Black Business and Economic Stories for November 23rd to 29th 2020

We have an average number of stories this week. The best one is another high tech discrimination story by the NY Times focused on Coinbase: the crypto trading company. So tired of reading the same story with a different company name and different Black employees.

Top Stories

  • Inside Black Workers’ Struggles at the King of Crypto Start-Ups (NY Times) – Workers allege discrimination at Coinbase, a large crypto-currency company. If you like well written stories about discrimination in macho/bro culture tech companies, read on.
  • Minority-Owned Alabama Business Receives Over $10.5 Million to Develop PPE Equipment, Creating Over 300 Jobs in Dallas County (Alabama News Network)
  • Why Black-Owned Businesses Struggle To Get Small Business Loans (Forbes)
  • “This wasn’t really a plan.” Black-owned business offers fresh produce while supporting hard-hit farmers (Madison 365) – Kingsley Gobourne leverage his sales experience to help out struggling farmers.
  • Initiative launches to support Black-owned CPG businesses (Food Business News) — Nine firms are partnering to launch The Empower Project to support Black-owned businesses in the consumer packaged goods industry.
  • Macy’s, America’s Largest Department Store, Takes Aurora James’ 15 Percent Pledge to Boost Black Businesses (Footwear News)
  • Would canceling $10,000 in student debt really help that much? (Marketplace). 1 in 5 Americans with student loan debt are Black.
  • Home Lending to Communities of Color in California (Greenlining Institute). Non-bank lenders are more likely to make home loans to low-income borrowers than traditional banks.
  • How Business Schools Can Help Corporate America Fight Racism (Harvard Business Review) — Few make the connection between management programs and the lack of representation of Black executives.
  • Gabrielle Union and celebrity hairstylist Larry Sims talk all things ‘Lift As We Climb’ initiative (Amsterdam News) — “Lift As We Climb,” is an initiative to uplift Black businesses and organizations, of which nearly half have closed due to effects from the coronavirus pandemic.
  • Nine Black women you should know in data science (BuiltIn)
  • History of Blacks in Computer Science (Washington University Libraries)

Stories

Protest / Social Justice

  • Black-led organizations fighting for racial justice, equity receive grants worth almost $300K (Koco News 5 ABC)

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

  • Minority-Owned Alabama Business Receives Over $10.5 Million to Develop PPE Equipment, Creating Over 300 Jobs in Dallas County (Alabama News Network)
  • Charlotte Black Businesses in Peril (WFAE) — Black-owned restaurants are especially hard hit by pandemic, given the restrictions on capacity during the coronavirus.
  • All I want for the holidays is small business relief (Bangor Daily News) — COVID’s outsized impact on Maine’s Black community exacerbated by a legacy of racist lending practices have made Black-owned businesses especially vulnerable.

Inequality / Systemic Racism / Economic Justice

  • Redefine Black Friday When You Shop These Small Black-Owned Businesses on Etsy (Popsugar) – Shop from black creatives on Etsy and make the most of this holiday season.
  • How Business Schools Can Help Corporate America Fight Racism (Harvard Business Review) — Few make the connection between management programs and the lack of representation of Black executives.

