brookings)
  • Supporting Black-owned Businesses Through Tech Platforms (National Black Chambers of Commerce) – Harry Alford is president of the NBCC.  Every editorial position is suspect since they took money from gig companies to support prop 22 in California. Now are they taking money from big Tech ?? This is not going to end well.

Farming / Agriculture / Food

Science / Math / Statistics / STEM

  • Black Women Inventors Recall Their Paths to Success (IPWatchDog)

Business Strategy / Governance

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Ariel launches effort to boost minority managers (Pensions & Investments)
  • This ready-to-eat food startup relies on inspiration from traditional recipes (Fortune)
  • A Dozen Cousins Here
  • Startup incubator scheme for black-owned food & drink brands Add Psalt launches (The Grocer) – UK
  • Black women executives making history in the c-suite offer career advice to those following in their footsteps (CNN)

People / Motivation / Leadership / Success Stories / Ideas

  • Black-owned beauty brands and founders breaking billion-dollar barriers (CNBC)
  • Black In Business: Meet The Next CEO of Walgreens, Rosalind Brewer (WBLS)
  • 5 life and career lessons from Black business leaders (NBC News)
  • 8 Black Financial Influencers to Follow in Honor of Black History Month (Yakima Herald)
  • Why I Started a Business During Quarantine (Essence) – How three sisters turned challenging times into golden opportunities.
  • Leonard Miller recalls 72 years of living in Ashtabula, working as first African-American foreman at Raser Tanning Co. (Ashtabula Star Beacon)
  • Cynthia Marshall, of the Dallas Mavericks. Is the first Black Women CEO in the NBA.
  • Legendary Black Entrepreneurs (Investopedia)

All Other

Caribbean / Africa / International

  • A Black woman will be the world’s top trade official for the first time (CNN)

Travel / History

Conservative / Alternative

Opinion

  • I breastfed all 10 of my kids. Black moms need better nursing policies in the workplace (Tallahassee Democrat)
  • I think generational wealth is a key to liberating people of color from systemic oppression, but it’s not all about having a fat bank account (Business Insider)
  • The Way Out of America’s Zero-Sum Thinking on Race and Wealth (NY Times) – Heather McGhee

Other

Stories Feb 8th to 14th 2021

Top Stories

CT-Based Entrepreneur Creates First Black-Owned Cereal During Pandemic (NBC New York). Nic King is the founder of Proud Puffs, a vegan, gluten free, black owned cereal brand.

Facebook Launches New Platform to Highlight the Work of Black Creators, and a New Guide for Businesses (Social Media Today)

This map shows the last time each state raised its minimum wage (Business Insider). 74 states, counties, and cities have raised their minimum wage to $15 or higher.

Dealing Detroiters into legal marijuana industry won’t be easy (Detroit Free Press). The goal is to introduce recreational marijuana businesses in Detroit.

With New Digital Banking Offerings, Greenwood Aims To Close Racial Wealth Gap (Forbes)

Three ways the Biden administration can promote economic security for Black Americans (Brookings Institute)

Atlanta Beltline

The Atlanta Beltline shows just how difficult it is to make big improvements for a large number of people when a small, vocal group of citizens opposes the change. The value created is immense and the losers are small.  But getting even the small number of losers to give something up is almost impossible, especially land or money (taxes).

Beltline moves to fulfill promise of job creation with loop’s completion in southwest Atlanta (Atlanta Business Chronicle)

Atlanta BeltLine Seeks Funding to Complete Trails Before 2030 (Beltline) – PR release.

New Avenues of Funding to Finish the Project (Beltline)

Stories

Jobs / Workers / Unemployment / Gig

The Congressional Budget Office says raising the minimum wage to $15 will kill jobs. That’s not the whole truth — here’s why. (Business Insider)

Latina and Black women lost jobs in record numbers. Policies designed for all women don’t necessarily help. (Washington Post)

US jobless claims fall slightly to 793,000 with layoffs high (Associated Press)

U.S. State Jobless Claims Ease While Federal Programs Swell (Bloomberg)

This map shows the last time each state raised its minimum wage (Business Insider). 74 states, counties, and cities have raised their minimum wage to $15 or higher.

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

Some Black-Owned Businesses Are Turning To New Banks For Paycheck Protection Loans (NPR)

Second round of PPP promises to prioritize underserved businesses. Is it working? (News & Observer) — The U.S. Small Business Administration (SBA) recognizes Black entrepreneurs face socioeconomic and capital funding obstacles when starting and expanding a business

Jobs / Workers / Unemployment / Gig Economy

Inequality / Systemic Racism / Economic Justice

How Can You Truly Make a Difference for Black History Month? (Entrepreneur) –

CEO of Kanarys wants to see more organizational change during Black History Month

Inequality, discrimination part of Black History (Boston Herald)

Race & Equity: Why tackling inequality is everybody’s problem (San Francisco Business Times) – A universal case to close the racial wealth gap.

Black and Latino-owned businesses facing economic peril get $1.1M in relief from Nonprofit (AMNY)

Black Business

Black Business General / Interesting Businesses Stories

Kamala Harris and Black business leaders collaborate on economic plan (The Grio)

Black-owned businesses, New Era Las Vegas create ‘safe zones’ for those in danger (News 3) — A local community activist is teaming up with Black-owned businesses across the valley to create safe zones for people who find themselves in dangerous situations.

Black businesses are still struggling. This Black S.F. leader says it’s time to change the narrative. (San Francisco Business Times)

Britain’s Minority Businesses Punch Above Their Weight But They Need Help (Forbes)

The Fall And Rise Of Black Businesses In 2020 (Forbes) — Access to capital became a roadblock for the survival of black owned businesses.

Black History Is Our History: Black Business Owners Hope Their Example Inspires Other African Americans To Become Entrepreneurs (CBS New York)

Richland woman creates a new program to help minority-owned businesses (NBC Right Now)

Black Business Specific

CT-Based Entrepreneur Creates First Black-Owned Cereal During Pandemic (NBC New York). Nic King is the founder of Proud Puffs, a vegan, gluten free, black owned cereal brand.

Collier Brothers Auto Body, among the oldest Black-owned businesses in St. Louis, to mark 75 years (STL Today)

Big Business / Corporate America

PepsiCo rebrands Aunt Jemima as Pearl Milling Company, coming June 2021 (Fox Business)

Facebook Launches New Platform to Highlight the Work of Black Creators, and a New Guide for Businesses (Social Media Today)

BET And Facebook Elevate Partner For Fireside Chat Series On Black Entrepreneurship (BET)

During Black History Month, T-Mobile Launches Programs Focused On Driving Opportunity For Students, Tech Workers And Business Owners (KXRO)

Pascale Sykes Foundation commits $1M to help expand opportunities for Black business enterprises (roi-nj.com)

Update on McDonalds: Lawsuits and changes at the company (Business Insider)

Reparations / Affirmative Action / Diversity / Inclusion

Filling The Industry Gap (Orlando Business Journal) — Three local Black executives in tourism, sports and related services share their insight on how to welcome more diversity in the workplace.

SmartSteps microlending program helps minority, women-owned businesses (WTXL)

Black-owned e-tailers are creating a ‘one-stop shop’ for BIPOC-founded beauty (Glossy)

For Black Women Entrepreneurs, Access to Resources is as Crucial as Cash (Triple Pundit) — Companies led by women of color CEOs score far less than 1 percent of all venture capital funding.

Economics

Black Economics

Four ways to help close the racial wealth gap in the U.S. (Axios). JP Morgan Chase is helping to close the racial gap by increasing the Black homeowner rate, Black businesses, and helping with financial goals.

Chandler, Mesa among cities where Black Americans fare best economically (AZ Big Media)

Black-owned metro bank helps communities of color develop financial clout, build Wealth (Fox 4)

Research shows minority businesses have lower loan approval rates compared to their white counterparts (KXXV)

Access to credit for Black and African American small businesses (Chamber

Business News) — More than one third or 35% of Black and African American business owners said they had some level of difficulty accessing credit.

Citi’s $2.5 Billion Bond Issuance Levels Up With Black-Owned Firms (Forbes)

South Africa’s black business lobby hails Tourism Equity Fund as a ‘good start’  (Africa Report) — South Africa’s Tourism Equity Fund (TEF) is a good start to advance black economic empowerment in the sector.

Illinois Black Chamber of Commerce leader Larry Ivory: ‘We have a serious

problem’ (Journal Star) — Ivory estimated less than 1% of the businesses in Peoria are owned and operated by African Americans.

Straight up Econ / The Economy

This map shows the last time each state raised its minimum wage (Business Insider). 74 states, counties, and cities have raised their minimum wage to $15 or higher.

Putting student loan forgiveness in perspective: How costly is it and who benefits? (Brookings Institute)

Industry Stories

Sports / Media / Entertainment

How Black Communities Shaped The Internet (The Verge)

Alta Adams Restaurant Kicks Off LA Clippers’ Promotion Of Local Black-Owned Businesses (Forbes)

Alcohol / Marijuana / CBD / Gambling

Dealing Detroiters into legal marijuana industry won’t be easy | Opinion (Detroit Free Press). The goal is to introduce recreational marijuana businesses in Detroit.

First local Black-owned brewery owner: ‘Set out to make really good beer’ (Dayton)

The Drink Black Movement Must Tap the Source (WineMag) — In the wine and spirits industry, Buy Black soon turned into Drink Black.

Beauty / Fashion / Retail

Sharon Chuter’s “Make It Black”: Here’s All You Need to Know (Teen Vogue) — Brands have repackaged some of their cult products in all-black.

Retailers Pledged Action on Diversity. Delivery Is Proving More Elusive (Business of Fashion)

Technology / Apps / Innovation

The Making Of The First Black-Owned Computer Brand (Forbes)

How Kerin John’s online platform is making it easier to find Black-owned businesses in Toronto (Face2Face Africa) — A Canadian entrepreneur has launched an online store and database to help people easily find Black-owned businesses in the city of Toronto.

African Americans Can Now Find Black-Owned Businesses & Events Nationwide With a Click of a Button (Cision) – Press Release

Finance / Investing / Venture Capital

  • Phyllis Newhouse, founder and CEO of Xtreme Solutions in Atlanta, will lead a $250 Million dollar SPAC, Athena Technology Acquisition Corp., making her one of the few women who serve as SPAC CEOs. (Atlanta Business Chronicle) – Special Purpose Acquisition Corporation is a fund raising tool, like an IPO, without the underlying company.  It is a bet on the owner to buy a company to run.
  • Robert F. Smith, Vista Equity Partners: How some bets on Minnesota companies paid off for investor (Minneapolis Star-Tribune)
  • With New Digital Banking Offerings, Greenwood Aims To Close Racial Wealth Gap (Forbes)

Cities / Urban Planning / Local Government

The Atlanta Beltline shows just how difficult it is to make big improvements for a large number of people when a small, vocal group of citizens opposes the change. The value created is immense and the losers are small.  But getting even the small number of losers to give something up is almost impossible, especially land or money (taxes).

  • Beltline moves to fulfill promise of job creation with loop’s completion in southwest Atlanta (Atlanta Business Chronicle)
  • Atlanta BeltLine Seeks Funding to Complete Trails Before 2030 (Beltline) – PR release.
  • New Avenues of Funding to Finish the Project (Beltline)
  • How city planning broke up a Black business district (News Observer) — The effort to redevelop Rauhut Street was among countless examples of government-sanctioned efforts to relocate Black-owned businesses.

Politics / Government / State and Local

  • Three ways the Biden administration can promote economic security for Black Americans (Brookings Institute)

HR / Personnel / Human Capital

It’s not a Black woman’s job to be less threatening in the workplace. (Business Insider)

Education / Healthcare

9 HBCUs join $130M economic mobility plan to boost South (University Business). IU Kelley School of Business receives $1M donation to support minority recruitment program (Indy Star)

coalition will spread to seven cities and will help Black businesses who are struggling the most during the pandemic.

Farming / Agriculture / Food

  • Black Restaurant Challenge: How MIDA Is Giving Back To The Community (GBH) – Challenges seeks to help Black restaurants gain exposure
  • ‘One of the Best Years of My Life’: New Gainesville Black-Owned Food Businesses Flourishing (WUFT)
  • Chicago Black Restaurant Week Partners With Uber Eats (Chicago Eater)
  • Chicago Black Restaurant Week Starts Sunday (NBC Chicago)

Science / Math / Statistics / STEM

NASA hosts panel celebrating Black leaders at NASA (Click Orlando)

People, Careers and All Other

Career / Professions / Entrepreneurship / Businesses You Can Start

Celebrating Black History: Highlighting Black entrepreneurship in Mississippi (WLBT)

People / Motivation / Leadership / Success Stories / Ideas

CT-Based Entrepreneur Creates First Black-Owned Cereal During Pandemic (NBC New York)

Successful Black women in Jersey City (The Hoboken Girl) – Plus their favorite, local Black business

QueenCare To Open New Location, Seeks To Help Inspire Resurgence In Black Business Development (Seattle Medium)

Black-owned businesses: Stow engineer turns car detailing passion into secondary Income (Akron Beacon Journal) — Mobile Foamzone & Detailing is a mobile interior and exterior vehicle cleaning service that will travel to Akron and surrounding communities.

Caribbean / Africa / International

Businesses led by ethnic minorities contribute £74bn annually to UK economy (Yahoo Finance)

Ethnic minority firms excel ‘against the odds’ in the UK (Reuters) – Ethnic minority entrepreneurs perform strongly in tech, innovation and efforts to combat the coronavirus.

COCA-COLA SA TO TRANSFER AN ADDITIONAL 10% OF SHARES TO EMPLOYEES (Eyewitness News) – South Africa.  Coca-cola transfers share to meet Black ownership goals.

Workers to own 20% of Coca-Cola as part of BEE deal (MoneyWeb) – South Africa. A great model for the United States.

