Black Global Trust’s Post

How can we further empower Black entrepreneurs and innovators and foster economic equity? Black-owned businesses have experienced unprecedented growth in the last few years, marking a pivotal moment in the journey toward economic equity. This surge is a testament to the resilience and innovation of Black entrepreneurs. Unfortunately, Black entrepreneurs face systemic barriers, especially when accessing capital. Studies show disparities in funding compared to white entrepreneurs despite applying at higher rates. Census data compiled by Robert Fairlie, documented that Black-owned businesses opened 28% more businesses than pre-pandemic levels. According to a report by Bank of America, the U.S. generates $206 billion in annual revenue and supports 3.56 million jobs. At BIA, we are working to close the racial wealth gap. We're investing in a more prosperous and equitable future for all by supporting Black innovators and Black innovator support organizations. Join the conversation; share your thoughts! Learn more about our advocacy work at https://lnkd.in/eAMg5za6 #BlackOwnedBusinesses #EconomicEquity #BlackInnovationAlliance

Today, as we commemorate Juneteenth, we reflect on the journey toward freedom and equity. Bernard Johnson, Senior Director of Programs and Partnerships at Interise, captures the significance of #Juneteenth in advancing economic justice: "As we celebrate Juneteenth, we honor the fearlessness and tenacity of those who fought for freedom and acknowledge the ongoing struggle of the Black community for economic and social equity. At Interise, our history is profoundly linked with empowering minority-owned businesses to overcome systemic blockages to success. Founded in 2004, Interise has since transformed the economic landscape for over 10,000 businesses through our #StreetWiseMBA and #StrongBusinessSTRONGER programs, which equip historically disadvantaged entrepreneurs with the knowledge, networks, and timely resources necessary for growth and sustainability. Juneteenth marks the end of chattel slavery but also continues to spotlight the persistent disparities that Black entrepreneurs face. It powers our continued commitment to advancing economic justice and building a future where entrepreneurs can thrive without barriers." - Bernard Johnson Together let’s celebrate Juneteenth with the launch of our newest Small Business STRONGER Procurement program. Register today and share with your network: https://lnkd.in/gCuh39h8 #InteriseStrong #EconomicEquity #InclusiveEconomy

I feel like this article I wrote some years ago should be amplified today! VP Kalama Harris understands the needs of Black entrepreneurship and the challenges we face accessing capital. Let’s be the change today and vote for opportunity for all of us!

PITCH BLACK APPLICATIONS ARE OPEN! A strong entrepreneurial spirit among Black Americans has spurred the creation of untold numbers of Black owned businesses going back centuries and, at certain times in history, has resulted in thriving communities of enterprise such as the “Black Wall Street” of Tulsa, Oklahoma, and the bustling Shaw neighborhood of Washington, D.C. With the escalation of racial tensions and Jim Crow laws, these Black businesses became vulnerable to targeting and destruction. Few resources were available for Black business owners to rebuild if their businesses were damaged. “Black business ownership began to steadily decline beginning in the early 1940s and remained stagnant for several decades before an economic renaissance in the early 1980s. Black business ownership has continued its upward trajectory despite the ongoing challenges of having to continually navigate structural and instructional racism”. -Association For Enterprise Opportunity (AEO) Apply Today! #blaxfriday #everyday Blax Friday Groundswell Capital https://lnkd.in/ermpngAK

Marcus Garvey, a pioneer of black empowerment and economic independence, emphasized the importance of self-reliance and economic solidarity.  He believed that true freedom and progress for black communities could only be achieved through economic self-sufficiency and the development of black-owned businesses.  Garvey’s vision of a united black economy laid the groundwork for future generations to build wealth and create opportunities within their own communities.  His legacy continues to inspire black entrepreneurs and economic development initiatives around the world.  Visit www.zbrandingbusiness.com for a consultation or more free business tips.  #BlackEconomics #MarcusGarvey #EconomicEmpowerment #zbranding

