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)

Black Business and Economic Stories for the Week of November 9th to 15th 2020

This was a light week for stories, probably due to the election. A couple of real estate and mortgage stories and that’s it.

Top Stories

  • Post-protest boom for Black-owned businesses loses steam (Colorado Springs Independent)
  • The Impact Of Covid-19 On Black And Latino Small Businesses (Forbes). Areas with higher concentrations of Black-owned businesses were not well served by PPP in comparison to others.
  • Chan Zuckerberg Initiative faces racial discrimination allegations from former employee (Tech Crunch)
  • Record Low Mortgage Rates Widen Historic U.S. Economic Divides (Bloomberg). The homeownership rate among Black Americans was 46% as of Sept. 30, compared with 67.4% for all U.S. households and 75.8% for White people.
  • The racial wealth gap in real estate is growing. Here are 3 ways housing has been harder for Black Americans in 2020 (Business Insider)
  • Elayne Arrington, the first Black female engineer to graduate from University of Pittsburgh (Pitt Magazine)
  • Former San Francisco Mayor Willie L. Brown, Jr. will head new California African American Chamber of Commerce (Black Voices News)
  • Ten leading Black spirits industry executives (The Spirits Business) — Drinks firms have unveiled new programs and roles to support its Black employees, including the creation of diversity and inclusion officers.

Protest / Social Justice

Coronavirus / Covid-19 / Paycheck Protection Program

  • The Impact Of Covid-19 On Black And Latino Small Businesses (Forbes). Areas with higher concentrations of Black-owned businesses were not well served by PPP in comparison to others.
  • Researchers work to diversify clinical trials of COVID-19 vaccine (Marketplace). Nearly half of Black adults and 37% of Latinx adults said they wouldn’t take a coronavirus vaccine.
  • Flagstar Bank grants $150,000 for minority-owned small businesses in West Michigan (MiBiz) — $75,000 allocated to support Black businesses who have been hardest hit by the pandemic.
  • Chicago Businesses Struggle as COVID-19 Shutdown Appears Imminent (WTTW)

Jobs / Workers / Unemployment / Gig

  • The Federation of Black & Minority Businesses aims to bring economic change to urban community (6ABC) – The Federation of Black & Minority Businesses aims to raise awareness in the African-American community and create jobs and resources.
  • Cybersecurity industry in Detroit is growing and mentors are starting with young people (Detroit Free Press) – Detroit nonprofit helps create a pipeline to bring in more Black professionals.

Black Business General / Interesting Businesses Stories

  • Businesses Trying to Rebound After Unrest Face a Challenge: Not Enough Insurance (New York Times). Small businesses are struggling to recover from the damages caused by lootings in racial justice protests.
  • Michigan small businesses receive nearly $100M in CARES Act grants, state says (Detroit Free Press). Of the 14,000 grants, 4,617 went to businesses that reported they were minority-owned and 6,314 reported as woman-owned.
  • Shop local: Here are 5 holiday gift ideas from Black-owned businesses in Louisville (Courier Journal) – A list of Black businesses that could use support during the Holiday season
  • Post-protest boom for Black-owned businesses loses steam (CS Indy) – Communications director for the Colorado Black Chamber of Commerce says as time passed, phone calls in support of Black businesses have died down.
  • Change Today, Change Tomorrow opening store on Story Avenue (Biz Journal) – Pocket Change is a new multi-business retail space that is offering exposure to Black Businesses
  • Black Owned Maine partners with Portland Buy Local, asks shoppers to allocate 10% of spending to Black-owned businesses (New Center Maine) – The Maine Black Business Pledge asks consumers and retailers to shift focus to Black businesses
  • Why We Funded Over 50 Black-Owned Bars & Restaurants (Chicago Crusader) – Funding given in wake of systemic neglect of minority business owners.

Black Business Specific

  • 10 Black-Owned Vegan Food Ventures in Greater Phoenix (Phoenix New Times)
  • Henrico County to welcome Black-owned supermarket in east end (WRIC.Com)

