Virtual Halle-Bration focuses on supporting Black-owned businesses (WCPO) — Halle-Bration is going virtual this year due to the pandemic, and this event will focus on supporting Black-owned businesses
Young Black Professionals spark new local movements (Dayton Business Journal) — One young professional group is uplifting the Dayton-area Black community with new initiatives
She hired her first employees a week before the pandemic arrived. How has business fared since then? (Q City Metro) — Destini Gilliam’s story is indicative of a much bigger narrative that has impacted Black businesses, specifically those owned by Black women.
Birmingham chefs sign on with Black Restaurant Week (Birmingham Business Journals) — This year, Black Restaurant Week LLC, the organization celebrating the flavors of African-American, African and Caribbean cuisine with a series of regional cultural events, will be in the spotlight in both Alabama and Birmingham.
Black business owners see opportunity at Avondale Town Center (WCPO) – Several prime commercial spaces facing Reading Road are under lease, and a majority of new establishments are owned by African Americans.
Black businesses in Austin navigating new challenges (Austin Talks) — Liz Abunaw, founder and owner of Forty Acres Fresh Market, attributes the influx of customers to conscious spending.
Minority Business Partnership expands its offerings (Dayton Business Journal) — Belinda Stenson has led the Minority Business Partnership for eight years but none quite like this current year.
Shop for the holidays & support Mid-South Black businesses through virtual Black Christmas Expo (Local Memphis) — Black Christmas Expo is a three-day weekend where you get to support and shop with 100 black businesses from the comfort of your own home.
Black-Owned Outdoor Market (Miami Times) — New Richmond Heights market highlights local businesses
Want to support Macon’s Black-owned businesses? (Macon) – Take a tour. Press release.
On the up in 2021: Three Black business owners growing revenue, staff and real estate next year (Knox News) — Meet three Black entrepreneurs who are coming out of 2020 stronger than ever, and are moving into 2021 with a growth mindset.
Black Business Support Collective mapping a post-Covid future for Black-owned businesses (Minneapolis Business Journal) – The Black Business Collective looks to navigate a post-COVID future for Black Businesses
Building wealth through Black Businesses (Chicago Crusader) — As part of an ongoing sponsored series on Black financial health, the Chicago Crusader is exploring the racial wealth gap, its impact on our community, and what’s being done to address it
New Platform Spotlights Black-Owned Businesses in Raleigh (Spectrum) — The Black Friday Market may look like any other store, but it’s a business model different from the rest
Englewood Shop That Helps Local Entrepreneurs Needs Support After Car Crashes Into Building (Block Chicago Club) — Justice Collins opened Culture Connection 360 to give local entrepreneurs a helping hand 12 years ago. Now, Collins needs a hand himself
Campaign urges holiday shoppers to patronize Black-owned retail stores (The Champion Newspaper) – Campaign aims to give a new meaning to Black Friday in an effort to uplift Black Businesses
Black Sunday Holiday Expo Showcases Small Businesses With Big Ambitions (KPIX 5) — The annual Black Sunday Holiday Expo featured an outdoor marketplace of small businesses with big ambitions.
Black Business Specific
Two High School Friends Open the First Black-Owned Toy Store in Carson Mall (NBC Los Angeles). Feon Cooper and Kareem Burton are the owners of the toy store called Black Star Collectibles.
Black-owned theater opened in the pandemic. Next year, it plans to be a permanent drive-in. (NJ.com)
Stylist Zerina Akers and Thrilling Are Putting Black-Owned Vintage Shops Front and Center (Vogue) — Akers has curated a special collection of her favorite vintage pieces from Black-owned businesses on Thrilling
BMO Harris launches new program for minority-owned small businesses (NWI Times) — program is designed to increase small businesses’ access to capital through customized lending criteria and offers, educational resources, coaching and networking.
Several top companies vow to hire a total of 1 million Black people over 10 years (NBC News)
A new book discusses not just why, but how the U.S. should pay reparations to Black Americans (Washington Post) – Discussion of “From Here to Equality” with William A. Darity Jr. and A. Kirsten Mullen.
How to Hold Your Company Accountable to Its Promise of Racial Justice (Harvard Business Review) — Many companies expressed their solidarity with the Black community and the Black Lives Matter movement after the killing of George Floyd. Here’s how to hold them accountable.