Travel / History

Asheville Black Wall Street: Reflecting on 100 years since the Tulsa Race Massacre (Citizen Times)

Opinion

Opinion: Removing the barriers to local Black economic development (Boston Business Journal)

Black Business Stories for Feb 1st to 7th 2021

Top Stories

  • Why Are There So Few Black Economists at the Fed? (New York Times)
  • ‘Better Business Bureau meets Consumer Reports’: Black Dollar Index ranks companies by support of Black America (USA Today).
  • Two Biden Priorities, Climate and Inequality, Meet on Black-Owned Farms (New York Times). Black run farms account for 2% of the nation’s farms, down 12% from 1920. 
  • Columbus moving company, America’s oldest running Black-owned business, celebrates 140 years (10 TV)
  • ‘Better Business Bureau meets Consumer Reports’: Black Dollar Index ranks companies by support of Black America (USA Today).
  • Black Philadelphia renters face eviction at more than twice the rate of white renters (The Philadelphia Inquirer)
  • Two Biden Priorities, Climate and Inequality, Meet on Black-Owned Farms (New York Times). Black run farms account for 2% of the nation’s farms, down 12% from 1920. 

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • What it means to return to a “pre-pandemic” economy (Marketplace)
  • Minority-owned small businesses hit harder during pandemic (KSHB-TV)

Jobs / Workers / Unemployment / Gig Economy

  • New Department of Labor statistics show racial disparities within unemployment and job loss (WWLP)
  • About 275,000 women left workforce in January in ‘critical’ pandemic trend, experts say (NBC News). The unemployment rate for Black women in January was 8.5%.
  • Raise the minimum wage—and stop subsidizing corporations that underpay their workers (Fortune)
  • Google CEO and HBCU leaders discuss talent pipeline for Black tech workers (News Channel)

Inequality / Systemic Racism / Economic Justice

  • Zuckerberg Part of $100M ‘California Black Freedom Fund’ (US News) — Five-year initiative will provide resources to Black-led organizations in the state that are seeking to eradicate systemic racism.
  • How urban revitalization was used to break up a Black business district in North Carolina (Times News)
  • Why the Richmond Fed has zero Black Ph.D. economists (Virginia Business) — Bank working to improve talent pipeline, mentorship opportunities

Black Business

Black Business General / Interesting Businesses Stories

  • Tale of survival: Documentary tells story of extraordinary Black community in Tulsa (Albuquerque Journal)
  • ‘Better Business Bureau meets Consumer Reports’: Black Dollar Index ranks companies by support of Black America (USA Today).
  • Why Minority-Owned Businesses Struggle to Survive Amid Pandemic (Investopedia)
  • 6 Effective Ways To Team Up With Local Businesses (Forbes)
  • The cities with the most minority-owned startups (SCNOW)
  • St. Louis program seeks Black and Latinx entrepreneurs to invest in and elevate their business (KSDK)
  • ‘It’s not just a fad’: Black-owned businesses lack support months after George Floyd movement (Global News)
  • Orlando attraction features ‘bright futures’ for Black History Month (Click Orlando) — Wall Crawl hopes to highlight amazing women who are struggling to stay afloat
  • Why Black-owned businesses are struggling to stay afloat (CNBC)
  • Will Support for Black-Owned Businesses Continue in 2021? (5280)

Black Business Specific

  • Columbus moving company, America’s oldest running Black-owned business, celebrates 140 years (10 TV)
  • Local historian relaunches Detroit tour company after battling COVID-19, losing mom in 2020 (WXYZ)
  • Ellicott City woman provides local, global jobs while creating beauty products for Black women (Capital Gazette)

Big Business / Corporate

  • Honoring the legacy of Black-owned businesses in the U.S. (Google). Google announces a new shopping feature that will make it easier to find Black owned businesses. 
  • Black CEO Ranks Dwindle With Ken Frasier’s Exit (Bloomberg)
  • Gap Join 15% pledge (Bloomberg)
  • Google adds Black-owned business label to product results (Search Engine Land)
  • Honoring the legacy of Black-owned businesses in the U.S. (Google Blog)
  • Target expands Black History Month collection (Star Tribune)

Discrimination

  • Boston spent $2 billion dollars over 5 year but only 1.2% went to Black and Latino businesses (Boston Globe)
  • Racism in real estate? Major Realtors’ association confronts the issue (Miami Herald)
  • Black restaurant servers were tipped less than others in retaliation for enforcing social distancing, report says (Washington Post)
  • The Navy’s Racial Bias Report (KPBS)
  • Crain’s survey of businesses in northeast Ohio: Black-owned businesses say they’re at a disadvantage (Crain’s Cleveland business)

Reparations / Affirmative Action / Diversity / Inclusion

  • Reparations, Six Months Later: So Far, Empty Promises (Blue Ridge Public Radio)
  • There are no Black execs at the top of Britain’s biggest companies (Philadelphia Tribune)
  • ‘We need to see ourselves’: Md. woman uses business to uplift Black women entrepreneurs (WJLA)

Economics

Black Economics

  • Why Are There So Few Black Economists at the Fed? (New York Times)
  • Why the Richmond Fed has zero Black Ph.D. economists (Virginia Business) — Bank working to improve talent pipeline, mentorship opportunities
  • There’s a ‘credit gap’ between Black and white Americans, and it’s holding Black Americans back from building wealth (Business Insider)
  • Black households were concentrated in distressed areas of Northern cities years before the federal government created color-coded maps to indicate investment risk. (NBER)
  • The Economist Placing Value on Black Women’s Overlooked Work (NY Times) — Community activism by Black and other marginalized women goes under looked.
  • MLK Lecture connects King’s legacy with economic responsibilities today (Emory)
  • ‘The second way’ to close the wealth gap (American Banker) — Here’s what banks and government can do to stimulate small-business growth.
  • The Importance Of Social Capital, According To One Black Female Founder (Forbes)

Industry Stories

Sports / Media / Entertainment

  • A 50th anniversary conversation with Earl “Butch” Graves Jr. of Black Enterprise (The Business Journals) – Sponsored conversation by JPMorgan Chase
  • Orlando Magic’s Esu Ma’at shares how NBA team recruits Black executives (Orlando Business Journal)
  • From James Brown to Joe Armstrong, Black-owned WJBE promotes the ‘unity’ in community (Knoxville News)

Alcohol / Marijuana / CBD / Gambling

  • Portland distillery gets a boost from Beyoncé (KGW)
  • Get to know Nayana Ferguson, the first Black woman to operate a tequila brand (Face 2 Face Africa)
  • Pot Push to Put Social Justice in the Spotlight: Cannabis Weekly (Bloomberg)

Beauty / Fashion / Retail

  • How Black-owned haircare brands scale up (Vogue)

Technology / Apps / Innovation

  • Chicago Tech Incubator called “1871” help black Entrepreneurs deliver on ideas (Chicago Sun Time)
  • Google Highlights Black-Owned Businesses On Shopping Tab (PYMNTS)

Finance / Investing / Venture Capital

  • Black-Owned Banks and the Communities They Serve (Federal Reserve Bank of St. Louis)
  • Largest Black Owned Bank Focuses on Closing the Racial Wealth Gap (Chicago Defender)
  • Top-Ranked Minority-Owned Finance Firm Invests in Future of Historically Black Colleges and Universities (Intrado Global News Wire)
  • What Biden needs to get right about closing the venture capital racial gap (Quartz)
  • Female-Founded Fintech Makes It Easy To Invest In Minority And Women Entrepreneurs (Forbes)
  • Bitcoin And Black America With Isaiah Jackson (Bitcoin Magazine). Link to a podcast episode.
  • 19 Black owned banks and how to support them (Black Star News)

Real Estate / Finance / Development / Housing / Segregation

  • Black Philadelphia renters face eviction at more than twice the rate of white renters (The Philadelphia Inquirer)
  • Racism in real estate? Major Realtors’ association confronts the issue (Miami Herald)

Politics / Government / State and Local

HR / Personnel / Human Capital

  • Google CEO and HBCU leaders discuss talent pipeline for Black tech workers(CNN) – Not as easy as everyone thinks. If only people would do just like I did, they would be successful.

Farming / Agriculture / Food / Restaurants

  • Two Biden Priorities, Climate and Inequality, Meet on Black-Owned Farms (New York Times). Black run farms account for 2% of the nation’s farms, down 12% from 1920. 
  • What is the future of Boston’s Black-owned restaurants? (Boston Globe) –
  • Restaurants are a major sector of Black-owned businesses lost to the pandemic.
  • This TikToker is on a mission to make Black food history more accessible (Today)

Transportation / Logistics / Trade

  • A Black woman will be the world’s top trade official for the first time (CNN)

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Black-Owned Plant Shop Sees Business Bloom During Pandemic (WTTW) – Chicago
  • Black Women Entrepreneurs, Not Banks, Helped Me Keep My Company Going During the Pandemic (Entrepreneur)
  • Marcus Samuelsson Speaks out on Being a Black Cook in America (5280)
  • Black Entrepreneurship: The Opportunity Gap Explained (Forbes)

People / Motivation / Leadership / Success Stories / Ideas

  • Black leaders offer several key steps to help close the racial wealth gap (CNBC)
  • Good Morning America asked influential Black Americans to nominate Black people making history in 2021. (ABC News)
  • Meet Marques Brownlee – YouTuber & Tech Geek. (BlackEconomics.co.uk) – Another profile of Brownlee.  You have to watch him in action on You Tube.
  • Black Celebrities Who Uplift Communities and Give Back in a Big Way (People)
  • Calendar Honors Black Leaders (Greenville)
  • Black History Month: African Heritage Entrepreneurs in Gilded Age Newport – Andrew J. Tabb (WUN) — Tabb’s accomplishments represent the essence of African heritage “Creative Survival” during a time of enslavement
  • Legendary hotel magnate Herman Roberts provided first class entertainment, housing (Chicago Crusader)

Good News

All Other

Caribbean / Africa / International

  • There are no Black execs at the top of Britain’s biggest companies (CNN)
  • The Unfortunate Truths Of Fundraising While Black in Britain (Forbes)
  • Coca-Cola’s South African bottler to increase black ownership stake to 20% (Reuters) – Employees will increase ownership under Black Empowerment scheme to reverse decades of exclusion under apartheid.

Travel / History

  • Black Women Who Have Run for President (History). Eleven Black women have run for president since 1968.
  • 100 years after the Tulsa Massacre, entrepreneurs revive spirit of ‘Black Wall Street’ (USA Today)
  • The Plan to Build a Capital for Black Capitalism (New Yorker)
  • The National Guardian Life Insurance Company Black History Project, Part 1: The Founders (Madison365) – Madison, Wisconsin
  • William Grose, pioneer, worked the Underground Railroad and founded Seattle’s Black Central District (KUOW)
  • Black-owned businesses boosted by tourism authority (Royal Gazette)
  • Lawmakers hear plan to reconnect historic Black neighborhood (AP News)
  • Great Migration transformed Toledo as blacks from South sought better life (Toledo Blade)

Classic / Old stories but good stories

  • Who’s Donald Sterling? (Vox) — Or how to get rich by descriminating in Real Estate

Conservative / Alternative

Opinion

  • The Country Needs To Do Much More About Unemployment (Forbes)
  • As a Black woman, Tubman on the $20 does nothing for me (Milford Daily News)
  • My history is Black history (Allied News) — too often is the poverty that has plagued Black people for centuries in America and Africa depicted, says Carolina.

Other / Interesting

Stories For Jan. 25th to 31st 2021

Stories Jan 25th to 31st 2021

Top Stories

  • The mirage of the Black middle class (Vox)
  • Inside the Marijuana Growing Facility of a Historically Black University (WGNO). Southern University is the first HBCU to launch a line of THC products as part of its agriculture program.
  • Did Clubhouse achieve their $1BN valuation by exploiting or empowering Black people? (Irish Tech News)
  • Raising minimum wage may prevent infant deaths — and every dollar counts, study finds (News Observer). Each additional dollar of the minimum wage reduces infant deaths by up to 1.8% each year in major urban U.S. cities.
  • Medical school applications surge as COVID-19 inspires Black and Latino students to become doctors (USA Today)

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • BADG’s Obsidian is a futuristic concept house powered by Black creativity (Business of Home) – Obsidian showcase ranges from interior designers to architects to artists
  • U-M Study Reveals Lack Of Coronavirus Aid For Black-Owned Businesses (Patch) –
  • Black business owners are about 30 times less likely to receive government assistance than white business owners
  • Black-owned businesses hope this round of PPP won’t fail them (CNBC)

Jobs / Workers / Unemployment / Gig Economy / Minimum Wage

  • Biden’s plan for a $15 minimum wage could mean one in 5 Americans earns more. Nearly a third of Black workers would get a raise, research suggests. (Business Insider)
  • Former Obama Official Tapped to Lead OneTen Black Jobs Coalition (Bloomberg)
  • GOP Sen. Rand Paul says that Biden’s push for a $15 minimum wage reflects a ‘hate’ for Black teenagers (Business Insider) – The libertarian belief in “free” markets is pretty fanatical and can cloud your judgement.
  • Amazon Union Drive Takes Hold in Bessemer Alabama (NY Times)

Inequality / Systemic Racism / Economic Justice

  • Preservation can promote equity for Black communities, report says (Philadelphia Inquirer) — Preservation can be a tool to stabilize neighborhoods and to foster equitable growth in Black communities.
  • Black business owners are facing ruin. They need help now (CNN) — Economy stands to gain $8 trillion by 2050 by eliminating racial inequalities
  • How can businesses eliminate workplace ethnicity inequity in 2021? (HR Director) — Targeted action to address mid-level BAME advancement can release a significant burst of talent and energy.
  • New York City expands street vendor program. (NY Times)

Black Business

Black Business General / Interesting Businesses Stories

  • Richard Patterson former Tesla designer of the Model S makes history as the first black manufacturer and designer of a Supercar (Cision/PRWeb)
  • Master P teaming with ex-Tesla engineer to develop first Black-owned supercar (The Grio)
  • Black Owned Cosmetic Company talks about skin color and More. (WAOK)
  • Black Girl Ventures to host inaugural Birmingham pitch competition (Birmingham Business Journal)
  • Black Americans helped make barbecue a cultural phenomenon. Charcoal company Kingsford is helping to preserve that legacy (CNN) –New fellowship program to honor the contributions Black Americans have made to the legacy of American barbecue
  • Sephora’s Planning To Promote Black Owned Brands (Forbes) — Black people are known to contribute revenue at a rate greater than their proportion to their population in the beauty industry
  • Houston’s first Black-owned coffee shop downtown just opened (Chron)
  • Houston leads the way as a top metro for minority-owned startups (ABC News 13)
  • The 2021 Black Lens Symposium (Online) (Indy) —
  • Conversations around black duality, black centricity, black history, black business, black reciprocity, and the future of being black in America.
  • Photos: Black Business Expo celebrates local black entrepreneurs and businesses (York Daily Record) – Pennsylvania. Cute.

