Stories for Feb 22nd to 28th 2021

Adenah Beyoh

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

Top Stories

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

Stories 

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

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

Jobs / Workers / Unemployment / Gig Economy

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

Inequality / Systemic Racism / Economic Justice

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

Black Business

Black Business General / Interesting Businesses Stories

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

Black Business Specific

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

Big Business / Corporate

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

Discrimination

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

Reparations / Affirmative Action / Diversity / Inclusion

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

Economics

Black Economics

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

Straight up Econ / The Economy

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

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

Industry Stories

Sports / Media / Entertainment

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

Marketing / Advertising / Sales / Consumer Behavior

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

Alcohol / Marijuana / CBD / Gambling

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

Beauty / Fashion / Retail

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

Technology / Apps / Innovation

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

Finance / Investing / Venture Capital

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

Real Estate / Finance / Development / Housing / Segregation

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

Politics / Government / State and Local

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

Education / Healthcare

Farming / Agriculture / Food

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

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

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

People / Motivation / Leadership / Success Stories / Ideas

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

All Other

Caribbean / Africa / International

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

Travel / History

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

Opinion

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

Other

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