Top Stories
Pharrell Williams’ $1 Billion Plan For Black And Hispanic Entrepreneurs (Forbes)- Black Ambition which was founded in 2020 held its third annual Demo Day, which discusses lack of capital for startups among Black and Hispanic communities.
Why ‘Buy Black’ for the holidays matters (Bay State Banner)- Spending money in our own black community provides jobs and helps them live productive lives and grow their personal wealth.
Black Women Invest works to fill wealth and pay gaps, build strong investors (10news.com)- African American women have fallen towards the bottom when it comes to the wealth gap and because of race.
Building a Beloved Community: A Baseline and Framework for Building Black Wealth in Atlanta. (Atlanta Wealth Building Initiative) — Lots of details on Black wealth and home ownership in Atlanta.
Black Business
Large banks have let down Black America for too long. (Ebony)- Black Americans aren’t given the same access to capital and lending opportunities as their white counterparts.
Forty Acres Fresh Market Breaks Ground In Chicago After Years Of Delays (Block Club Chicago) – Store is Black and Women owned.
Follow-Up Study of Black Entrepreneurs in Wine Industry Reveals Only Slight Inclusion Gains as Well as Continued Funding and Distribution Obstacles(Wine Industry Advisor)
Women of color are underrepresented in federal workforce leadership, EEOC says (HR Dive)
Revolutionizing the Black Creative Economy: Munson Steed Unveils Game-Changing Event , RIDE Con, Empowering Innovators with AI and Digital Tools (Audacy)
Black women helping close the gender gap as the fastest growing group of entrepreneurs (PR Newswire)
The Supreme Court changed the rules on affirmative action — now minority small-business owners are hurting (The Hill)
Black-Owned Wine Company Wondry sales up 4x From $225,000 To $1.1 Million(Benzinga). Mark Cuban Publicly invested on Shark Tank.
Sephora Announces Black-Owned Beauty Grant (Business of Fashion)- Sephora has partnered with Fifteen Percent Pledge to award $100,000 to one Black Business owner within the Beauty industry.
Business Grants For Black Women (Forbes Advisor)- Business grants for Black women are funding opportunities that promote racial and gender equity in business.
Russel Innovation Center for Entrepreneurs awarded $100,000 Grant from Bank of America (PR Newswire)– The Russel Center Website is Here.
Boss Women Media Unites 1,500 Black Women In A Powerful Celebration Of Sisterhood And Business (Forbes)
Black Economics
Black Women Invest works to fill wealth and pay gaps, build strong investors (10news.com)- African American women have fallen towards the bottom when it comes to the wealth gap and because of race.
New report identifies economic challenges and provides solutions for building generational Black wealth in Atlanta (WABE – Atlanta Public Radio)
Building a Beloved Community: A Baseline and Framework for Building Black Wealth in Atlanta. (Atlanta Wealth Building Initiative)
People
Black Enterprise Announces the 2023 40 Under 40 List (PR Newswire) – It is nice to see a list of people in different areas who are achieving. They are great to follow on social media for ideas and inspiration. Lists from 2023, 2022 and 2021 can be found here (Black Enterprise)
Farmers
Black farmer looks to ancestors to help Californians battle climate change (LA Times)-Pandora Thomas a naturalist and environmental educator wants to teach fellow black Californians to use their African American heritage, to usher their communities and all of humanity during this climate crisis.
Black farmers working together to encourage more BIPOC people back into agriculture (Spectrum News 1)- According to The National Black Farmers Association, Black people have been systematically excluded from programs that would assist farmers in owning land and building wealth.
National Black Farmers Association Launches petition against menthol ban (Mt. Airy News) – Yikes, more smoking ??
Black farmers, urban gardeners empowered through the BUGS Conference (The Final Call)-This conference is provided to help black farmers and urban gardeners with valuable resources and information to succeed.
Finance
Wall Street is tapping firms led by women, and minorities for billion-dollar bond deals (Crain’s New York Business)
In the midst of the FTX trial, I went to the Black Blockchain Summit to talk to the movement’s biggest believers (Wired)
Health
More patients are using portals, but disparities remain (Medical Economics)-Black and Hispanic patients weren’t being offered access to portals as often as white patients.
Hospitals serving large Black, Hispanic populations have fewer resources for cancer care: Study (Medical Xpress)
Radiology services much harder to come by if you’re Black or Latino and living in the US (Radiology Business)
Politics
As Biden scrambles to reassure Black, Latino voters, some ask if the wealth gap can be fixed (The Hill)
Biden’s economy pitch to minority voters (The Hill)
Real Estate
Samuel Dolciné Teaching Real Estate to Black Entrepreneurs (pix11.com)
Reckoning With the Loss of Black-Owned Land (National Associations of Realtors)-Approximately 90% of land Black Americans accumulated after the Civil War is no longer in the hands of Black families.
Marijuana / Alcohol
Detroit’s Office of Marijuana (OMVE) has awarded 37 new licenses including 13 majority owned by African Americans.(Business of Cannabis)
Sports
HBCUs recruit international athletes for tennis. Some are calling it into question (Alabama Public Radio)
Economics
NYC Congestion Pricing Could Unleash a Transportation Revolution (Bloomberg) – Here is an example of basic economics in practice. Charging for a “free” benefit will shift demand elsewhere. Let’s hope it does not get watered down.
International
Leveling the Playing Field for Black Canadians: A Call to Action for Leaders (Conference Board of Canada)
Government
Governor Hochul Celebrates Historic Elimination of Certification Backlog for New York’s Minority- And Women-Owned Businesses (Urban CNY)
Yes, You Should Sign Up for the Free IRS Business Tax Account. (Inc. Magazine) Taxes can be a headache for small businesses. But a new slate of online features–from making payments to viewing tax notices–might finally be available come 2024. The BEBN has had an electronic business account for several years.
Mayor Harrell signs Executive Order to expand equity and opportunity in City contracting (The Consultant Connection)
Education
Black and Latino students lack access to certified teachers and advanced classes, data shows (NBC News) – Black high school teachers are under-certified.
Morgan State unveils plans for new $342M science complex (The Daily Record) – Morgan state has become the leader in Black science education. You want to a Historically Black school in a rich, state committed to education. Unfortunately, only Maryland and Virgina fit that Bill. Pennsylvania is the national example for state underfunding education.
Spelman receives $750K grant to boost local Black entrepreneurs (Atlanta Journal-Constitution) – Funded by Black Economic Alliance
Construction and Housing
As the Government Invests Billions in Infrastructure, Advocates Say “It Costs” to Sideline Blacks, Other Minorities (San Diego Voice)
Hip Hop Icons and Entrepreneurs T.I. and Tiny Open Affordable Housing Complex in Atlanta (Milwaukee Community Journal)