Big Business / Corporate

  • Apple introduced a limited-edition Black Unity Apple Watch collection for Black History Month (Business Insider)
  • Why Did Companies Take So Long to Divest from White Supremacy? (Harvard Business Review) – American corporations responded to protests with statements and commitments to reduce racial inequality.
  • AT&T : Exceeds $3 Billion Spending for Black-Owned Businesses (Market Screener)
  • Amazon Seeks to Block Resolution Calling for Racial Audit (Bloomberg) – Amazon is asking U.S. regulators to block a shareholder that asked the company to conduct an audit on racism and diversity.
  • Target apologizes after 3 Black teenagers were wrongfully detained at a California Store (Business Insider)
  • California Capitol Watch: New Law Requires Corporate Board Diversity (Davis Vanguard) – All corporate boards must have a member of an under-represented group by the end 2021.

Discrimination

  • Black Comedy Central employees felt tokenized and used as a ‘taste tester for racism’ by the network, while it showcased diversity on TV (Business Insider)

Reparations / Affirmative Action / Diversity / Inclusion

  • Exploring reparations for Black Americans is ‘necessary,’ says NAACP president (CNBC)
  • Diverse talent leaving accounting jobs due to ‘lack of inclusion’ (Accounting Today)
  • WRIGHT: Diversity statements need to be tossed away (Daily Targum) — Blanket statements that personal relations teams create seem to be an attempt to appease.
  • Bill would allocate 23% of state contracts to woman- and minority-owned businesses (Virginia Business) — Only 13% of Va. contracts went to certified minority- and woman-owned firms, study says
  • Diversity and Inclusion in Supply Chain: How to do More Than Lip Service [Infographic] (GritDaily)
  • W. Arthur Lewis: Intellectual author of CARICOM’s blueprint for reparatory justice (Gleaner)

Economics

Black Economics

Straight up Econ / The Economy

Industry Stories

Alcohol / Marijuana / CBD / Gambling

  • Inside the Marijuana Growing Facility of a Historically Black University (WGNO). Southern University is the first HBCU to launch a line of THC products as part of its agriculture program.
  • As Sports Gambling Debate Ramps Up, Casino Commits to Minority Business Partner (Maryland Matters).
  • Can the cannabis industry be an agent of social justice? Or is it just another big
  • business? (Washington Post)
  • Kalamazoo’s new cannabis cultivation site growing local economy, diversity and sustainability (MLive.Com)
  • Detroit residents hope pot business opportunities don’t elude them (Michigan Advance)
  • This is Michigan’s first Black-owned brewery (Midland Daily News)

Beauty / Fashion / Retail / Amazon

  • Can Made in Africa transform the continent’s leather industry? (Vogue) — To grow
  • Africa’s leather industry, tanners and manufacturers cannot focus solely on getting Western designers and luxury houses to use their leather
  • Activists Pushed Retailers to Back Black-Owned Brands. Here’s How Nordstrom Responded. (Business of Fashion)
  • Six months ago, BIPOC jewelry professionals put out a call for greater equality and diversity in the trade. How much has changed since then? (Diamonds.Net) – Lots of information about the Jewelry Industry.
  • ‘A new wave’: Kamala Harris elevates black designers on world stage (Guardian)

Technology / Apps / Innovation

  • Did Clubhouse achieve their $1BN valuation by exploiting or empowering Black people? (Irish Tech News)
  • Interview: Facebook group lends a helping hand to struggling Black-owned businesses during pandemic (Fox 40)
  • These Food Delivery Apps Are Built for the Community by the Community (Bon Appetit)
  • Apple Celebrates Black History Month With Maps + More (Cool Hunuting)

Finance / Investing / Venture Capital

  • Black and Hispanic Americans on the U.S. financial system: “The odds were always against me,” new Credit Sesame survey finds (PR Newswire)
  • How one mother is building generational wealth for her young son (NBC News)

Real Estate / Finance / Development / Housing / Segregation

  • This time, let’s actually fix the affordable housing market (NY Daily News)
  • HUD nominee Marcia Fudge to push for rental assistance, affordable housing amid coronavirus crisis (Washington Post)

Politics / Government / State and Local

  • Biden administration revives effort to put Harriet Tubman on $20 bill (Washington Post)
  • Pittsburgh leaders encouraged by Biden memo to correct Black housing inequities (Trib Live)
  • “A Step Forward”: Black Lives Matter Protests Forced Biden to Push Racial Equity, But More Is Needed (Democracy Now)
  • Biden signs executive orders on stimulus checks, food stamps and minimum wage(CBS News)

Education / Healthcare

  • Porsche launches new scholarship and guest lecture series at Morehouse College (PR Newswire). This scholarship will expose HBCU students to the auto industry.
  • Raising minimum wage may prevent infant deaths, study finds (News Observer). Each additional dollar of the minimum wage reduces infant deaths by up to 1.8% each year in major urban U.S. cities.
  • Medical school applications surge as COVID-19 inspires Black and Latino students to become doctors (USA Today)
  • Walgreens’ vaccine rollout will be led by the only Black woman to run a Fortune 500 company (Washington Post)

Restaurants / Food / Food Production / Farming / Agriculture

  • Biden’s Agriculture deputy choice, Jewel H. Bronaugh, may reflect minority critics (The Daily News Online) – In spite of opinionated headline, a good discussion of Ms. Bronaugh’s background and Tom Vilsack, head of the department of agriculture. Vilscak, also worked under Obama, and fired Shirley Sherod based on an edited speech she made.
  • Mashama Bailey, Chef at Grey in Savannah has a cook book (LA Times)

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Celebrating black entrepreneurs: James Smith and J&E Grocery, 1964-2001 (Rochester First)
  • Forbes: For The Culture To Explore State Of Black Entrepreneurship In Year-Long Interactive Project (Forbes)
  • This Year Has Been Devastating For Mental Health Professionals — Especially If They’re Black (Refinery29)
  • Walgreens’ new CEO Roz Brewer on bias in the C-suite: ‘When you’re a Black woman, you get mistaken a lot’ (CNBC)

People / Motivation / Leadership / Success Stories / Ideas

  • ‘Black Women Built My Business’: Pantora Bridal Designer Andrea Pitter Brings Her Brand of Black Love to The Knot’s Spring Cover (The Root) – Famed retailer to carry Pitter’s designs
  • Detroit Is THIS Podcast: Roslyn Karamoko CEO of Détroit Is The New Black on Building and Growing a Retail Business in Detroit (Detroit is It)
  • Black Sands Entertainment’s Manuel Godoy Reflects on Running a Black-Owned Comic Publisher (CBR)
  • Meet The Black Female Founder Making Superfood Wellness Affordable (Forbes)
  • Doctors, Patients Reflect On Dr. Justina Ford Day, Honoring Denver’s First Licensed Black Female Doctor (CBS Denver)

In Passing

  • Bettyjean C. Murphy, City’s first woman, African-American developer, ‘never backed down, never gave up’ (Baltimore Afro-American)

All Other

Travel / History

  • Emmett Till’s brutal murder changed America. Now his home is a historic landmark. (Washington Post)
  • 7 destinations to visit in the US to learn about Black history (Business Insider)
  • How the Tulsa Race Massacre Was Covered Up (History)

Conservative / Alternative

  • A $15 Federal Minimum Wage: An Anchor on Struggling Businesses (Heritage.Org)
  • Is ‘Stakeholder Capitalism’ Newspeak for Economic Fascism? (FEE.Org) – Same stuff: Individuals collectively act in societies best interest and markets are the best way to transmit information for decision making in society.
  • Government’s ‘help’ is not great for minorities (Pittsburgh Tribune)

Opinion

  • How Biden Can include social science research in Executive branch policy making (Washington Monthly) – Features Dr. Alondra Nelson.  The case for a presidential social science council.
  • The facts might lead to uncomfortable conclusions about race in the United States.

Stories Jan 18th to 24th 2021

Top Stories

  • Biden claims his $1.9 trillion Covid relief plan will cut child poverty in half — here’s how (CNBC). This plan is expected to have the greatest impact on Black and Hispanic families.
  • Jay-Z raises $10 million for a fund designed to invest in minority-owned cannabis businesses following the industry’s largest-ever SPAC (Business Insider)
  • The case for buying climate tech from BIPOC and women-owned suppliers (Green Biz). Being committed to climate justice includes buying from Black and women-owned suppliers.
  • How one mother is building generational wealth for her young son (CNBC
  • GOP Sen. Rand Paul says that Biden’s push for a $15 minimum wage reflects a ‘hate’ for Black teenagers (Business Insider)
  • The Trump economy left Black Americans behind. Here’s how they want Biden to narrow the gaps. (Washington Post)

Stories

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • Biden claims his $1.9 trillion Covid relief plan will cut child poverty in half — here’s how (CNBC). This plan is expected to have the greatest impact on Black and Hispanic families.
  • Lawsuit Over Minority-Owned Colorado Business Relief Prompts Expanded COVID Bill (Patch)
  • Q&A: U-M researcher says Black businesses shorted in first PPP loans (Bridge)
  • Raleigh’s new black-owned Black Friday Market thriving downtown despite COVID-19 downturn (CBS17)
  • The inequities of PPP: Megachurches receive money ahead of small businesses (ABC7)

Jobs / Workers / Unemployment / Gig Economy

  • How the American Unemployment System Failed (New York Times)
  • The Future Is Female And So Are The Job Losses: Women Impacted As 900,000 File For Unemployment (Forbes)
  • Black, Asian and minority-ethnic UK workers hit worst by Covid job cuts (Guardian)
  • CEOs are driving an initiative to hire, train 1M Black workers over next 10 years (Fox Business)
  • Joe Biden pledges to address pay, systemic racism: ‘Black and Latino unemployment gap remains too large’ (USA Today)
  • The case for buying climate tech from BIPOC and women-owned suppliers (Green Biz) — The climate-friendly transition could provide an opportunity to create a more just workforce — one that includes more women and underrepresented people of color at all levels of leadership and ownership.
  • Apple commits $100 million to racial equity programs while disclosing its own diversity hiring record (Dallas News)

Inequality / Systemic Racism / Economic Justice

  • The Trump economy left Black Americans behind. Here’s how they want Biden to narrow the gaps. (Washington Post)
  • Maryland’s House speaker crafts ambitious ‘Black Agenda’ to close equity gaps | COMMENTARY (Baltimore Sun) – Black Agenda is racial equity plan aimed at closing the race gap in areas such as homeownership, health and wealth.
  • Women and Minority Founders Still Vastly Underfunded, New Report Finds (Entrepreneur)
  • We are learning more about diversity at tech companies, but it isn’t good news (Market Watch) — Tech companies are struggling to increase percentage of underrepresented races while entangled in high-profile controversies related to how minority employees are treated

Black Business

Black Business General / Interesting Businesses Stories

  • Black entrepreneurs in Tulsa’s Greenwood district feel threatened (Washington Post)
  • More attention placed on minority-owned startups (News-Press Now)
  • In a survey, minority business owners say local chambers ‘too white’ (VT Digger) – State’s chambers of commerce aren’t doing enough to make minority business owners feel welcome.
  • Mentorship program for Black women in business starts during pandemic (CBC)
  • Family owned and operated business in Norfolk working to help increase Black wealth in the community (Wavy)
  • KC’s Black-owned business are much more than restaurants (Kansas City Business Journal)
  • Ryerson Student Creates Black-owned business directory, app to Launch Next Month (Eye Opener)
  • D.C. Black-owned businesses prepare for inauguration week amid threats of violence (The Grio)
  • Funeral homes forced to adapt during COVID-19 pandemic (WCJB)

Black Business Specific

  • How a ‘love affair with Black literature’ kept Lansdale’s Black Reserve Bookstore alive (WHYY)
  • How a Black-owned glassware company found success during the pandemic (CBS News)

Big Business / Corporate

  • Brands Want to Tell Stories of Inclusion. Marketing Leaders Should Listen Instead. (Entrepreneur)
  • Many Brands Stay Committed To Amplifying Black-Owned Businesses (Digital Media Solutions)
  • Google CEO to meet with Black college leaders following racism allegations (Philly Tribune)

Discrimination

  • Experts: Racial Income Gap Still Wide (Memphis Flyer)
  • Race in South Africa: ‘We haven’t learnt we are human beings first’ (BBC News) — Legal discrimination along racial lines in South Africa ended with the demise of apartheid but racial categorisation is still being used by the government for monitoring economic changes
  • In ‘battle for the soul of Salem,’ a Black business owner is targeted (Washington Post)
  • New York’s smallest businesses will no longer be supervised by police (Quartz)

Reparations / Affirmative Action / Diversity / Inclusion

  • CEOs are driving an initiative to hire, train 1M Black workers over next 10 years (Fox Business
  • Black Lives Matter: A call to action for HR (HR Executive) — MBA students at historically Black colleges and universities, want business leaders to hear their vision for an all-inclusive workplace of the future.
  • Will Vice President Kamala Harris change how corporate America sees and treats Black women? (USA Today)
  • 3 women of colour on how to boost diversity from the outside in (World Economic Forum) – Kind of behind the US.

Economics

Black Economics

  • The Federal Reserve starts to consider racial impact of policies (Morning Brew)
  • Biden Day One: Economic Recovery (UDaily) — Biden-Harris administration’s top four priorities: COVID-19, economic recovery, racial equity and climate change.
  • Obtaining grant funding a challenge for many Black-owned businesses (Times Weekly)
  • Black Girl Finance: Raiding her son’s account inspired Selina Flavius to help minorities manage their money (I news)
  • Maryland lawmaker pushes for a state bank to help bridge wealth divide (Baltimore Business Journal)
  • Digital Black-owned bank aims to tackle economic injustice (ABC News)
  • The new plantation: Black people in Asheville’s economy today (Citizen Times) — Out of $118 million in contracts in 2018, only 0.5% went to African Americans.