Big Business / Corporate

  • BMO Commits $5 Billion to Advance Inclusive Economic Recovery in the U.S. (BMO). BMO Financial pledges $5 billion to tackle U.S. racial wealth gap (American Banker) — BMO Financial Group in Toronto is committing $5.1 billion over the next five years to advance a more inclusive economic recovery.
  • Citi has since launched Action for Racial Equality, a $1 billion initiative aimed at closing the wealth gap through investments in Black businesses (Cheddar) – Another story and link to Citibank racial equity report.
  • New Voices Foundation & JPMorgan Chase Launch Banking Bootcamp For Black Women Entrepreneurs (Essence). This partnership will help Black women entrepreneurs establish strong business banking relationships and expand their access to capital.
  • Dick’s Sporting Goods to invest $12.5 million in Black Economic Development Fund (Biz Journals) — Dick’s Sporting Goods Inc. is partnering with a long-established national nonprofit in an effort to help revolve America’s racial wealth gap.
  • Knight Foundation, Comcast NBCUniversal, Surdna Foundation invest $2M in Miami’s Center for Black Innovation (Biz Journal) — The John S. James L. Knight Foundation is investing $1.5 million in the newly formed Center for Black Innovation in Miami.
  • Target rebuilt riot-hit store with Black input (Arkansas Democrat Gazette) – Target aims to improve its image with Black customers.

Discrimination

  • Chan Zuckerberg Initiative faces racial discrimination allegations from former employee (Tech Crunch)

Reparations / Affirmative Action / Diversity / Inclusion

  • Why California Rejected Racial Preferences, Again (The Atlantic). A majority voted against repealing the state’s ban on affirmative action.
  • YBNB Magazine releases ‘Black Faces in High Places’ nomination process and poster (Kusi) — “Young Black And In Business” that has been helping entrepreneurs build their professional network for the last five years.
  • NJ business leaders: Diversity isn’t just right, it’s good for business (NJ 1015) — The New Jersey Chamber of Commerce is joining forces with the African American Chamber of Commerce of New Jersey to address economic inequities that exist for Black citizens and business owners.
  • Black Bank Fund to Invest $250 Million in Black-Owned Banks (Black Bank Fund) – Black Bank Fund looks to fund Black Banks to help close the racial wealth gap.
  • UPS to Allow Natural Black Hairstyles and Facial Hair (NY Times)
  • Vivek Ramaswamy: Affirmative action should focus on economics, not race (Fox Wilmington) — Conservative

Economics

Black Economics

  • The US is closer than ever to a $15 federal minimum wage after Biden win (CNBC)

Straight up Econ / The economy

  • Is another Progressive Era coming? (Brookings Institute). The book The Upswing by Robert Putnam and Shaylyn Romney Garrett talk about the economic and political polarization within our current economy. Biden said he’d forgive $10,000 in student debt for all borrowers. Will it actually happen? (CNBC)

Category Stories

Sports / Media / Entertainment

  • Streaming TV Service, Philo, Donates $1 Million Dollars in Ad Impressions to 20+ Black-owned Businesses and Social Justice Organizations (Philo)  — Philo’s Ad campaign to help Black businesses is featured on several TV networks.
  • “Built to Last” American Express Podcast Features Detroit Lip Bar CEO Melissa Butler (Detroit Is It) – Video podcast “Built To Last” hopes to inspire listeners to make the conscious choice to shop at Black-owned small businesses.

Alcohol / Marijuana / CBD

  • Arizona’s only Black-owned brewery launches this week. Say hello to Kitsune Brewing (AZ Central)
  • Ten leading Black spirits industry executives (The Spirits Business) — Drinks firms have unveiled new programs and roles to support its Black employees, including the creation of diversity and inclusion officers.

Beauty / Fashion / Retail

  • Black women entrepreneurs sell the medical wigs other companies won’t (Boston Globe) – Black women entrepreneurs look to address lack of curly and kinky wigs
  • The Business of Blackfishing (BOF) – Appearing Black or racially ambiguous has become brand-building exercise for white influencers.

Technology / Apps / Innovation

  • Black Entrepreneur Creates App to Help Film Police Brutality and Alert Family Members (Urban Trendsetters)

Finance / Investing

  • Flagstar Bank Commits $1 Million in Grants to Local Communities for Black, Indigenous and People of Color-Owned Businesses (Flagstar).
  • Black-owned banks under the Biden adminstration (American Banker).
  • Black NC funeral home owner Scarborough, Hayti historian, ‘son of Durham,’ dies at 83
  • JPMorgan and the New Voices Foundation launch business bootcamp for WOC (The Grio) – JP Morgan to launch business banking education program for 15 business-savvy female entrepreneurs of color.