Black Business

Black Business General / Interesting Businesses Stories

  • Why Black-Owned Businesses Struggle To Get Small Business Loans (Forbes)
  • How to shop at Black-owned businesses over the holidays (CBS News)
  • This Black Friday, consumers urged to shop at Black-owned businesses (CBS News)
  • Minnesota woman is showcasing Black-owned businesses through new endeavor (FOX 9 KMSP)
  • Peoria joins #BlackShopFriday campaign to promote black-owned businesses (CI Proud) – Peoria’s support of Black Shop Friday includes list of list of black-owned businesses made by Discover Peoria.
  • Black Business Friday: ‘It’s more than just shopping for your family and friends (Guardian)
  • MN Black Box: Minnesota woman is showcasing Black-owned businesses through new endeavor (Fox 9) —  Jessica Winnie is creating custom boxes that feature products from more than 50 Minnesota-based, Black-owned businesses.
  • #BuyBlackFriday and support Black-owned businesses (The Loop) — The online movement aims to encourage people to support Black-owned businesses every Friday.
  • Black business directory Green Book of Tampa Bay has quadrupled in size since launching in late 2019 (Creative Loafing Tampa Bay)
  • “This wasn’t really a plan.” Black-owned business offers fresh produce while supporting hard-hit farmers (Madison 365) – Kingsley Gobourne leverage his sales experience to help out struggling farmers.
  • Center for Black Innovation secures $2M investment (The Business Journals)
  • Mayor Encourages Chicagoans to ‘Shop Black Owned’ on Black Friday (NBC Chicago) — Mayor Lightfoot is asking residents to “shop Black” on Black Friday and throughout the holiday season.
  • Shop Black Friday Website
  • A Gift Guide Featuring Black-Owned Businesses, for Those Who Like to Pamper (New York Times) – Gift ideas that can help support Black-Owned Businesses.
  • AT&T, City of Buffalo aid black businesses this holiday season in ‘Buy Black Buffalo Week’ (Niagara)
  • Westport native helps start Facebook #BuyBlack campaign (Westport News) – Remi Ray and colleagues came up with the idea of a virtual event to support Black-owned businesses.
  • Black Business Friday: ‘It’s more than just shopping for your family and friends’ (The Guardian) —  Black entrepreneurs are bringing new meaning to the busiest shopping day of the year
  • 20 Black-Owned Businesses That Will Have Something for Everyone on Your Holiday Shopping List (TIME) – Black-owned businesses that you can support not only this holiday season but also in the months to come.
  • Grant shines light on Black-owned businesses (Oak Park) – Grant provides further boost after black-owned business already received PPP.
  • Initiative launches to support Black-owned CPG businesses (Food Business News) — Nine firms are partnering to launch The Empower Project to support Black-owned businesses in the consumer packaged goods industry.
  • Black-owned businesses featured as part of Downtown holiday festivities (Pittsburgh Post-Gazette)

Black Business Specific

  • Brother Jeff’s Cultural Center Provides Pies To Those In Need While Supporting Black-Owned Businesses (CBS Denver) — Brother Jeff’s Cultural Center is on a mission to keep Black chefs and bakers employed during the pandemic and provide food for people in need.
  • North Philly non-profit transforms office space to help Black-owned businesses (ABC News 6) – Philadelphia
  • Black-Run Nonprofit Wants To Fund 50-Year Plan To Combat Systemic Racism In Ohio (WOSU Radio).
  • Baltimore restaurant owner launches incubator for Black micro businesses (Marketplace)

Big Business / Corporate

  • Macy’s Joins 15% Pledge to Carry More Black-Owned Brands (Bloomberg)
  • Macy’s, America’s Largest Department Store, Takes Aurora James’ 15 Percent Pledge to Boost Black Businesses (Footwear News)
  • Comcast RISE Awards Over 700 Black-Owned, Small Businesses with Marketing and Technology Resources and Makeovers (Argus Press) — Comcast RISE to partner with small businesses and give them access to tools to help them survive the pandemic and thrive.

Discrimination / Racism

Economics

Black Economics

  • Black Saturday aims to boost hard-hit local businesses (WRDW) – Middleton created Black Saturday event with hopes to boost sales exponentially.

Straight up Econ / The Economy

  • Closing the Gaps: Building Black Wealth through Homeownership (Urban Institute)
  • Financial inequalities between different ethnic groups revealed (MSN). Data from PA Media, hard to really find.

Industry Stories

Sports / Media / Entertainment

  • Google and Wyclef Jean team up to help Black-owned businesses get through the holidays (CNN)
  • If You Aren’t Buying Black This Holiday Season, Gabrielle Union Wants To Know What You’re Even Doing (Refinery 29)

Alcohol / Marijuana / CBD

  • COURVOISIER Cognac Partners with National Urban League to Support Black Small Business Owners and Entrepreneurs (BevNet) – Wonder how much money Courvoisier in the Black community.  No we are not going say, “Pass…”
  • What Black Calder, Michigan’s first Black-owned brewery, truly means for craft beer (Detroit Free Press) — Michigan gets its first fully Black-owned brewery, a significant but much-needed milestone for a state with more than 350 operating breweries as of 2019.
  • First Black-owned Michigan brewery launches inaugural IPA (Grand Rapids Business Journal) — Black Calder Brewing Company
  • Swisher Partners With University of North Florida to Support Underrepresented Entrepreneurs (Chain Store Decisions) – Yes, that Swisher.  Swisher sweets cigars and blunts. Creepy.

Beauty / Fashion / Retail

  • Online Holiday Market Highlights Black Women–Owned Businesses(JCK) – Black owned jewelry companies.
  • Your Guide to Gifting Black-Owned Brands at Every Price Point (WhoWhatWear)

Technology / Apps / Innovation

  • Black Businesses Receive Tech Industry Push Ahead Of Holiday Shopping Bonanza (Forbes) – Facebook, TikTok, and Google are some of the tech giants to support black businesses.