Industry Stories

Sports / Media / Entertainment

  • Former Oakland A, Dave Stewart, makes $115M bid for Oakland’s Coliseum site share (NBC Sports)
  • Sean “Diddy” Combs Invests In Digital Platform That Celebrates Black-Owned Beauty Brands (newsone)
  • Why so few black skiers and ballet dancers? (AAAS) – New book: The color of culture

Alcohol / Marijuana / CBD / Gambling

  • Jay-Z raises $10 million for a fund designed to invest in minority-owned cannabis businesses following the industry’s largest-ever SPAC (Business Insider)
  • New Michigan marijuana taxes, stock market proposed to boost minority business investment (mLive)
  • Jay-Z starting $10 million fund for minority-owned marijuana businesses (NY Daily News)
  • Pot in Seattle is too white: Social Equity in Cannabis Task Force shaping plan to create new opportunities in state’s retail marijuana industry (Capitol Hill Seattle Blog) – If you want to start a business, Marijuana is it.

Beauty / Fashion / Retail

  • The Creator of Kamala Harris’ Inauguration Night Dress on Supporting Black Designers (Time)

Technology / Apps / Innovation

  • Innovative All-Woman Tech Startup Creating First of Its Kind Interactive Mobile App On Black History (The Register Citizen). This app is designed to shine a light on America’s rich Black history using Augmented Reality.
  • The case for buying climate tech from BIPOC and women-owned suppliers (Green Biz). Being committed to climate justice includes buying from Black and women-owned suppliers.
  • This Nigerian-American Launches “MelaninPeople” A New Social Media App for Black and Brown People of Color Worldwide (EIN)

Finance / Investing / Venture Capital

  • Repairing Blacks’ pathway to wealth (NY Daily News)
  • More than 50 years after the Civil Rights movement, Black Americans still face discrimination in banking. But pro sports teams can help change that. (Business Insider)
  • How one mother is building generational wealth for her young son (CNBC

Real Estate / Finance / Development / Housing / Segregation

  • For Black homeowners, a common conundrum with appraisals (Washington Post)
  • Survey shows rent debt to be disproportionately distributed among minorities (Kirkland Reporter)
  • A D.C. developer received a presidential pardon. Now, a neglected neighborhood hopes he will show mercy to a cherished community hub. (Washington Post)
  • ‘Controlled Destruction’: How Urban Renewal Changed Nyack Permanently (Nyack News & Views) – Shaped by a hidden legacy of racism.

Cities / Urban Planning / Local Government

  • Cantrell promises better minority contracting in ‘most Afrocentric city in US’. (4WWL). New Orleans Mayor is revamping the Office of Supplier Diversity, making sure diverse businesses receive at least 35 percent of city contracts

Politics / Government / State and Local

  • Black-owned businesses to get aid under Biden Administration (Erie News Now)
  • What Minority-Owned Small Businesses Can Expect From A Biden-Harris Administration (Forbes)
  • Some Black activists skeptical about mayor’s racial alliance despite recent directive (Lansing State Journal)
  • Black politicians launch training program called Black Bench, for next generation (Chicago Sun-Times)

Education / Healthcare

  • Study: Life expectancy in African Americans decreased due to pandemic (WSOCTV)
  • How Black barbers have become mental health advocates for African American men (CNN). The Confess Project Barber Coalition is a non-profit that allows Black men to deal with racial issues and become better versions of themselves.
  • How Atlanta’s historically Black colleges and universities landed millions from Apple, Southern Co. (Atlanta Business Chronicle)
  • Understanding the Role of Race in Business (Pittwire) — While business schools traditionally have addressed race in the context of interpersonal relations, Harper’s course takes a much broader perspective
  • Walker’s Legacy, Howard University Launch Scholarship Fund For Women Entrepreneurs (Newsone)

Farming / Agriculture / Food / Restaurants

People and Careers

People / Motivation / Leadership / Success Stories / Ideas

  • Charlene Izere: Empowering the Lives of Black Women in Entrepreneurship and Transforming Their Lives for the Better (London Daily Post) – Charlene Izere owns three successful businesses that help to equip and support black women, all of which have propelled her to the forefront of the entrepreneurial world and the black community.
  • Meet the economist charged with keeping Biden’s promises to women and people of color (Washington Post)
  • Even in retirement, Ron Leeper is focused on making Charlotte better. (QCityMetro)

All Other

Travel / History

  • The Maryland Lynching Memorial Project tackles the past, present (Baltimore Sun)

Conservative / Alternative

  • GOP Sen. Rand Paul says that Biden’s push for a $15 minimum wage reflects a ‘hate’ for Black teenagers (Business Insider)

Opinion

  • Opinion: We can advance real social equality in Washington (Puget Sound Business Journal) — Research from McKinsey & Co. demonstrates that diversity in the workplace creates more resilient and profitable organizations
  • This MLK Day, Congress should remember Dr. King’s economic agenda (Philadelphia Inquirer)

Stories for Jan 11th to 17th

Top Stories

  • Good News For Minority-Owned Businesses: Community Banks Get First Crack At The New Round Of PPP Loans (Forbes)
  • New PPP Regulations to Prioritize Minority-Owned Business Applauded By Black Business Owners (Food & Beverage) — A third round of the Paycheck Protection Program (PPP) opened on Jan. 11, prioritizing minority-owned businesses and community lenders.
  • TikTok Launches ‘Black Creatives’ Program to Foster New Talent (TikTok Newsroom)
  • The Work Diary of an Executive Who Must Find Just the Right Words (New York Times) — One of the youngest Black C-suite executives on Wall Street, Ms. Patrick, 31, has rocketed through her field since graduating nine years ago from Princeton as a classics major.
  • Bitcoin’s roller-coaster ride shows why people should be cautious before investing in cryptocurrency (CNBC). However, buying in the long run can lead to financial freedom for African Americans. Bitcoin is a good savings ‘Plan B’ for Black investors, says Isaiah Jackson (CNBC). Same story as above, slightly different perspective.
  • The Basic Facts About Children in Poverty (Center for American Progress) – Long with all the details.  A great resource on child poverty.

All Stories

Protest / Social Justice

  • Fast food workers go on strike in honor of Martin Luther King Jr. (CNN)

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • Good News For Minority-Owned Businesses: Community Banks Get First Crack At The New Round Of PPP Loans (Forbes)
  • NC leads nearby states in vaccine distribution to African-Americans (WWAY 3)
  • BIPOC-owned businesses get an early shot at third round of PPP loans (Fox 9)
  • What Will 2nd Round Of PPP Loans Mean For Charlotte’s Black Businesses? (WFAE) — Businesses can begin applying for another round of Paycheck Protection Program loans this week. Only a small fraction of Black-owned businesses has received loans as part of the CARES Act.
  • New PPP Regulations to Prioritize Minority-Owned Business Applauded By Black Business Owners (Food & Beverage) — A third round of the Paycheck Protection Program (PPP) opened on Jan. 11, prioritizing minority-owned businesses and community lenders.
  • More Businesses Will be Able to Apply for PPP Loans Next Week (The New York Times) — After giving small lenders a head start, the Paycheck Protection Program will open for all applicants on Tuesday, the Treasury Department said on Wednesday.
  • PPP Loan Program Reopens with Emphasis on Minority-Owned Businesses (NBC Miami) — The third round of the loan program is prioritizing applications from small community financial institutions on the first days of reopening.
  • COVID-19 job losses will worsen L.A. homelessness by 2023, new report says (LA Times) – There are and estimate 129,000 homeless people in California and 66,000 in LA County. The report by the Economic Roundtable is here. – Report has lots of statistics but focuses on low wages causing homelessness.

Jobs / Workers / Unemployment / Gig Economy

  • Once again, job losses fall unequally across the US economy (Boston.Com)
  • When Identities Collide: Being A Black Woman Working Alongside The Police (Madame Noire)
  • Netflix has doubled its Black workforce since 2017, but says it still needs to hire more Latinos (Philadelphia Tribune) — The company’s new demographic data shows its Black US employee population grew from 3.8% of its workforce in 2017 to 8% in 2020.

Inequality / Systemic Racism / Economic Justice

  • The Basic Facts About Children in Poverty (Center for American Progress) – Long with all the details.  A great resource on child poverty.
  • How social networks impact economic mobility in Racine, WI, San Francisco, CA, and Washington, DC (Brookings)

Black Business

Black Business General / Interesting Businesses Stories

  • Black-owned businesses on San Antonio’s East Side to host socially distanced MLK Day block party (SA Current) — The MLK Day march may be virtual for 2021, but several local businesses are offering a socially distanced in-person celebration on the city’s East side, mySA reports.
  • Looking ahead for local Black business owners this Martin Luther King Day (Standard Examiner) — As Black business owners continue to look ahead this Martin Luther King Jr. Day, there are some key considerations that can be made to plan for a future where certainty is categorically uncertain.
  • Innovative Black Business Incubator Brings New Opportunities to West Louisville (Spectrum News 1) — An exciting, innovative Black business incubator is bringing new opportunities to West Louisville.
  • Manasota Black Chamber, USF partner to highlight opportunities for small businesses (Bradenton) — The Manasota Black Chamber of Commerce and the University of South Florida are partnering on an online seminar for small business owners to learn how to register as a vendor to do business with USF.
  • PenFed Foundation wants to jump-start Black veteran owned businesses (Connecting Vets) — A challenge supporting Black veteran, active duty, Guard, Reserve, and military spouse entrepreneurs has been launched by the PenFed Foundation.
  • Local online website designed to help Black-owned business expands nationwide (ABC 7) — Spicy Green Book started off as a website designed to help local Black-owned businesses, now it’s a nation-wide guide and there’s even an app.
  • 61 Must-Try Black-Owned Restaurants in the U.S. (Woman’s Day) — Support the Black community by patronizing any one (or all!) of these Black-owned restaurants.
  • 36 Years of Vegan Soul Food: How Simply Wholesome Built A Black Utopia of Wellness in L.A. (LA Taco) — Everything about Simply Wholesome feels like a small Black utopia of wellness.
  • Here’s how large companies are helping minority-owned businesses in Charlotte (WCNC Charlotte) — Minority-owned businesses in Charlotte now have a new chance to grow their business thanks to some of the city’s biggest names.

Black Business Specific

  • Local woman launches magazine to support Black-owned businesses (Kansas City)
  • Young pastry chef develops successful online bakery business (Khon2) — A young pastry chef in Brooklyn, New York is mixing her love of baking and a keen sense of business to create a unique virtual business.
  • Local entrepreneur launches magazine to support Black-owned businesses (The Kansas City Star)
  • Ashley Walker open Smoothie business in former Ice Cream shop in Riviera Beach, FL (WPTV)

Big Business / Corporate

  • Starbucks pledges $100 million to help small businesses and Black communities (CNBC)
  • Fiserv offers grants to Metro Atlanta’s minority-owned small businesses in Metro Atlanta (MDJ Online) — Back2Business program is offered by Fiserv Inc., a Brookfield, Wisconsin-based payments and financial services technology company.
  • Apple invests $10 million in venture capital firm focused on diverse founders (CNBC)
  • TikTok Launches ‘Black Creatives’ Program to Foster New Talent (TikTok Newsroom)
  • Apple to Open Developer Academy, Provide Funding for Minority Entrepreneurs (The Wall Street Journal)
  • Black Girl Ventures Reveals Plans for Nike’s $500,000 Investment (WWD) – Shelly Bell, founder and chief executive officer of Black Girl Ventures, has set in motion plans to allocate the $500,000 investment from Nike Inc.
  • Sephora’s plan to combat racial bias: Fewer security guards, more Black-owned brands, and new protocols (Philadelphia Inquirer) – Sephora outlines its plan for more inclusivity.
  • Comcast program to help boost Black-owned Memphis businesses (Memphis Business Journal) – Comcast helping Black Businesses during a time when they need it most.
  • Fluent Announces Recipients of Inaugural Business Empowerment Program to Support Minority and Women-Owned Businesses (Yahoo Finance) – Fluent announced the recipients of its first Business Empowerment Program.

Reparations / Affirmative Action / Diversity / Inclusion

  • In First Act of New Congress, Rep. Sheila Jackson Lee Introduces Reparations Bill (Seattle Medium)
  • Organizers Of D.C. March For Reparations Say They Won’t ‘Cower In Fear Of Terrorist Threats’ (DCist)
  • Netflix has doubled its Black workforce since 2017, but says it still needs to hire more Latinos (CNN)
  • HP Unveils Bold Goals to Advance Racial Equality and Social Justice (3BL Alerts) – HP strategy involves identifying and executing on the biggest opportunities we have as a company to drive societal change, first in the U.S., then globally.
  • Expert: Targeted relief needed for minority business owners (WCBS 880) — Black and brown business owners are disproportionately affected by the coronavirus pandemic in ways that makes general government relief harder to obtain and be effective.
  • What 10 Black and Latinx entrepreneurs say they need to succeed in Philadelphia (Technically) — More easily accessible resources, mentorship, earlier institutional support, better representation among decision makers and support for capacity building all emerged as calls from these local founders of color.
  • Richmond Office of Minority Business Development Offers Opportunity To Participate In Diverse Supplier Mentoring Program (Patch)
  • Bowling Green Program Aims to Level Playing Field for Minority Owned Businesses (WKU)
  • James Beard Foundation Opens Food and Beverage Fund for Black and Indigenous Americans (FSR Magazine)

Economics

Black Economics

  • Can a ‘Guaranteed Income’ for Black Entrepreneurs Narrow the Wealth Gap? (Bloomberg) — Monthly cash payments, no strings attached.
  • Black owned businesses essential to continued economic growth in Massachusetts (WWLP) — State Senator Eric Lesser held a livestream discussion with Black Economic Council of Massachusetts (BECMA) executive director Segun.
  • Black Philanthropy Initiative Requests Video Proposals for Impact Grants Program (Yes Weekly) — The Black Philanthropy Initiative (BPI) is now accepting applications for its Impact Grants program. Organizations may apply for grants of up to $1000.
  • The US economic recovery is skipping Black and Hispanic women (Quartz) — The American economy is slowly recovering, but Black and Hispanic women are being left behind.

