DiversityPlus Magazine’s Post

Check out The State of Black Business, our new report with 12 unique insights on Black-owned businesses. Despite challenges, Black entrepreneurship is growing. We want to support Black businessowners this National Small Business Month in May and onward. https://lnkd.in/dr-xUG4c

Embodiment of T A K E U P S P A C E! Even if no one else got us. WE got us. Get into rooms where you are celebrated and not “tolerated”. You are NOT a “Diversity hire”. Black women entrepreneurs 💥 Are the most self funded 💥 Carry the highest business debt 💥 Are least likely to reach “maturity” aka 5-year mark in business I KNOW this is hard. Doing it alone makes it even harder. Please find and occupy rooms where other Black women can teach, mentor, guide, fund and nurture you. You’ve got Squad & #weallwin #blackwomeninbusiness #blackwomenentrepreneurs

Taraji Cries - Our Call To Action As Black Female Entrepreneurs! Uniting in shared tears, the resilience of one -- the great Taraji P. Henson -- represents the strength of many. In the ever-evolving landscape of entrepreneurship, the challenges faced by individual founders are formidable. However, for Black female entrepreneurs, the journey is even more difficult. As the cast of the much-anticipated production of The Color Purple embarked on their recent promotional tour, it was actress Taraji P. Henson's powerful words that resonated deeply with Black America, particularly Black women. "I'm just tired of working so hard, being gracious at what I do, getting paid a fraction of the cost. I'm tired of hearing my sisters say the same thing over and over. You get tired. I hear people go, 'You work a lot.' I have to. The math ain't mathing," Henson said. Henson even questioned whether she should retire from acting because of these persistent issues of pay inequity, the constant battle to prove one's worth, and the pervasive gaslighting she's experienced. As her Sirius XM interview made rounds on social media, most of the comments by Black women echoed Henson's frustration -- and not just Black women working in the entertainment industry. Henson's words reverberate across various sectors, including in entrepreneurship, where many women of color feel frustrated and unheard. #entrepreneur #blackentrepreneurs #femaleentrepreneurs https://lnkd.in/d4chV8zm

In honor of Women's History Month, I am sharing this article by Green America on Black Entrepreneurship and how it builds sustainable and inclusive companies. Learn about Margaret Nyamumbo, founder, of Kahawa 1893 Coffee and my business kubé Nice Cream. We discuss how we lead with conscious leadership, growing sustainable and inclusive companies, that we grow on our own terms, and that build social impact. Conscious leadership restores life, health, Joy, dignity, integrity, and equity back to people, animals, and the soil. '"Investing in wholesome ingredients is just as important as investing in people and community for Nortey. In 2023, Nortey hired formerly incarcerated mothers and survivors of domestic violence to make the ice cream, paying $22 an hour....Social impact looks like giving people economic opportunities for them to thrive,” says Nortey. Such opportunities are incredibly valuable to the more than 1 million people employed by Black-owned small businesses."'

What does it mean to be a boss? Answer: A LOT. In an age where highlight reels have replaced the hard knocks of life, we’re taking an opportunity this #WomensHistoryMonth to give you the real on what it means to be a Black woman bossing up. Black Woman Owned and CNK Daily are teaming up with Blaze Group to tap into the real data and give you a glimpse at what Black women entrepreneurs are facing as they build big business. From a data set collected from 110 Black women-identifying entrepreneurs, the 2023 ‘State of Black Women-Owned Business Report ®’ compiled by Blaze, is a real look at what it takes to be a Black woman building from the ground up. Every day this month, we’ll be spitting facts and sharing stories from our own entrepreneurial journeys.  The goal here is simple: share resources, links, data, and insights so that we can create equitable solutions in this lifetime. Clink the link to download the report here: https://lnkd.in/e5VqGGbw

In the world of business, we've heard the saying, "If you build it, they will come," suggesting that creating something exceptional will naturally attract attention. However, my experience underscores the reality that success is not solely about what you offer but equally about who you know. While delivering a quality product or service is indispensable, establishing and nurturing professional relationships plays a pivotal role. The phrase "it's not what you know, but who you know" rings true, emphasizing the importance of networking in unlocking opportunities and gaining valuable insights. Striking a balance between expertise and cultivating a robust network is key for sustained success in the ever-evolving business landscape.