More US churches are committing to racism-linked reparations (AP)
Decades after her mom’s pot conviction, a daughter fights for marijuana reparations in N.J. (NBC News)
U.S. cities and states are discussing reparations for Black Americans. Here’s what’s key. (Washington Post)
A huge wealth gap makes economic recovery harder for Black Americans (Marketplace.org)
The Black-White Wealth Gap Left Black Households More Vulnerable (The Hamilton Project) – The latest data on the wealth gap between Black and White households.
Closing the racial wealth gap requires heavy, progressive taxation of wealth (Brookings)
Boston’s Greenwood Challenge, named after ‘Black Wall Street,’ surpasses $1M goal (Boston Business Journal) — Six months after launching a philanthropic fund to help close the racial wealth gap in Greater Boston, the Black Economic Council of Massachusetts (BECMA) has raised $1.5 million
How you can help dismantle America’s economic apartheid (Triangle Business Journal) — Whatever success Black professionals enjoy comes despite the fact that most white Americans practice a kind of economic apartheid.
Google honours Sir W Arthur Lewis: All you need to know about the economist (Business Standard)
Cecilia Rouse on Track to be First Black Chair of Council of Economic Advisers: “The Safety Net Has Frayed (Ms. Magazine)
Biden economic team faces challenge in delivering help to Black communities (The Hill)
Straight up Econ / The Economy
The U.S. Child-Care Crisis Is Torturing Parents and the Economy (Bloomberg)
The original paper from Brooking is here. “The devaluation of assets in black neighborhoods: The case of residential property” (Brookings)
Are Home Prices in Black Neighborhoods Underpriced? (The Street) – Readers debate Andre Perry’s contention that Black Neighborhoods are underpriced by $156 billion. Most argue the market is always right and Black neighborhoods are crime infested without considering discrimination.
Noted Black Conservative Economist, Opponent of ‘the Welfare State’, Prof. Walter E. Williams Dead at 84 (CBN News)
Squire, a barbershop tech startup, triples its valuation to $250M in latest round (Tech Crunch) – We are wonder how much of the company they still control?
Serving Black and Latinx Communities, Banking Platform Greenwood Continues Upward Arc (ADWeek)
Startup Spotlight: Katika makes the connection to Black-owned businesses (Philadelphia Business Journal) — App and online marketplace connects consumers with Black-owned businesses, with ultimate aim to see Philly become a Black Silicon Valley.
Finance / Investing / Venture Capital
Black Americans donate a higher share of their wealth than Whites (Washington Post) — Despite lower net worth, Black Americans have a culture of charitable giving. They are philanthropists investing in their communities.
Commercial lending push at Black-owned banks gets results (American Banker) – Black banks are doing more commercial and industrial (C&I) loans.
Advocates Urge NJ Lawmakers to End Racial and Economic Bias in Auto Insurance Rate Setting (Insider NJ)
Atlanta Hawks become first sports team to secure financing from Black-owned banks (The Atlanta Voice)
Black-owned banks band together to finance pro sports facility (American Banker)
Black women and Latina entrepreneurs get less than 1% of venture capital (Chicago Sun Times)
Real Estate / Finance / Development / Housing / Segregation
Black Millennials Responsible For Increase In African American Homeownership (BET)
Thousands of languishing vacant and abandoned properties with unpaid taxes harm Black neighborhoods and suburbs. Cook County treasurer says program aimed at fixing the problem is not working. (Chicago Tribune)
How To Make The Housing Market More Equitable (Wall Street Journal). Homes in Black neighborhoods are underpriced by about $156 billion.
Black Millennials fueled a surprising 2020 home-buying surge for African Americans (CNN Business) — Cohort of Black adults between the ages of 26 and 39 spark a nationwide rise in the overall home ownership rate for African Americans.
City Council approves Philly construction tax and changes to property tax abatement in busy year-end session (The Philadelphia Inquirer). This legislation is aimed at protecting Black and brown workers in the service industry.
Cities / Urban Planning / Local Government
Philadelphia City Council approves pandemic-era ‘Black Workers Matter’ protections (The Philadelphia Inquirer). Created to promote job security.
‘Black is back’: A new grassroots effort aims to revitalize north St. Louis (St. Louis Today) – Great long article.