Industry Stories

Sports / Media / Entertainment / Arts

  • D.C. United Names Danita Johnson President of Business Operations, First-Ever Black President in Major League Soccer (Afro Tech)
  • NBA’s Milwaukee Bucks Announces Joint Initiative to Empower Black Entrepreneurs Nationwide (Afro Tech)
  • Why do some NFL teams never hire people of color as GMs and coaches and others do? (USA Today)
  • Minnesota’s pro sports teams pledged $40 million to social justice causes. Where is it going? (Star Tribune) — George Floyd’s death spurred an aggressive commitment of financial support and athlete involvement. 
  • FC Dallas launch program to aid local Black and minority-owned businesses (MLS Soccer) — The Hometown Partner Program will provide five certified Black and minority-owned businesses a $100,000 FC Dallas/North Texas SC customized sponsorship package.
  • ‘Invisible Men’ chronicles pioneering Black artists of the early comic book industry (Detroit Free Press)

Alcohol / Marijuana / CBD / Gambling

  • Illinois sitting on $62 million in cannabis revenue meant to foster businesses and help neighborhoods hurt by poverty and violence (Chicago Tribune)
  • Nano Hydrate, Inc. Black-Owned CBD Manufacturer, Launches Product Development Services Using Innovative Technology (PR Newswire)
  • Black-Owned Pot Businesses Remain Rare Despite Diversity Efforts (Pewtrusts) — Left-leaning state and city leaders nationwide have embraced social equity marijuana licensing programs, which aim to make amends for decades of aggressive policing of low-income, minority people and help them thrive in the multibillion-dollar legal pot industry.

Beauty / Fashion / Retail

  • ‘I just like women to feel beautiful’. Woman opens Black owned nail salon in Canton, Ohio. (Alliance Review)

Technology / Apps / Innovation

  • LA Times Today: Entrepreneurs behind ‘Blacktag’ – a streaming service for Black creators (Los Angeles Times)
  • Local online website designed to help Black-owned business expands nationwide (ABC 7)
  • She uses tech to make matches (Chicago Business) — Shaniqua Davis of Noirefy, which maintains a database of diverse candidates looking for corporate jobs, is busier than ever.
  • How Black users are saving Clubhouse from becoming a drab hangout for tech bros (CNBC)
  • The app MelaninPeople connects social, business and professional people of color from all over the world. The MelaninPeople service offers a social media app, e-magazine, podcasts and business listings.

Finance / Investing / Venture Capital

  • Why life insurance plays a key role in closing the racial wealth gap, according to a financial advisor (Business Insider) – Not so sure about this one.
  • Bitcoin’s roller-coaster ride shows why people should be cautious before investing in cryptocurrency (CNBC). However buying in the long run can lead to financial freedom for African Americans.
  • Bitcoin is a good savings ‘Plan B’ for Black investors, says Isaiah Jackson (CNBC). Same story as above, slightly different perspective.
  • Eli Lilly chips $30M into VC fund aimed at minority-owned healthcare companies (Fierce Biotech) — Companies are tackling the issue on multiple fronts, including diversifying their workforce and making sure they’re testing their drugs in diverse populations.
  • Duke Energy invests in minority business through S.C. bank (GSA Business) –Duke Energy deposited $5 million into Black-owned Optus Bank to amplify the company’s support for minority-owned business and low-income communities at the end of 2020.
  • Thirteen Lune, a Marketplace That Promotes Black- and Brown-Owned Beauty Brands, Seeks Seed Funding (Business of Fashion) — Thirteen Lune is calling on venture capital investors that have been vocal about a commitment to meaningful change and representation of diverse founders

Real Estate / Finance / Development / Housing / Segregation

  • Home Value Disparities Between Races Are Shrinking, but Remain Very Wide (Zillow). Original story from Dec. 19th.

Cities / Urban Planning / Local Government

  • Daytona Beach’s Midtown is profiled (Daytona Beach News-Journal)
  • Madison to deliver $250,000 for Center for Black Excellence and Culture (Wisconsin State Journal) — Center is envisioned as a place to develop Black-owned businesses, celebrate Black culture and history and become a landmark at the prominent city gateway at the Beltline and South Park Street.
  • New Downtown Venture a Success (Spectrum News) — “Black Friday Market” is a store for multiple small businesses that do not have a physical store front.

Politics / Government / State and Local

Education / Healthcare

  • Fed Presidents Reiterate Calls for Addressing Race in Education (Bloomberg)

Farming / Agriculture / Food

  • James Beard Foundation to Provide Grants to Black-Owned Food Businesses (Barron’s)
  • The Sausage-Making to Revive a Black-owned Sausage Factory in New Orleans (Next City)
  • List of Black Owned markets in New Orleans (Big Easy Magazine)

People and Careers

People / Motivation / Leadership / Success Stories / Ideas

  • The Work Diary of an Executive Who Must Find Just the Right Words (New York Times) — One of the youngest Black C-suite executives on Wall Street, Ms. Patrick, 31, has rocketed through her field since graduating nine years ago from Princeton as a classics major.
  • Black-owned business Kanarys gets a $3 million investment (Lake Highlands) — With this chunk of change, Mandy Price and Star Carter, two of the three founders, join 91 other Black women that have raised over $1 million in venture capital funding this past year.
  • Zerina akers is Helping Black-owned Businesses Take Center Stage For Years To Come (Coveteur) — With Black Owned Everything, the celebrity stylist is taking on the role of a founder.
  • North Bay artist-turned-designer co-launches luxury clothing line (North Bay Business Journal) — Black fashion designer Andrew Akufo would be the first to say he’s color blind at the suggestion he would create a clothing line for one race.
  • Central City Is Home To Lousiana’s Only Black-Owned Winery: Ole’ Orleans (Very local New Orleans) — As a working mother, a schoolteacher and an African-American woman, Kim Lewis isn’t the typical picture of a wine vintner. 
  • Rihanna Just Invested in This Vegan Black Woman-Owned Business (Live Kindly) — Rihanna just invested in Partake Foods, a Black- and woman-owned vegan cookie business.

All Other

Travel / History

  • The iconic American inventor is still a white male — that’s an obstacle to race and gender inclusion (Salon)

Opinion

  • Opinion: Reparations are needed for Black Americans and California is leading the way. Here’s how. (San Diego Tribune

Other

Black Business and Economic Stories for Jan.4th to 10th 2021

Top Stories

  • Rep. Jackson Lee proposes commission to explore reparations for Black Americans (The Grio)
  • The Boston Red Sox just hired Bianca Smith — the first Black woman to coach in professional baseball history (CNN)
  • Mortality rate for Black babies is cut dramatically when they’re delivered by Black doctors, researchers say (Washington Post) — You can expand this idea to just about everything: Dentists, Lawyers, Teachers and Businessmen in a positive way.
  • Who’s Employed in the Early Months of the COVID-19 Recession? An Analysis by Education, Race, Ethnicity, and Gender (Philadelphia Federal Reserve Bank) – Black male employment in the region dropped from 63% to 42% between May and October. Look at the charts, it’s insane.
  • Fed’s 2015 Records Show Yellen Misjudged Room for Job Gains (Bloomberg) – So millions more Black people could have had jobs?  The fed seems to be missing the huge under employment problem.  There is NO wage inflation.
  • An insider’s view on African American art collecting (Coastal Point)
  • Yes, Reebok Is Ready for Black Ownership — But It Will Need More Than That to Be Successful (Footwearnews)
  • Op-ed: I broke barriers as Black woman in tech without a degree. Hire more workers like me (CNBC)
  • 7 months after George Floyd’s death, corporations are still ‘diversity washing’ instead of making actual changes (Business Insider)
  • His parents weren’t homeowners, so this Minnesotan has dedicated his life to Black homeownership (Star Tribune) — Throughout his 25-year lending career, Trent Bowman has specialized in first-time home buyers and programs.

Stories

Protest / Social Justice

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • Here’s What The New Round Of PPP Loans Means For Black-Owned Businesses (Forbes)
  • 3 ways to access the $117 billion in stimulus funding for minority businesses and those with 10 or fewer employees (Business Insider)
  • Small-Business Loan Program Will Restart Monday, but Not for All (New York Times) — Black- and minority-owned small businesses will have a head start in tapping Paycheck Protection Program funds when the program reopens next week
  • Analysis of Paycheck Protection Program shows Black, brown businesses were at back of the line for COVID-19 relief (newsradio KYW) — Black and brown businesses were at the back of the line when it came to disbursement of COVID-19 relief funds, according to recent analysis of federal data.
  • Expert fear huge wave of evictions (New Jersey Monthlyn)

Jobs / Workers / Unemployment / Gig Economy

  • Women accounted for 100% of the 140,000 jobs shed by the U.S. economy in December (Fortune)
  • U.S. women, workers of color bear brunt of December job losses (Crain’s) — The U.S. labor market lost jobs in December for the first time in eight months, while women and workers of color
  • The US lost 140,000 jobs in December. All of those jobs were held by women. (Business Insider)
  • Black and Hispanic workers feeling brunt of pandemic recession according to Philly Fed (WHYY)
  • Who’s Employed in the Early Months of the COVID-19 Recession? An Analysis by Education, Race, Ethnicity, and Gender (Philadelphia Federal Reserve Bank) – Black male employment in the region dropped from 63% to 42% between may and October. Insane.

Inequality / Systemic Racism / Economic Justice

  • Resources abound to help entrepreneurs of color overcome generations of obstacles (Buffalo Business First) — What’s holding back businesses of color from growing in the Buffalo region? Area resources abound, but potential business owners must overcome generations of obstacles.
  • Investors still engage in racist redlining. Why haven’t we done something about it? (Fortune) — Mariah Lichtenstern describes her experience working in the tech startup world.
  • Philly produce market fights to serve the community while facing hardship (6abc) — The African American Chamber of Commerce says 75% of Black-owned businesses were forced to shutdown for months, and many – like West Phillie Produce – are having difficulty with government assistance because of the application process or meeting qualifications

Black Business

Black Business General / Interesting Businesses Stories

  • Crowdfunding helps save Black women-owned Philadelphia cafe amid COVID struggles (Good Morning America) — Thanks to community support, a one-of-a-kind cafe that has offered connection and positivity amid the pandemic will survive to open it’s doors another day
  • The Pivotal Paradigm Project emerges from chaos of 2020 with growth plans ahead (Buffalo Business First) — Jasmine Fluker’s business found a ready source of demand this year, and employers sought to prioritize diversity, equity and inclusion in their workforce policies.
  • Organize Your New Year Routine With a Minimalist Planner From This Black owned business (225 Magazine) — Alter Planning Co. (Read More Here)
  • Applications Open For Genesis Block’s Small Business Accelerator (Wilmington Biz) — Small, minority and women-owned businesses can apply by Friday for the opportunity to be chosen to participate in the 16-week, Back on the Block Minority Accelerator program.

Black Business Specific

  • Siblings launch jigsaw puzzle business focused on Black representation (CBS News)
  • Meet The Black Men Who Launched Tulum’s Most In Demand Yacht Charter Service (Essence)
  • Allergy-friendly cookie company Partake Foods gets $4.8M to fuel expansion (Food Dive) — Newest round of investors includes both prominent Black funders and celebrities, but also big names in natural and organic food.
  • Black Farmers Rewrite the Narrative Around Picking Cotton (Spectrum News) – Tillery and other Black farmers around the state work to educate and uplift rural minority communities and recontextualize southern crops and their painful history.
  • How Sylvia’s, Harlem’s iconic soul food restaurant, is fighting for its community (CBS News) – Told by Tren’ness Woods-Black, one of the founder’s 18 grandchildren and the restaurant’s vice president of communications and strategic partnership.
  • KC woman to launch magazine to help Black-owned businesses (KSHB) — Kansas City, Missouri, entrepreneur Patricia Mitchell is launching a magazine called All Black Everything to help struggling Black businesses and be a community voice for the Black Lives Matter Movement, the arts, entertainment and health.
  • Black Owned Food Markets in New Orleans: An Alternative to Breaux Mart and Rouses (Big Easy Magazine)

Big Business / Corporate

  • Former Bank of America CEO Hugh McColl, other Charlotte leaders launch investment firm for minority-owned businesses (The Business Journals)
  • PepsiCo launches Dig In initiative, hopes to bring $100 million in business to Black-owned restaurants over 5 years (Restaurant Hospitality)
  • Aveeno Launches Skin Health Startup Accelerator For Black Female Entrepreneurs (Essence)
  • Pepsi Launches “Dig In” Platform + Consultancy Program to Support Black-Owned Restaurants (The Spoon) — PepsiCo recently announced the launch of “Dig In“, a consumer-facing platform aimed to highlight the importance of supporting Black-owned restaurants throughout the U.S.
  • Cummins Invests in the Future of 12 Black Female Entrepreneurs Through Grant Program (MarketWatch) – 12 interesting businesses win grants
  • NIKE, Inc. Announces Economic Empowerment Partnership with Black Girl Ventures (Nike) – Press release

Discrimination

  • Police investigating after racist note found outside Black-owned Oak Park café (Chicago Tribune) — Oak Park police are investigating after a brick with a note containing racist language was found Wednesday morning outside a Black-owned café on Oak Park Avenue.