In honor of Black Business Month, let's dive into the complexities faced by Black entrepreneurs and the barriers they break every day. 🌟 🚧 **Breaking Barriers:** Black entrepreneurs navigate a complex web of systemic racism and discrimination, hindering their economic progress. With unique backgrounds and challenges, from historical contexts to cultural considerations, it's crucial to recognize the diversity within being Black in America. 🔗 **Racial Barriers:** Stereotypes, biases, and discrimination pose significant hurdles for Black entrepreneurs, impacting their access to capital, funding, and opportunities. Understanding and addressing these deep-rooted issues is essential for creating a more inclusive business landscape. 💼 **Ecosystem of Support:** Access to capital, networking, mentorship, education, and representation are vital for the success of Black entrepreneurs. By supporting Black-owned businesses and advocating for policies that promote equality, we can empower communities and foster a more equitable economy. 🔄 **The Ongoing Fight:** While progress has been made, the fight for equality in entrepreneurship continues. By coming together to uplift diverse Black stories, challenge norms, and support inclusive strategies, we can strive towards a future where all Black entrepreneurs thrive. Join the conversation by sharing your thoughts on the article and how we can collectively support Black entrepreneurs in their journey towards success. 💬✊ #BlackBusinessMonth #BreakingBarriers https://lnkd.in/eAPbRZ9Q

In light of the recent 2-1 ruling by the U.S. Court of Appeals for the 11th Circuit, it is imperative that we stand firm in our support of the Fearless Fund and similar organizations. The court's decision to suspend the Fearless Fund's Strivers Grant Contest—an initiative that provides essential financial resources to businesses majority-owned by Black women—highlights the ongoing challenges faced by marginalized, underrepresented and under resourced entrepreneurs. We must continue to champion the efforts of the Fearless Fund and advocate for equitable opportunities for all entrepreneurs, ensuring that economic justice and entrepreneurial spirit flourish in every community. The BIJC Board of Directors stands united in this. "In an era where economic disparities persist, the work of organizations like the Fearless Fund is crucial in leveling the playing field for Black entrepreneurs. By providing much-needed resources and support, these organizations are not only fostering innovation but also ensuring that the entrepreneurial spirit thrives in every community. Black in Jewelry Coalition stands firmly in support of the Fearless Fund and similar initiatives that champion diversity, equity, and inclusion in the business world. As Chairman of the Board of Black in Jewelry Coalition, as a Black female founder and entrepreneur myself, I understand the importance of organizations like the Fearless Fund, and believe in the work they are doing to support entrepreneurs." Malyia [Made By Malyia] McNaughton, BIJC Board President. Check out the article for the full story: https://lnkd.in/emAmwv87

August marks National Black Business Month and Black women-owned businesses have been celebrating with a rise in presence, revenue, and development opportunities amidst ongoing infrastructure challenges, research shows. Black female entrepreneurs have dominated the business climate, representing roughly 2.1 million businesses and 52.1% of all Black-owned enterprises, according to a 2024 Wells Fargo Study. As the fastest-growing group of entrepreneurs, Black women have worked to shape culture and create spaces for diversity to prosper, with business methods rooted in increasing representation, access to capital, education and reducing the racial wealth gap. #JanitriInternational #WomenLeadership https://lnkd.in/d39YVuF9

This article from Fast Company strikes a familiar chord, explaining that the American dream of business ownership seems frustratingly out of reach for many Black Americans. It details how they face significantly lower approval rates from banks and lenders than white-owned businesses. I applaud the work of the Business for Good program, featured in this piece, who is working to help level the playing field for Black entrepreneurs. #WealthGap