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)