Reparations / Affirmative Action / Diversity / Inclusion

  • Rep. Jackson Lee proposes commission to explore reparations for Black Americans (The Grio)
  • Joe Biden could send a message to Black Americans with this reparations bill (WEAR TV)
  • Mercado on Fifth awards $21,000 in grants to minority-owned businesses (QC Times) — Awardees include restaurants, cleaning companies and retail businesses owned by Black, Latinx, Asian and women entrepreneurs.
  • Movements that matter: Focusing on anti-racism and Black experiences in the workplace (HR Dive) – experiences of Black professionals may feature distinct complexities even as the entire workforce is navigating unprecedented, challenging conditions-
  • The Enterprise Center’s $1M initiative aims to transform Black and brown cleaning businesses into certified disinfectors (Generocity) — While ‘Pro Disinfect’ seeks a very specific outcome, it holds potential as a replicable and scalable model for racial equity, says ImpactPHL guest columnist John Moore.
  • This Local Entrepreneur Is Putting Black-Owned Businesses in the Spotlight (San Diego Magazine) — Duane Johnson launched Tuloko to make Black businesses more accessible
  • Black-founded Kanarys raises ‘historic’ $3 million in funding for diversity and inclusion technology (Dallas News) — Kanarys, a Dallas diversity and inclusion business founded by two Black women, is getting a $3 million boost to ramp up its technology, hiring and sales and marketing efforts.
  • Trader Joe’s Spotlights Black-Owned Suppliers (Winsight Grocery Business)
  • How Do We Sustain Organization Diversity? (Harvard Business School) — James Heskett reflects on one company’s high-profile struggle to bring in more Black executives.
  • 7 months after George Floyd’s death, corporations are still ‘diversity washing’ instead of making actual changes (Business Insider)

Economics

Black Economics

  • U.S. trade policies have disproportionately harmed Black and Latino workers, not just the White working class Trump courted, researchers find (Washington Post)
  • What Black Women Need To Know About Business Loans (Essence)
  • Black Wallstreet Grand Rapids aims to create thriving ‘Black business districts’ (mLive) – Sain wants to create a vibrant commercial corridor that complements existing businesses and brings new restaurants, coffee shops, fitness centers, bookstores and more to the strip.
  • For an Equitable Economy in 2021, We Must Center Black Women. Here Are Four Ways How. (Ms Magazine) – Our economy should work for everyone especially Black women.
  • Investment firm Bright Hope Capital buys RJ Leeper Construction Financing for BIPOC companies in region (The Charlotte Post) — Three Charlotte business leaders have launched an investment firm to establish and bolster Black and Hispanic-owned businesses in the Charlotte area. 

Straight up Econ / The Economy

  • US trade deficit jumps to $68.1 billion in November (Associated Press). General story but still interesting. The trade deficit is not as important as you think. We get cheap prices but lose jobs.
  • Fed’s 2015 Records Show Yellen Misjudged Room for Job Gains (Bloomberg) – So millions more Black people could have had jobs?  The fed seems to be missing the huge under employment problem.  There is NO wage inflation.

Industry Stories

Sports / Media / Entertainment

  • The Boston Red Sox just hired Bianca Smith — the first Black woman to coach in professional baseball history (CNN)
  • Allan Houston, NBA Cares brings national crowdfunding program for diverse entrepreneurs to Louisville (Louisville Business First) — An innovative new crowdfunding platform is going to help get early-stage capital in the hands of Black founders in Louisville, thanks in part to a unique partnership involving basketball star Allan Houston and NBA Cares.
  • Suzi Analogue Wants Black Women in Experimental Music to Never Compromise (New York Times) – The music industry is a business that has relied on Black talent onstage without investing in Black executives behind the scenes;

Marketing / Advertising / Sales / Consumer Behavior

  • An insider’s view on African American art collecting (Coastal Point)

Alcohol / Marijuana / CBD / Gambling

  • There aren’t many Black-owned cannabis businesses. These 3 entrepreneurs say that can change. (NJ.com) — The November vote in favor of legalizing recreational marijuana in New Jersey was just what the owners of Roll Up Life, a CBD distribution company, say they have been waiting for.

Beauty / Fashion / Retail

  • Yes, Reebok Is Ready for Black Ownership — But It Will Need More Than That to Be Successful (Footwearnews)

Technology / Apps / Innovation

  • Op-ed: I broke barriers as Black woman in tech without a degree. Hire more workers like me (CNBC)

Finance / Investing / Venture Capital

  • Treasury to Make a $9 Billion Down Payment on a More Decentralized Banking System (Next City)
  • Black-Owned Private Equity Firm, East Chop Capital, Raises $4 Million and Announces Closing of its Inaugural Fund (Business Wire)
  • Jamaican fintech company receives massive boost from Black-led Florida firm (Face 2 Face Africa) — A Black-led investment firm Blue Mahoe Capital Partners Inc has acquired a 40% equity stake in Jamaica-based microfinance company Sprint Financial Services Ltd (SFS). SFS is operated virtually, providing loans and customer solutions to Jamaicans.
  • Black-Owned Businesses Are Still Struggling to Find Investors (CrunchBase Blog)

Real Estate / Finance / Development / Housing / Segregation

  • His parents weren’t homeowners, so this Minnesotan has dedicated his life to Black homeownership (Star Tribune) — Throughout his 25-year lending career, Trent Bowman has specialized in first-time home buyers and programs.

Cities / Urban Planning / Local Government

  • New constable hopes to create program that gets young people interested in law enforcement (CBS 19). The goal is to build a greater trust between minorities and law enforcement in Dallas.
  • Portland will build new homes, apartments, business incubator designed to benefit Black Portlanders (Oregon Live) — The Portland City Council unanimously approved a plan Wednesday to pump millions of dollars into affordable housing and economic redevelopment that proponents hope will benefit families displaced from Portland’s historic Black neighborhoods.

Politics / Government / National, State and Local

  • With Jon Ossoff and Raphael Warnock wins, Biden could raise taxes and boost health care (USA Today)
  • Cuyahoga County Equity Report Calls For Confronting Systemic Racism (IdeaStream)
  • Biden introduces nominees for his economic team (WPSD)
  • Black-Owned Jackson Businesses See Million-Dollar Boost (Jackson Free Press) – good long article Rockfeller Opportunity Collective program.
  • Portland will build new homes, apartments, business incubator designed to benefit Black Portlanders (Oregon Live) – “ Very White” shows what it takes to support a Black community.

Law / Legal / Non-profits / Philanthropy / Non-Profit

  • Mexican-American and two white business owners sue Oregon for racial discrimination after $62M in COVID relief funds were set aside for black-owned businesses and residents (Daily Mail) — Oregon’s COVID-19 relief fund that earmarked millions for black residents and business owners has been halted due to lawsuits led by one Mexican-American and two white business owners who allege racial discrimination.

Education / Healthcare

  • Mortality rate for Black babies is cut dramatically when they’re delivered by Black doctors, researchers say (Washington Post)
  • Harvard Business School partners on initiative to build ‘pipeline of Black corporate talent’ (HR Dive)
  • Dominion announces $10M scholarship program for minority students (Virginia Business) — Richmond-based Dominion Energy Inc. announced Wednesday a six-year, $10 million initiative to provide scholarships to minority students who reside in the company’s service area, which includes Virginia, Ohio, North Carolina and South Carolina.
  • New startup Blackbook University aims to reimagine the Black student experience in higher ed (Portland Business Journal) — Entrepreneur Ibrahim Balde launched the startup with four co-founders and will be building it from his new Portland base.
  • Mortality rate for Black babies is cut dramatically when Black doctors care for them after birth, researchers say (Washington Post)

Farming / Agriculture / Food

  • America’s Grand Bargain on Agriculture Is in Danger (Bloomberg) — U.S. farm policy has long held urban and rural interests in delicate balance. Can David Scott, the first Black chairman of the House Agriculture committee, maintain it?

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Must-have Tips For Starting Your Own Beauty Supply Store in 2021 (Influencive) — Now more than ever, Black-owned beauty supply stores are being bought by young African-American entrepreneurs that are becoming more interested in the hair care and beauty industry.
  • Forbes Announces The Forbes Fellowship For Business Journalism For Emerging BIPOC Journalists (Forbes) — Forbes today announced the Forbes Fellowship for Business Journalism, created to prepare and support young Black journalists and journalists of color from historically Black colleges and universities pursuing a career in business journalism.

People / Motivation / Leadership / Success Stories / Ideas

  • Exclusive: Black Female-Founded Partake Foods Raises $4.8 Million In Funding From Investors—Including Rihanna (Forbes)
  • Entrepreneur’s Hair Products Empower Black Women (Practical Ecommerce) — KinkyCurlyYaki, Kaye’s company, sells hair extensions, wigs, and more — all to empower Black women with confidence and beauty.
  • They-re Making History as the Youngest Black Women to Co-Own a Property Under a Major Hotel Chain. (Because of Them We Can) — Two former college roommates just closed on an $8.3 million hotel, making history as the youngest Black women to co-own a property under a major hotel chain
  • These Black Women Are Now The Youngest To Own A Hotel Under A Major Chain (Travel Noire) – Another view of the same story because it’s so good.
  • Black Owned 607: Shuna’s Hair Studio (Binghamton) — This week’s Black Owned 607 segment features a hair salon owner who is eager to share what’s she’s learned with young stylists.
  • How founder Rachel Rodgers hit a $1 million-month after Covid upended her business (CNBC) — While women, and especially women of color, are driving forces behind the growth of small businesses in America, just 2% of women-owned businesses bring in $1 million in revenue in a given year.
  • The Cut Finds Its New Top Editor at Teen Vogue (The New York Times) — Lindsay Peoples Wagner will leave her job as the editorial leader of the Condé Nast publication to take over New York Magazine’s style and culture site.
  • Siblings launch puzzle business focused on Black representation (Yahoo Finance) – Puzzles of Color finds artwork depicting Black culture created by artists of color and puts them on puzzles.

Gone but not forgotten

  • Guinevere Redd of Redd’s Funeral Home passes away (Baltimore Sun)

All Other

Caribbean / Africa / International

  • South Africa’s black middle class has prospered under democracy (The Economist)

Travel / History / Arts / Culture

  • The Black Market: A guide to art collecting by Charles Moore (Bookshop.org) – A guide to collecting black art.

Conservative / Alternative

  • Candace Owens: ‘Black’ categories on Netflix, Uber Eats are ‘segregation’ (New York Post)

Opinion

  • Op-ed: I broke barriers as Black woman in tech without a degree. Hire more workers like me (CNBC)

Black Business and Economic Stories for Dec. 28th 2020 to Jan. 3, 2021

Top Stories

  • How new stimulus package can help minority businesses (The Philadelphia Inquirer) 
  • First year of legal marijuana in Illinois generated big bucks but no new minority license holders (Chicago Tribune). The Illinois market is limited to just 21 growers’ licenses, which restrict supply of growers, especially minorities. 
  • Black-Owned farm allows individuals to rent spaces to grow crops (WKBW). The goal is to provide fresh produce for people in the community.
  • The “She-cession” Is Very Real for Minority Women (Bloomberg) – Black and Latina women are affected the most.
  • Tulsa begins race riot remembrance (Baltimore Sun)
  • Minority-owned companies waited months for loans, data shows (AP)

Stories

Protest / Social Justice

  • Year 2020 marked by pandemic and protests (The Bay State Banner) — George Floyd murder kicked off wave of social change

Coronavirus / Covid-19 / Paycheck Protection Program (PPP)

  • December stimulus package includes $12B for minority-owned businesses (News Channel 20)
  • PPP data shows Black-owned businesses received fewer loans, despite efforts (The Business Journals)
  • Minority-owned companies waited months for loans, data shows (AP)
  • How new stimulus package can help minority businesses (The Philadelphia Inquirer) 
  • Black Lives Matter calls for ‘monthly’ stimulus checks for families crushed by pandemic (Fox News
  • The Second Stimulus Still Won’t Show Many Blacks the Money (EurWeb) — The COVID stimulus disparity was nowhere more evident than in the plight of small Black-owned businesses.
  • Faith in COVID-19 vaccine facing uphill battle in Black community (San Jose Spotlight) — Chapman and Black organizations across the Bay Area have joined forces to create COVID-19 Black, a project that aims to help educate and protect African Americans through the pandemic.
  • 5 changes to PPP loans that will affect your business’ eligibility (Business Insider) – Potential changes to PPP loans include Improved access for women- and minority-led businesses
  • State Selects Black LA Firm to Disburse $500 Million in COVID Relief Grants (Sacramento Observer)

Jobs / Workers / Unemployment / Gig Economy

  • How the Pandemic Has Been Devastating for Children From Low-Income Families (New York Times)
  • Black Homeowners Struggle to Get Insurers to Pay Claims (New York Times)
  • Unemployment Claims Remain High as Millions Still Struggle to Find Work (New York Times)
  • The “She-cession” Is Very Real for Minority Women (Bloomberg) – Black and Latina women are affected the most.
  • Black Lives Matter calls for monthly stimulus checks amid pandemic (NY Post) — A one-time $600 stimulus payment isn’t going to cut it, according to Black Lives Matter — which is demanding the government issue monthly checks instead.
  • Minimum wage goes up in South Bay — with mixed reaction (San Jose Spotlight) — The pandemic has crippled much of the service industry, which employs a disproportionate number of low-wage and minimum-wage workers, many of whom are Black and Latino.

