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