Politics / Government / State and Local
Biden Cancelling Student Loans Could Close The Racial Wealth Gap (Forbes)
Georgia’s political revolution: Who will lead the new Black capital of America? (The Hill)
Biden-Harris Administration Commits to Ensure Government Spending with Black and Minority-Owned Media Businesses (Milwaukee Courier)
HR / Personnel / Human Capital
How to build a more diverse, inclusive technology team (Fast Company) – Sort of an advertorial from capital one credit cards. Capital one is the largest issuer of credit card to Black people in the US.
How Madam C.J. Walker Built Racial Equity into Her Business (Harvard Business Review) — Walker built her venture, the Madam C.J. Walker Manufacturing Company, during the turn-of-the-twentieth century Jim Crow era and used it to lift up Black women amid a system of sexism and racial discrimination
Education / Healthcare
College board gives $18M to address African American unemployment in Ill. (23 WIFR)
Connecticut is 1st state to require high school courses on Black and Latino studies (News 19)
A wave of Black students takes presidencies at top-tier universities (NBC News)
A New York businessman donated a $1 million art collection to Morehouse College (CNN)
JPMorgan Chase awards $1 million to Delaware State University for Advancing Black Pathways initiative (WMDT.com)
Pandemic is leaving students of color behind, creating long-term impact on their earnings and health (CNBC)
Student loan cancellation ‘is a matter of racial and economic justice,’ Democratic Congresswoman Ayanna Pressley argues (Yahoo Finance)
Farming / Agriculture
Tall Grass Food Box Project Helps Black Farmers Struggling During The Pandemic (NPR)
Rehab / Re-entry / Corrections / Police
Activists criticize level of funding for Pittsburgh Police Department in 2021 budget proposal (Pennsylvania Capital Star) – Links to police budget in Pittsburgh
Career / Professions / Entrepreneurship / Businesses You Can Start
Black Girl Ventures CEO on how to start a business: ‘Revenue is your validator’ (Yahoo Finance) — Shelly Bell launched Black Girl Ventures in 2016 to help minority women find capital to launch their businesses.
People / Motivation / Leadership / Success Stories / Ideas
2020 Women Who Mean Business honoree: Brit Fitzpatrick (Cincinnati Business Journal) – Black women are the fastest growing group of entrepreneurs in the country.
Maurice Davis couldn’t find a book with Black entrepreneurs. So he wrote one (The Gazette) — Maurice Davis wanted a book about entrepreneurship with characters looking like his 3- and 4-year-old sisters. So he made one.
Person of the Year: Aurora James (Retail Drive) — As retailers fretted about how to take action on systemic racism while people took to the streets for Black Lives Matter, a designer clarified things for them.
How brand strategist Ty Edwards is helping Black-owned businesses become global brands (Face2Face Africa) — An African-American branding expert with 17 years of experience in the field is chipping in to assist Black-owned businesses taking off.
Canela Lopez: It’s Time for Non-Black Latinx People to Talk About Anti-Blackness in Our Own Communities (Eur Web) — As the fastest-growing ethnic group in the US, Latinx people, in particular, must acknowledge the legacy of anti-Blackness in our communities, says Canela López (Read More Here)
With Grand Opening, ‘Communion’ Ushers In Community, Family, And Food For All (South Seattle Emerald) — a shimmering gold ribbon was cut, marking the opening of Communion Restaurant & Bar.
Caribbean / Africa / International
Black, Female-Owned Enterprise Flourish with Pragma’s Backing (Mining Weekly) — Mettle Petroleum has grown from a small business employing only four in 2017 to a company delivering projects over R2.5milion with 17 employees to date.
First black business hub launched in Liverpool as combined authority announces £200,000 fund for racial equality projects (Business Live) – Fund looks to identify and tackle barriers that negatively impact on the economic position of Black, Asian and Minority (BAME) communities.
Ottawa claims diversity is our strength. So why is it being sued by Black civil servants? (Globe & Mail)
Travel / History
International Black Business Museum press release (IBBM)
Visit Philadelphia Launches Initiative for Black- & Brown-Owned Businesses (Black PR Wire)
How Black-Owned Record Stores Helped Create Community (JSTOR Daily) – Black-owned record stores formed a consumer culture in which African Americans found respect, community, and a vibrant public life.
‘Separate approaches for seeking Black reparations don’t have to further divide us’ (The Atlantic Voice)
Opinion: Marijuana legalization may get a big push next year if only for the fact that governments could really use the tax cash (MarketWatch)
International Black Business Museum Created to Honor the Genius of Black Entrepreneurs and Inventors (Send2Press Newswire)