Inequality / Systemic Racism / Economic Justice

  • The racial divide of Black and white (Dawn) — In 2016, the median net wealth of white households in America was $171,000 whereas for Black households it was $17,150, according to a statistic by Glassdoor.
  • Coronavirus Woes Close Decades-Old Diner In Brooklyn (Patch) — Mega Bites diner on Dekalb Avenue has been closed “indefinitely” since Christmas Eve.
  • A winning attitude (The Bay State Banner) – No Black baseball entrepreneurs will be compensated for their losses inflicted because of racist policies.
  • Cryptocurrency startup underpaid women and black employees, data shows (Silicon Valley Business Journal) — The fast-growing cryptocurrency startup Coinbase has been rattled in recent months by tensions between executives and employees who said they were being treated unfairly because of their race or gender.
  • What the pandemic has done to racial inequality in North Carolina (Charlotte Observer)

Black Business

Black Business General / Interesting Businesses Stories

  • To expand the economy, invest in Black businesses (Brookings)
  • Shelley Nelson column: COVID-19 colors local news (Superior Telegram) — In the face of a pandemic, new entrepreneurs found their opportunity to fill gaps where restaurants had closed.
  • For Black-Owned Businesses In Kansas City Hit By The Coronavirus, This Nonprofit Has Been A Lifesave (KBIA) — G.I.F.T., which stands for “Generating Income for Tomorrow,” hopes to dole out $180,000 in grants by the time its fiscal year ends in April.
  • 2020 Utah County businesses persevere during COVID-19 pandemic (Daily Herald) — Podium and the Utah Black Chamber announced a partnership in July to create Utah’s first directory intended to find and connect consumers with local Black-owned businesses.
  • Black-owned local boxing gym selected for program to keep them rolling through the punches (News 4 Nashville) — Businesses had to apply and nine black-owned businesses were selected as winners in Middle Tennessee for the program. Four of them are from Nashville.
  • Best of 2020: Minority businesses: Wounded by COVID, but key to inclusive revival (CT Mirror) – Tia Woods created what she called a “modern consignment boutique” called “ITS the Room,” a kind of mini-mall where minority entrepreneurs, crafters and artists could set up shop.
  • Miami Times spotlights Black Business in 2021 (The Miami Times) – Links to various Black Miami businesses
  • NAACP Stimulus Fund Aids 20 Black-Owned Businesses (Pasadena Now) — The NAACP Stimulus Fund has awarded $2,000 checks to 20 Black-owned businesses, according to a press release.
  • Black Is Beautiful initiative brewed up by Weathered Souls cofounder still going strong (San Antonio Report) —
  • Black Business Directory Launched By Color of Change (Black Star News) — Color Of Change, the nation’s largest online racial justice organization, recently launched the Black Business Green Book.
  • City of Jackson to develop program aimed at helping disadvantaged minority business owners (Clarion Ledger)
  • Barnes & Noble sold few Black authors, so Cocoa couple opened Brevard’s only ‘urban’ bookstore | Rangel (Florida Today) — Essence of Knowledge, Brevard County’s only bookstore specializing in Black authors and stories, was born out of a market need, a dream and pain.
  • Asher & Bee owner will open Pensacola’s only Black-owned grocery store in January (PNJ) — In one month, Pensacola’s only Black-owned grocery store will open up its doors on North Ninth Avenue.
  • Inspirational Kwanzaa Coffee Blend Released by Small New Harlem Coffee Company (PR Newswire) — New Harlem Coffee is a small Harlem based coffee company sourcing the finest coffee beans in the world to produce the New Harlem Family Reserve brand of coffee.
  • Leaven Kitchen in Decatur provides a space for minority entrepreneurs (Decaturish) — Stan Sugarman and his business partner, Krystle Rodriguez, opened Leaven Kitchen as a collective kitchen to provide a work space for small businesses, especially minority entrepreneurs.
  • Organizations partner to assist minority-owned businesses in applying for federal funding (Philadelphia Tribune) — Five local organizations are encouraging minority-owned businesses to be prepared to apply for the next round of Paycheck Protection Program funding.
  • A special outdoor dining pavilion in Harlem supports Black-owned businesses (6sqft) – An area once home to prominent, wealthy African-American performers, artists, and professionals is now home to a new outdoor dining and recreation corridor that supports Black-owned businesses
  • BIPOC Businesses That Thrived in 2020 (Forbes) – Businesses founded by people of color have been disproportionately affected by the pandemic. But many have been able to figure out a formula for success during Covid-19.

Black Business Specific

  • These three brothers have opened the first Black-owned distillery in Kentucky (Face2Face Africa)
  • How This Fair-trade Hair and Skincare Brand Is Making a Difference in West Africa and the U.S. (Travel and Leisure)  
  • Food Writer On The Future Of Black-Owned Restaurants In The Bay Area (NPR
  • Startup Spotlight: RichWine offers delivery of organic wines within the Richmond region (Richmond) — Lance Lemon and Kristen Gardner Beal founded their startup wine-selling business, RichWine, with the goal of bringing a wide selection of clean-farmed wines to a diverse audience in the Richmond region and Virginia.

Big Business / Corporate

Reparations / Affirmative Action / Diversity / Inclusion

  • Employees at center of racial controversies at tech companies speak out (Market Watch). Former employees of Pinterest, Google, and Uber speak about their experiences related to diversity in the tech industry.
  • Forbes Diversity & Inclusion Awards 2020: The 2% Solution To Racial Inequality (Forbes)
  • Philly to pay $9.8M to man exonerated who spent 28 years in prison after wrongful conviction for murder (Philadelphia Inquirer)
  • Sister Cities Project fighting racism by building relationships between Black and White neighborhoods (San Diego Union Tribune). The goal is to encourage the sharing of support, resources and cultures. 
  • Diversity Is Great But Will Organizations Be Ready For Inclusion In 2021? (Forbes) — Black business consultants can add immense value to organizational development.
  • UNLV Newsmakers 2020: Social Justice (UNLV) – A sampling of university experts who sounded off on the year’s monumental movements surrounding race, ethnicity, and gender.
  • Having Faith: Giving Back in the Spirit of Imani, the Seventh Day of Kwanzaa (Yahoo Life) — The following places focus on providing faith, health, and encouragement to the members of the Black community.

Economics

Black Economics

  • Texas Southern creates program to develop tomorrow’s bankers (Houston Chronicle) — Of the 90,000 Black-owned businesses in the city, about half are considered “unbanked” or “under-banked,” meaning they have minimal or no working relationship with a commercial lender or bank, Scroggins said.
  • Smart VCs Recognize That Black Female Founders May Lead The Next Unicorns (Forbes) – Keen observers realize Black women are sparking a wave of innovative startups with the potential of becoming unicorns.
  • Black Economic Council receives $1.5 million in donations (The Bay State Banner) — BECMA launched its Greenwood Challenge, aimed at raising $1 million to help black-owned businesses in the state not only survive a tough time, but grow.
  • Sadie Alexander: Meet the First Black Woman Economist in the U.S. (Teen Vogue)

Straight up Econ / The Economy

  • Study looks at patterns of racial segregation, poverty in North Eastern Pennsylvania (Times Leader)

Industry Stories

Alcohol / Marijuana / CBD

  • But that’s exactly what Councilor-at-large Moises Rodrigues did during a contentious three-hour city council meeting.
  • Virginia-based National Black Farmers Association supports adult-use marijuana legalization in Commonwealth (WTKR)
  • First year of legal marijuana in Illinois generated big bucks but no new minority license holders (Chicago Tribune). The Illinois marketThe Pantagraph) — The expungement process is limited to just 21 growers’ licenses,part of the state law that legalized licensed sales of marijuana starting in 2020. It’s meant to reduce the impact of the war on drugs, under which restrict supply of growers, especially minorities. 
  • Shawn Kemp is lighting up Seattle again (Washington Post). Kemp vows to diversify the marijuana industry for cannabis crimes, despite similar reported rates of usage.
  • Hayward looks to be more inclusive with cannabis business permits (East Bay Times) — The city could require half of any future cannabis businesses to be minority-owned as part of an overhaul of how the industry operates in Hayward.
  • The Push to Diversify Colorado’s Cannabis Industry (5280) — Changes to licensing in Denver, slated for early 2021, could help make the marijuana business more accessible to entrepreneurs of color.

Beauty / Fashion / Retail

  • Barnes & Noble sold few Black authors, so Cocoa couple opened Brevard’s only ‘urban’ bookstore | Rangel (Florida Today) — Essence of Knowledge, Brevard County’s only bookstore specializing in Black authors and stories, was born out of a market need, a dream and pain.
  • Asher & Bee owner will open Pensacola’s only Black-owned grocery store in January (PNJ) — In one month, Pensacola’s only Black-owned grocery store will open up its doors on North Ninth Avenue.

Technology / Apps / Innovation

  • Tech platforms vowed to address racial equity: how have they fared? (The Guardian) – Tech companies issued statements in response to Black Lives Matter this year but did they follow through ?
  • Black-owned food delivery app service expands to Detroit (Metro Times)
  • What we can do about technology widening wage gaps (The Hill)
  • Vernon Coleman founded Realtime, is an invite only app for video chatting (Business Insider) – He got $4 million in funding.

Finance / Investing / Venture Capital

  • Access Denied: The financial media (American Banker) – Podcast plus nice set of links
  • Women of color sweep business accelerator competition (KUSI)
  • 20 Minutes With: Wole Coaxum, Founder and CEO of MoCaFi (Barrons)

Real Estate / Finance / Development / Housing / Segregation

  • How Philly’s biggest 2020 real estate deal could create opportunities for Philly students (WHYY)

Politics / Government / State and Local

  • Biden Administration Likely To Increase Contracting Opportunities for Small and Minority-Owned Businesses (Government Executive)
  • Push is on for NJ Governor Murphy to deliver for minority (NJ 101.5) – Surprised to see this story since NJ 101 went “Barstool Conservative.”
  • Howard Historian To Lead New U.S. Commission (HBCU Buzz)

Education / Healthcare

  • Some HBCUs are seeing record increases in enrollments, but still grapple with funding challenges (CBS News).
  • Four Reasons Why 2020 Was The Year Of The HBCU (Forbes)
  • College student loans: another injustice for the Black community (Lansing City Pulse)

Farming / Agriculture

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • A New Scholarship for Black Students Aims to Help Longhorns in the Business World (Alcalde) — This fall, two Longhorns will enter the McCombs School of Business with a unique support system.

People / Motivation / Leadership / Success Stories / Ideas

  • Cathy Hughes Shares How Better Banking Habits Help Black Consumers And Businesses Generate Wealth (Forbes
  • Beyoncé celebrates the end of year with “Cheers to 2020” recap video (Revolt) — In the video, Beyoncé highlights the charitable actions of her BeyGOOD foundation, including providing $5,000 grants to those who are facing eviction or foreclosure due to the pandemic.
  • In Her Own Words: Judi Townsend’s pandemic partnership bridges business, race and RBG (Biz women) – A friendship built on hopes for social justice overrides age, geographical, and race gaps.
  • How this single mom went from serving overseas to opening her own gelato shop (ABC News) — This gelato shop isn’t only known for its healthy take on the popular dessert. It’s also owned by a female Black veteran.
  • African-American Chamber of Commerce names Regina A. Hairston new president (Philadelphia Business Journal) – New president of the AACC is looking forward to championing Black-owned businesses.
  • African American woman becomes the youngest female franchisor in the U.S (NJ.Com) – Custom Stretching

All Other

Travel / History

  • Oklahoma begins Tulsa race massacre centennial remembrance (8 News Now)
  • Tulsa begins race riot remembrance (Baltimore Sun)

Opinion

  • Op-ed: What I learned about white privilege through 150 interviews across America (Chicago Tribune).
  • Opinion: Canceling student debt would narrow racial wealth gap and stimulate economy (The Detroit News)
  • Reclassifying ‘gig’ workers is a bad idea | Busby (App) — As COVID-19 and the massive economic downturn change the lives and livelihood of every American in this country, we know firsthand Black businesses are hit the hardest.

Black Business and Economic Stories for December 21 to 27th 2020

Top Stories

  • Guaranteed Income Is Coming To New Orleans, Here’s What It Could Look Like (WWNO). New Orleans is one of nine U.S. cities expected to launch or expand guaranteed income in 2021 in partnership with Mayors For A Guaranteed Income (MGI).
  • This new subscription service is helping people find and support local Black-owned restaurants (CNN). Brava is the subscription service that provides its users with digital gift cards to different Black owned restaurants.
  • Oprah Winfrey Sells Most of OWN Stake to Discovery for $36 Million (Bloomberg)
  • Black Men Have the Shortest Lifespans of Any Americans. This Theory Helps Explain Why. (ProPublica). Stress is a big contributing factor to this.
  • Former NBA player Junior Bridgeman to buy bankrupt Ebony for $14 million (Chicago Tribune)
  • The reluctance of Canadian businesses to collect race-based data needs to end (Globe and Mail) — Not asking for race, gender and ethnicity data while trying to stop bias and systemic racism is like not testing for COVID-19 and tracing contacts while trying to stop the spread of the virus. Canada is unwilling to face racial discrimination. In fact they scared of even collecting the data. Just like the US.
  • Former NBA player Junior Bridgeman to buy bankrupt Ebony for $14 million (Chicago Tribune)

Protest / Social Justice

  • Black Lives Matter vs. Loblaws (Corporate Knights) — Sitting on the fence has itself become a risky option in an age when companies’ performances are increasingly judged by more than quarterly earnings.

Coronavirus / Covid-19 / Paycheck Protection Program(PPP)

  • Non-profit Black San Diego gives thousands to families in need during pandemic (10 News) — Non-profit Black San Diego started up in September with the goal of bolstering Black-owned businesses and giving them tools to succeed.
  • Analysis shows Black and Hispanic businesses lagged in access to PPP loans (Portland Business Journal)

Jobs / Workers / Unemployment / Gig Economy

  • Shake Shack offering up to $400 holiday bonus to hourly workers (Market Watch)
  • Guaranteed Income Is Coming To New Orleans, Here’s What It Could Look Like (WWNO). New Orleans is one of nine U.S. cities expected to launch or expand guaranteed income in 2021 in partnership with Mayors For A Guaranteed Income (MGI).
  • New Signs of Economic Distress Emerge as Trump Imperils Aid Deal (New York Times). Person income falls, consumer spending decreases, and unemployment continues to rise.
  • The federal eviction moratorium expires in January. It could leave 40 million Americans homeless. (USA Today)
  • How Black Parents Survived 2020 (New York Times)
  • Deadliest jobs in America statistics reveal racial disparities (Detroit News) – Workplace deaths are increasing much faster for African American, Latinx and Asian American workers.
  • Black Workers in Baltimore Hit Hard by the Pandemic (Fox 5 News) — According to the report “The State of Black Workers in Baltimore,” Blacks make up 56.5% of the overall workforce in Baltimore but a disproportionate amount of the low-wage workforce, 67.3%.

Inequality / Systemic Racism / Economic Justice

  • ‘There was no hospitality.’ Black couple claims they were wrongfully denied entry to Trump hotel. (Washington Business Journal) — Curtis “Trey” Carswell and his girlfriend, Markita Gibson, were out on an evening walk in September in downtown D.C. when they came across the Trump International Hotel — and wanted to see the inside for the first time
  • How Reimagining Employment Practices Can Advance Racial Justice (Forbes) — Black Americans face a long history of disconnection from the mainstream economy and workforce, and the disparities in education and employment are stark.
  • How Racism Ruined Black Santa Monica (LAist) — Many Black-owned small businesses suffered since most white people wouldn’t patronize them, according to Jefferson.