#Juneteenth: Honoring Freedom and Empowering Black Entrepreneurs Today, Blackstar Diversified Enterprises proudly celebrates Juneteenth, a monumental day in American history that signifies the end of slavery and the beginning of a new era of freedom and opportunity. On June 19, 1865, the last enslaved African Americans in Galveston, Texas, learned of their liberation—over two years after the Emancipation Proclamation. Juneteenth opened doors for Black Americans across the South, laying the groundwork for generations of Black entrepreneurs to thrive. This historic day symbolizes not only the triumph of freedom but also the resilience and innovation of Black business owners who transformed their communities and industries. As we honor Juneteenth, we recognize the courage and determination of those who paved the way for Black enterprise and celebrate the ongoing contributions of Black entrepreneurs who continue to drive economic growth and cultural enrichment. Join us in commemorating this day with reflection, education, and support for Black-owned businesses. Together, let's celebrate freedom, uplift our communities, and champion a more equitable future for all. #Juneteenth2024 #FreedomDay #BlackstarEnterprises #BlackBusiness #EconomicEmpowerment

Did you know that this month is Black Business Month? As we celebrate the resilience, innovation, and entrepreneurship of the Black community, let's also take a moment to honor the legacy of Black Wall Street. Black Wall Street in Tulsa, Oklahoma, was a thriving hub of Black-owned businesses in the early 20th century, showcasing the economic power and unity within the community. In late spring of 1921 this community was attacked during the Tulsa Race Massacre, resulting in nearly 300 deaths and 35 city blocks of the prospering black community being burned and destroyed. Despite facing unimaginable challenges and injustices, the spirit of Black Wall Street lives on as a testament to the strength and determination of Black entrepreneurs. Let us continue to support and uplift Black-owned businesses not just this month, but every day! #blackbusinessmonth #blackwallstreet #supportblackowned #blackownedbusiness #blackbusiness #supportlocal #supportlocalbusiness #civilrightsmovement #blackhistory #equality #justice #love #hope #lifestyle #carmengayton

August is #NationalBlackBusinessMonth, a time to celebrate and support Black businesses. In honor of this, Essence highlights how some Black American entrepreneurs have fought systemic barriers by forming cooperatives. https://lnkd.in/enE-ERVF

Today, we celebrate Juneteenth, a powerful reminder of freedom and resilience. As we honor the end of slavery in the U.S., we also renew our commitment to economic equity for the communities we serve. We are proud to announce that today, NMSDC-certified MBEs Black Owned Firms generate $66.5B in annual revenues. Let's continue to strive for justice and opportunities for all. If you want to learn more about other interesting facts about NMSDC-certified MBEs Black Owned Firms, download the Economic Report at https://hubs.li/Q02BrH3L0 #Juneteenth #EconomicEquity #JusticeForAll #EconomicImpactReport #NMSDC

🧐 Why Do Black Entrepreneurs Struggle to Secure Funding? The article "Why Black Entrepreneurs Struggle to Secure and Receive Funding and Investment" from SCORE.org sheds light on systemic barriers that hinder Black entrepreneurs from accessing necessary business funding. Key issues include: 1. **Racial Bias in Lending & Equity:** Entrenched bias in lending and VC systems continues to favor white male-led startups, with less than 1% of US VC-backed firms being Black-owned. 2. **Underrepresentation of Black Women:** Despite being highly educated and entrepreneurial, Black women-led startups received a meager 0.0006% of VC funding from 2009-2017. 3. **Wealth Disparity & Collateral Challenges:** Black entrepreneurs face a wealth gap, with median white household wealth being 20 times greater, affecting collateral availability for loans. 4. **Lack of Understanding & Opportunity Blindspots:** Investors often overlook the unique perspectives of Black entrepreneurs due to a lack of shared experiences. 5. **Heightened Risk-Aversion:** A diverse investment landscape is lacking, leading to perceived higher risks for Black-led businesses. The article argues for comprehensive policy changes that consider social and economic inequities to level the playing field for minority-owned firms. What steps can we take as a community to support Black entrepreneurs and ensure equitable access to funding? Share your thoughts! 🗨️ Read the full article to dive deeper into these systemic challenges and potential solutions. 📖👇