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.
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.
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.
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.
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;
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)
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.
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.
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.
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)
Black farmers look to next Congress, Biden to dismantle ‘culture of discrimination’ (Politico)
Virginia-based National Black Farmers Association supports adult-use marijuana legalization in Commonwealth (WTKR)
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
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.