Black Business

Black Business General / Interesting Businesses Stories

  • Has 2020’s spike in support for Black-owned business carried through to the holidays? (Marketplace)
  • Access to grants, ability to transition online makes all the difference for Black-owned businesses (CBC)
  • Black People Eats’ Jeremy Joyce Is Highlighting Chicago’s Black-Owned Restaurants (Travel Noire) — Jeremy Joyce founded Black People Eats in 2017.
  • North Omaha development moves by Gov. Ricketts draw welcome, plus suggestions (Omaha World-Herald) — The State of Nebraska plans to open an Department of Economic Development field office in North Omaha, at 5319 N. 30th St., and is making changes in state procurement and contracting in hopes of increasing its business with minority and small businesses.
  • How an L.A. indie bookstore’s GoFundMe inspired a small business lifeline (Los Angeles Times) – In partnership with Pacific Community Ventures and TMC Community Capital, the owners of skin-care company Dermalogica decided to launch Found/L.A. Small Business Recovery Fund, a $1-million grant program to help small minority-owned businesses in Los Angeles County stay open during the pandemic.
  • Small company puzzles out delivery logistics with sudden demand (Marketplace) — The idea for puzzle company grew out of Matthew’s personal experiences as a Black parent shopping for his young children.
  • These were Delaware’s 10 most-read tech and business stories of 2020 (Technically) — Unemployment, WFH burnout and Black-owned businesses were among the big topics Technical.ly Delaware readers cared about this year.
  • Comcast RISE lifts Black-owned businesses (Miami Times) — A reboot of Comcast Corporation’s RISE program. Black businesses in Twin Cities get a boost from Comcast RISE program (Twin Cities) —
  • Retail Business Services joins, donates to minority supplier council (Store Brands) — Retail Business Services is donating $100,000 to the National Minority Supplier Development Council’s Business Consortium Fund and will become a member of the organization.
  • How A San Jose Firm Is Opening Doors For Minority-Owned Businesses (Patch) – A San Jose Firm is looking for new ways to embrace the community and tear down barriers.
  • Self-care, motivation and networking at the St. Pete Fall Black Business Expo (Weekly Challenger) — “Empower,” “invest,” “network” were the themes on display during the St. Pete Fall Black Business Expo, held last month at Lake Vista Recreation Center.
  • Comedian X Mayo On The Importance Of Supporting Black Businesses (Forbes) — By Black is an incredible series that highlights Black entrepreneurship while educating viewers on the barriers these specific brands and products have had to overcome.
  • Giant Food Introduces Shelf Labels to Spotlight Products Owned by Minority Businesses (Prince William Living) — Giant Food is helping customers identify products owned by minority based businesses through updated shelf labels.
  • Six Black, women-owned businesses to support (that will take your fashion game to the next level!) (NBC News) — Wardrobe stylist and founder of Blueprint for Style, Monica Barnett, gives Know Your Value her top picks.
  • Jessica Winnie showcases Black products with MN Black Box (Minneapolis Star Tribune)

Black Business Specific

  • This new subscription service is helping people find and support local Black-owned restaurants (CNN). Brava is the subscription service that provides its users with digital gift cards to different Black owned restaurants.
  • Black and Mobile, delivery app for Black-owned restaurants ramps back up in Detroit (Detroit Free Press)
  • Louisville’s first Black-owned distillery to open in West End (Louisville Business First) — Trio founded the bourbon brand out of a desire to produce quality bourbon whiskey in an industry that has thus far remained largely inaccessible to minority entrepreneurs
  • Connecticut Man Creates Proud Puffs – A Black-owned Cereal Brand (Because of Them We Can) — Connecticut father used social media to crowdfund the production of the Proud Puff cereal.

Big Business / Corporate

  • Giant Food to spotlight women- and minority-owned brands with new labels (Grocery Dive)
  • Only 3% of the brands in Sephora are Black-owned—Here’s how the retailer is changing that (Fast Company)
  • How Pepsi Plans to Help Black-Owned Restaurants Generate $100 Million in Sales (Adweek) – Yikes, this can’t be healthy?
  • Companies Have Promised $35 Billion Toward Racial Equity. Where Is the Money Going? (Wall Street Journal) — Corporations say they are using their financial might to narrow racial wealth and opportunity gap; tracking those efforts can be tough.
  • American Express Donating $2.5 Million to Black-Owned Business (Hypehair) — With the economic crash due to Covid-19, many small businesses have been suffering, and black-owned businesses have been hit especially hard
  • PayPal (PYPL) Pledges Additional $5M to Support Racial Equity (Nasdaq) — In line with PayPal Holdings, Inc.’s PYPL stance against racial discrimination, the company further announced an extra $5 million in grants in a bid to support black and minority-owned businesses.

Discrimination

  • McDonald’s class-action lawsuit grows to nearly 80 plaintiffs (Chicago Crusader)
  • Black Tech Entrepreneur Fights to Empower Minorities after Facing Discrimination (Black Star News) — Joseph Heller, wants to help Black business compete with major retailers.

Reparations / Affirmative Action / Diversity / Inclusion

  • A Black woman called somebody racist. She’s now fighting a defamation suit headed to the Nevada Supreme Court. (This is Reno)
  • How Inclusion Helps Companies Succeed (Wharton)
  • Companies promise more diversity after George Floyd, but will change happen this time? (Columbia Dispatch)
  • The history of Black dolls and why it was once so hard to find (WMC) — Americans spent over 3 billion dollars on dolls last year according to the Toy Association. However, for years, Black dolls were very hard to come by in stores.
  • Invisible Chapters: Writing The Black Community Into The Stories Of Libraries, Bookstores And Publishing (KJZZ)
  • Making amends for a massacre nearly 100 years ago may be a model for reparations (Washington Post) — As each new year approaches, Ebony Pickett looks back to the dark history of the massacre that began in the little-known majority-Black enclave in Rosewood, Fla., on Jan. 1, 1923.
  • Aurora James Is Helping Companies Invest In Accountability With The ‘15 Percent Pledge’ (Forbes) — The 15 Percent Pledge urges major retailers to commit at least 15% of their shelf-space to Black-owned businesses, offering consulting services to help these corporations reach that goal.
  • 5 ways businesses can embrace diversity, equity and inclusion (Albuquerque Business Journal) — In a year of personal and professional hardship, businesses have been confronted with an urgent need to evolve and adapt to an ever-changing environment.
  • 7 ways to make year-end charitable donations supporting racial equity. ‘If there was ever a time to give generously, it’s now’ (Market Watch) — As Americans make their year-end charitable contributions, many are likely reflecting on the suffering the country has witnessed in 2020.

Economics

Black Economics

  • Personal Finance Columnist Michelle Singletary Examines Race, Wealth Gap For Black Americans (WBUR)
  • How Business Can Boost Human Rights In 2021 (Forbes) – 2020 was a year headlined by a global health crisis, profound economic distress, and high-profile examples of racial inequality.
  • 2020 In Review: The Story Behind ‘The Color Of Public Money’ (WGBH) – Reporting shows minority firms not getting government contracts.
  • Black leaders urge action to match Janet Yellen’s words on race (Financial Times) – Yellen was unusually frank for a Treasury Secretary about considering race when fixing economic problems.
  • Minnesota can do better on Black economic inclusion (Star Tribune)

Straight up Econ / The Economy

  • U.S. consumer confidence stumbles as Covid saps economic momentum (CNBC)
  • Borrowing hits record high as talk of “double-dip” recession grows (Evening Standard)

Co-Ops / Employee Owned / Cooperative Economics (UJamaa)

  • In the time of COVID-19, Kwanzaa goes virtual (Chicago Sun Times) – Kwanzaa event, that usually focuses on Black businesses and artisans offering handcrafted items, is now virtual this year.
  • Kwanzaa celebrates African-American heritage. Here’s how it came to be—and what it means today. (National Geographic)
  • History of Kwanzaa (LA Progressive)
  • Savannah holding first Kwanzaa Krawl (WTOC 11)

Industry Stories

Sports / Media / Entertainment

  • ‘Soul’ Features Pixar’s First Black Lead Character. Here’s How It Happened. (New York Times)
  • Oprah Winfrey Sells Most of OWN Stake to Discovery for $36 Million (Bloomberg)
  • Ravens Star Calais Campbell Donates $125K for Baltimore Black Businesses (Baltimore Times) — Baltimore Ravens star Defensive End and Walter Payton NFL Man of the Year, Calais Campbell has teamed with The Rockefeller Foundation to help struggling Black businesses in Maryland survive the COVID-19 pandemic.
  • DC United’s new head of business operations will be first Black president of an MLS team (Washington Post) – DC United appoint Danita Johnson as head of business operations.
  • Chicago Bulls and BMO Harris Bank Team Up to Support Local Black Owned Businesses (Bulls.com) — As a continuation of the team’s social justice efforts, the Chicago Bulls and BMO Harris Bank have partnered to launch a program supporting Chicago Black owned businesses.
  • NBA star Moe Harkless donates rent money to 50 NYC families (The Grio)
  • Jrue Holiday Donates His Salary To Black-Owned Businesses (Def Pen)
  • Former NBA player Junior Bridgeman to buy bankrupt Ebony for $14 million (Chicago Tribune)

Marketing / Advertising / Sales / Consumer Behavior

  • Black Diamond Caters to Growing Population of Black Gun Owners (Queen City Nerve). 58.2% of Black men and women bought more guns in the first six months of 2020 than in previous years.

Alcohol / Marijuana / CBD

  • What a Decade as an African American in the Cannabis Business Has Taught Me (Green Entrepreneur) – Wanda James, CEO of Simply Pure Dispensary, stands on top of a successful, vertically-integrated, socially-conscious cannabis company.

Real Estate / Finance / Development / Housing / Segregation

  • US existing home sales drop for the first time in 6 months amid rising prices and record-low supply (Business Insider). General story but interesting data.
  • Mortgage rates slide to historic lows for third time this month (Washington Post)
  • Proposed fund would help Black, Indigenous and people of color buy property (VT Digger)

Construction / Jobs / Discrimination / Architecture / Design

  • The Hampton House Motel: The Real History of the Hotel Where Malcolm X, Muhammad Ali, Sam Cooke, and Jim Brown Famously Converged (Architectural Digest)

Politics / Government / State and Local

  • Aurora mayor tapped to lead state’s new commission to improve the lives of black males (Daily Herald)
  • Black votes should be represented in Congressional staff member (Daytona Times)

Education / Healthcare

  • ‘Already Behind’: Diversifying The Legal Profession Starts Before The LSAT (NPR). While African Americans make up 13.4% of the U.S. population, they make up only 5% of all lawyers.
  • Black Men Have the Shortest Lifespans of Any Americans. This Theory Helps Explain Why. (ProPublica). Stress is a big contributing factor to this.
  • Some good colleges still keep tuition low. Give their students higher Pell Grants. (Washington Post)
  • Stimulus bill a boon to historically Black colleges and universities, with $22 million in debt forgiveness for Philander Smith (Arkansas Times)
  • Canceling student debt would narrow the racial wealth gap and stimulate our economy (Sun Sentinel
  • Canceling all student debt makes great economic sense for America — here’s why (Business Insider)

Farming / Agriculture

  • ‘We wanted to work the land with our kids’: the Black US farmers reclaiming the soil (Guardian) – An effort to address lack of Black farmers and lack of fresh food in Black communities.

Rehab / Re-entry / Corrections / Police

  • Tom Gores’s Prison Investment Drags NBA Into Controversy (Bloomberg) – Phone calls in jail and prison are unfairly expensive. Gores own Securus Technology which provides phone services.

People and Careers

People / Motivation / Leadership / Success Stories / Ideas

  • Don Charlton has raised millions from VCs. He shares his best tips for Black founders on how to overcome investing bias and succeed in Silicon Valley. (Business Insider)
  • COVID-19: Beyoncé donates $500,000 to people facing eviction due to housing crisis (Sky News)
  • Interview With Kristal Hansley: The First 90 Days As The First Black Female CEO In Solar Energy (Her Agenda) — The internet went into a frenzy after hearing about, Kristal Hansley, the first Black female CEO in the solar energy arena.
  • Black-Owned Brands Whose Businesses Skyrocketed Amid COVID-19 (Afrotech) — Some businesses managed to prevail in the midst of the global health crisis, even more so exceeding expectations no one could’ve imagined.
  • Web Capital Helps Businesses Achieve Success Even During the Pandemic (Menafn) — Berry Moise is the owner and CEO of Web Capital , a Black-owned digital marketing company that’s helping business owners transition their enterprises online and remain viable.
  • Google tapped this 29-year-old producer to create its Year in Search song and he brought together over 80 Black artists, engineers, producers, and managers (Business Insider) – Music Producer Peter CottonTale highlights the struggle of Black Americans after being tapped by Google.
  • Madison entrepreneur featured in national ad campaign (Madison Magazine) — Syovata Edari, founder and owner of CocoVaa Chocolatier, is featured in a national advertising campaign and initiative encouraging support of Black-owned businesses this holiday season.
  • Rap start 21 Savage worked with Black website BlackStanta.Com, to sell Christmas Hoodie Benefiting his own Leading By Example Foundation (Respect Magazine)

All Other

Caribbean / Africa / International

  • China to leapfrog U.S. as world’s biggest economy by 2028, report says (The Japan Times) — Important
  • The reluctance of Canadian businesses to collect race-based data needs to end (Globe and Mail) –
  • The reluctance of Canadian businesses to collect race-based data needs to end (Globe and Mail) — Not asking for race, gender and ethnicity data while trying to stop bias and systemic racism is like not testing for COVID-19 and tracing contacts while trying to stop the spread of the virus. Canada is unwilling to face racial discrimination. In fact, they scared of even collecting the data. Just like the US.
  • Pandemic Squeezes South Africa’s Already Tight Middle Class (Voice of America News)

Travel / History

  • Afro-Latinos in Latin America, Caribbean is the focus of this travel show (NBC News)