Real Estate / Housing / Segregation

  • Record Low Mortgage Rates Widen Historic U.S. Economic Divides (Bloomberg). The homeownership rate among Black Americans was 46% as of Sept. 30, compared with 67.4% for all U.S. households and 75.8% for White people.
  • The racial wealth gap in real estate is growing. Here are 3 ways housing has been harder for Black Americans in 2020 (Business Insider)

Cities / Urban Planning / Local Government

  • 1921 Commission Receives $1 Million Grant from Bank of America for Greenwood Rising (The Black Wall Street). This art history will tell the story of the original “Black Wall Street”.
  • Disinvested: How Government And Private Industry Let The Main Street Of A Black Neighborhood Crumble (Block Club Chicago)

Politics / Government / State and Local

  • Black Americans Largely Rebuked Trump’s Overtures, Helped Lift Biden (Wall Street Journal)
  • Biden Video Uses Artist’s Vision to Project a Unified Country (New York Times). Lorraine O’Grady’s concept of placing people inside frames to promote images of an inclusive, diverse America.
  • US Black Lives Matter leader believes Joe Biden will do the bare minimum for African Americans (News Hub). Can’t really find original source RNZ article
  • A Key Voting Issue – The Black American Economy Needs a Real Agenda Now (Affluent Blacks of Dallas)

Education / Healthcare

  • Historically Black colleges and universities are remaking American politics (Washington Post). HBCUs are important producers of Black female leaders.

People and Careers

Career / Professions / Entrepreneurship / Businesses You Can Start

  • Building wealth as a Black woman is an uphill battle, but 3 tricks have helped me save money even when my income is low (Business Insider)
  • Knight Foundation donates $2 Million for Black entrepreneurship center in Miami  (Knight Foundation)
  • Why we need to bring the entrepreneurship narrative back to small-business owners (Fast Company)

People / Motivation / Leadership / Success Stories / Ideas

  • Meet Stacey Abrams, the architect of Georgia’s political shift from ‘red’ to ‘purple’ (Business Insider)
  • The Harris Effect: Research Suggests Five Ways That The VP Could Shape Future Generations (Forbes). The “Harris effect” will lead to powerful outcomes for women of color.
  • Kamala Harris shows Black women they have the power to change the world (CNN)
  • ‘GMA’ Deals and Steals on 9 small businesses from Oprah’s favorite things list (GMA) – Oprah’s ‘favorite things’ list includes products from Black-owned businesses.
  • CobblerWorld brings back memories with childhood desserts (The Duquesne Duke) – CobblerWorld’s niche is nostalgic baked goods.
  • Shopping, anyone? Pop-up marketplace to showcase 15 businesses owned by Black women (Click2Houston) – Showcase aims to keep Black dollars within the community.
  • Do you own a Virginia small business? This certification could benefit your bottom line (Progress-Index) – November 20 webinar looks to spotlight woman and minority businesses
  • All the gifts under $50 from Oprah’s Favorite Things list (Business Insider) – Oprah’s yearly list highlights Black-owned businesses.
  • Elayne Arrington, the first Black female engineer to graduate from University of Pittsburgh (Pitt Magazine)
  • Former San Francisco Mayor Willie L. Brown, Jr. will head new California African American Chamber of Commerce (Black Voices News)

Good News

  • Black-owned business vandalized, now ready to reopen after overwhelming support (Fox 26 News) – Strong support system allows vandalized Black business to rebuild.

All Other

Conservative / Alternative

  • 4 Policies Joe Biden Must Rethink if He Actually Wants to Address Racial Disparities (FEE)

Opinion

  • Commentary: Democrats need Black voters in Georgia to seize real power — and Stacey Abrams could deliver (Chicago Tribune)

SBA Paycheck Protection Program Loan Level Data

Paycheck Protection Program Loan Level Data

North American Industry Classification System Files

This PPP data is an amazing snap shot of business in the US.


I see four quick trends without doing a lot of deep analysis.


1. They were handing out money left and right. The shoveled out $4.4 billion in NJ in three months. It looks like anyone who applied for money got money.  

2. The number of self-identified Asian businesses is huge in NJ. Black businesses are minuscule and the number of Hispanic business is small.

3. I looked at my town, Teaneck, and a lot of doctors and doctors offices applied and got money.  In Teaneck, only one Black business got any money.  A barber ship got $25,000.

4. There were a lot of restaurants and beauty salons on the list

5. It’s not clear how many jobs were saved because of self-reporting data inaccuracies.


It also really shows how poorly Black people have done in terms of starting businesses. I looked at the list and we are pretty pitiful. 


The data is dominated by unclassified (white) businesses but some self-identify.  

Editor’s Note: To make the analysis easy, you have to assume people self-identify (or don’t) at a consistant ratio. In other words, people who don’t self report can be split by the same ratios as people who do self report.

The number of Asian businesses in NJ is amazing.  We are probably number # behind CA and NY. 


You will need the NAICS code description to see what the business actually does.