As we fight for racial equity and building a more just society, the work becomes about ending systematic racism and supporting ways in which Black people can thrive.
Because of the society we live in, monetary success is a necessary vehicle to provide opportunity and advancement. Black people can’t have a seat at the table without having financial resources to access it.
Conversations and change need to occur throughout all industries and professions, including the entrepreneurial community. It’s crucial to not only support Black-owned businesses but also develop Black-led resources to help those business owners obtain capital, resources, and networking opportunities so they can grow and scale.
That’s why CommunityBuild Ventures continues to prioritize the development of resources for Black-led businesses, Black arts, Black leaders, and Black communities. Black business and community leaders are the engines of social change in our country—and it’s about time we provide these individuals with the fuel and resources they need to succeed.
Why Black-Led Business Resources Are Important
Black business owners face the same barriers as their professional career counterparts in the form of discrimination, exclusion, and lack of access. As a result of many systemic forces at play, the entrepreneurship rate among Black Americans is less than half of what it is for their counterparts. A 2018 report found that only 5% of self-employed people in the United States were Black.
Fueled by the lack of access to capital and resources, many Black businesses struggle and fail to get off the ground. These obstacles often lead to high failure rates among Black entrepreneurs who are starting small businesses with little or no outside financial support.
We must continue to create opportunities for Black financial success so they can have access to more resources and assets. Now is the time to help develop resources specially designed for the unique needs of Black business owners so they can access information, expertise, and capital to grow their businesses.
How You Can Help
Empowering and providing resources to help Black business owners succeed is vital. Because of the continued lack of resources, many Black business owners struggle to obtain capital. We must continue to push for more access to not only information but also make it accessible, especially to those who are most in need.
CommunityBuild Ventures is creating a network in critical areas where we believe impactful black-led business resources are needed. And we’re asking anyone who can provide advice, guidance, expertise, or connections to help Black business owners succeed to get involved and share their knowledge.
We are calling on all people who believe in equity, justice, and entrepreneurship for Black folks to join us and share resources. So if you are or know of a Black entrepreneur or investor who would be a great resource to Black business owners, follow @communitybuildventures on Instagram and tell us who to follow with a tag.
By simply sharing who you know, you can help build a network of Black business owners who will have access to the information they need and networks to generate resources.