Finance / Investing / Venture Capital

  • As Venture Capital Overlooks Women Entrepreneurs, They Find New Sources of Finance (Triple Pundit)
  • Shaq Moves Into SPACs With Former Disney Execs & MLK Jr.’s Son (Forbes)

Real Estate / Finance / Development / Housing / Segregation

  • Home Lending to Communities of Color in California (Greenlining Institute). Non-bank lenders are more likely to make home loans to low-income borrowers than traditional banks.
  • Working from Home Could More Widely Benefit Black Renters Seeking Homeownership (Zillow). Black renters are 29% more likely than other renters to potentially be able to move and buy a first home because of the rise in telework.

Cities / Urban Planning / Local Government

Politics / Government / State and Local

  • Republicans Rewrite an Old Playbook on Disenfranchising Black Americans (New York Times)
  • Joe Biden Cabinet picks: Running list of the president-elect’s nominees (Chicago Tribune). Linda Thomas-Greenfield is Biden’s nominee for Ambassador to the United Nations. 

Law / Legal / Non-profits / Philanthropy / Non-Profit

  • New fund for Black Oregonians faces mounting legal pressure (OPB) — Created in July to help people impacted by COVID-19, the Oregon Cares Fund now faces two federal lawsuits

Education / Healthcare

  • Would canceling $10,000 in student debt really help that much? (Marketplace). 1 in 5 Americans with student loan debt are Black.
  • Prodded by Racial Reckoning, Colleges Aim To Increase Minority Contracting. Will They Succeed? (WGBH.Org)
  • North Carolina Central and Duke Partner to Bolster Black-Owned Startups (Indy Week) – Hey gang let’s put on a pitch competition.
  • HubSpot and Howard University partner for Center of Digital Business (Marketing Technology Today) – Hubspot is a marketing technology company supporting marketing, sales, and service automation.  

Science / Math / Statistics / STEM

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Virtual holiday marketplace brings local Black women entrepreneurs together ‘for the culture’ (The Business Journals)
  • Swisher, UNF partner on program for underrepresented entrepreneurs (The Business Journals)
  • Black men make up less than 3% of physicians. That requires immediate action, say leaders in academic medicine. (AAMC)

People / Motivation / Leadership / Success Stories / Ideas

  • How Do I Start? Elizabeth Takyi Speaks To The Need For Incubating Entrepreneurialism (Forbes)
  • Gabrielle Union and celebrity hairstylist Larry Sims talk all things ‘Lift As We Climb’ initiative (Amsterdam News) — “Lift As We Climb,” is an initiative to uplift Black businesses and organizations, of which nearly half have closed due to effects from the coronavirus pandemic
  • If You Aren’t Buying Black This Holiday Season, Gabrielle Union Wants To Know What You’re Even Doing (Refinery 29) – Gabrielle Union wants to garner support for Black-owned businesses during the holidays.
  • Raw honey business (Fox 5) — Kam and Summer Johnson run their beekeeping and honey business from their home in a bucolic neighborhood in Hunterdon County, New Jersey.
  • Melvin Jones, Publisher of Memphis Black Business Directory, Passes Away (Tennessee Tribune) — Melvin Jones, publisher of the Memphis Black Business Directory and executive director of the Memphis Business Contracting Consortium died Nov. 15

Good News

  • Colorado Small Business Owner Featured In Oprah’s List Of Favorite Things (CBS Denver) — A Denver Black-owned business was named one of Oprah’s favorite things this holiday season.
  • Black Girls Surf (Hawaii Business Magazine) – What it says.  Inspirational.

In Passing

  • David Dinkins, New York City’s first and only Black mayor, has died at the age of 93 (Business Insider)
  • Remembering Melvin Jones: A tireless advocate for the Memphis Black business community (Memphis Business Journal)

All Other

Caribbean / Africa / International

  • Federal Government Launches Black Entrepreneurship Program (Hedy Fry) – Member of Parliament, Vancouver, Canada
  • Government of Canada empowering Black Canadian communities (Government of Canada) – Crazy the CA government announce a program to support Black business and does not trigger a racial backlash.

Travel / History

  • The Black innovators who elevated the United States: Reassessing the Golden Age of Invention  (Brookings). In the North, Black people’s share of patents equaled their share of population at 1.6%.

Opinion

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