Black entrepreneurs play a valuable role in the U.S. economy, with 161,031 Black-owned employer businesses generating $183.3 billion in annual revenue, according to the most recent estimates from the U.S. Census Bureau. However, black entrepreneurs in the United States remain underrepresented and less likely to receive funding from financial institutions than their white counterparts.
One way to address the opportunity gap is to ensure that Black business owners have access to specific guidance and funding opportunities. Here are 22 agencies, news outlets, programs and organizations dedicated to supporting Black entrepreneurs.
[Read more: 17+ Black-Owned Small Business Directories]
black companies
Black Enterprise is a digital outlet covering business, investing, and wealth building topics for Black entrepreneurs and professionals. The medium also hosts networking events and podcasts such as “Your Money, Your Life.” We will also be partnering with Nationwide to feature Black-owned businesses during Black Business Month (August).
black girl ventures
Black Girl Ventures (BGV) was founded to support Black and Brown female-identifying founders by providing access to community, funding, and training. Every year, BGV hosts a “Shark Tank”-style pitch competition exclusively for Black/Brown women founders, and to date, she has funded over 450 women of color. The organization also offers fellowships, digital communities, and accelerator programs for students at historically black colleges and universities.
black business association
Founded in 1970, the Los Angeles-based Black Business Association (BBA) advocates for policies that increase access to contracting and procurement opportunities in both the public and private sectors. This nonprofit organization has been providing networking, training, and more to its members for years.
black connect
To help close the racial wealth gap faced by many Black communities, Black Connect, a national nonprofit organization, connects current and aspiring Black business owners with an entrepreneurial ecosystem. It offers. Open to entrepreneurs, small businesses, nonprofits, and even student members, membership offers a wide range of support and services, including funding, mentorship, free legal services, financial planning, events, and more. Those interested can join one of Black Connect's chapters (available in Atlanta, New York, Tampa, Florida, or Tulsa, Oklahoma) or apply to start a local chapter in their community.
black founder
Founded in 2011, the organization Black Founders aims to support Black entrepreneurs by providing mentorship and access to capital. Black Founders differentiates itself from other organizations by focusing on technology entrepreneurship, as Black entrepreneurs have historically been underrepresented in the venture capital-backed technology startup world. Over the past few years, Black Founders has also worked to build community by hosting networking events and hackathons.
Black-owned business directory
Several websites and organizations have launched Black-owned business directories, including resource-rich sites like Blax, Official Black Wall Street, We Buy Black, and Support Black Owned. These sites make it easy to search by city or state, allowing consumers to find Black-owned auto services, beauty suppliers, fitness centers, restaurants, professional services, and more. Additionally, there are locally focused directories that focus on specific regions of the United States, such as Brooklyn, Kansas City, New York, and Seattle.
black people owned everything
Black Owned Everything takes a more modern approach to the idea of a Black-owned business directory by curating photos and products from Black-owned businesses via their popular Instagram accounts. Businesses looking to get noticed can sign up for this service, allowing them to promote their Instagram photos to a wider audience for free. Zelina Akers, a renowned costume designer and founder of the directory, told CFDA that thousands of brands have requested to be listed.
black business alliance
The Connecticut-based Black Business Alliance (BBA) works with Black business owners across the state and nation to promote and grow small and medium-sized Black and minority businesses. Since 2014, BBA has worked with her more than 600 business owners and professionals to provide them with economic development, business workshops, networking opportunities, and access to capital. BBA also maintains a business directory of Black-owned businesses based in Connecticut.
Coalition to Support Black Businesses
The Black Business Support Coalition, led by American Express, the U.S. Chamber of Commerce Foundation, the National Negro Chamber of Commerce, the National Business League, the U.S. Negro Chamber of Commerce, and Walker's Legacy, has provided more than $14 million to more than 1,400 small businesses. provides subsidies. business. In addition to funding, the coalition has provided mentorship, training, and resources to help Black-owned businesses scale and thrive.
Democratizing Friends and Family Round Grants
Women entrepreneurs of color, especially Black and Latina women founders, have long faced funding barriers. This lack of access extends to “friends and family” in early stage funding rounds. Racial wealth disparities make entrepreneurs of color dependent on networks that they don't always have access to. In 2022, Project Entrepreneur and Hello Her Alice began democratizing Friends and Family Round grants to level the playing field. Grant recipients will receive both funding and guidance to reach their next growth milestone.
The SBA's 8(a) program was created to “provide a level playing field for small businesses owned by socially and economically disadvantaged people.”
Let's raise it together
Elevate Together supports small businesses owned by Black and Hispanic employees and works to address the systemic disparities these groups have historically faced in business growth. This nonprofit initiative provides business education, access to professional networks, and financial assistance (including grants, in-kind contributions, and nontraditional financing sources) to Black and Hispanic small business owners.
[Read more: 10 Business Success Tips from Black Entrepreneurs]
Break time for small businesses
LegalZoom is partnering with the NBA, WNBA, and NBA G League on the Fast Break for Small Business Grants to improve fair access to financing and legal services, especially for Black-owned small businesses. It has started. Each grant recipient will be eligible to receive a $10,000 grant, plus up to $500 worth of products and services from LegalZoom.
JPMorgan Chase goes down a black road
The Advancing Black Pathways initiative by JPMorgan Chase will provide funding, technical support and pathways to Black businesses, with an initial commitment of $30 billion by the end of 2025. Some of the funding will be set aside for things like mortgages and affordable housing, but so far the company has provided $15,000 in small business loans to Black, Hispanic and Latino minority-owned financial institutions. and $100 million to community development financial institutions.
Minority Business Development Agency
The Minority Business Development Agency (MBDA), part of the U.S. Department of Commerce, has long been an important supporter of Black-owned businesses by providing guidance on how to obtain financing, compete for contracts, and prepare products for export. I have fulfilled my role. MBDA Business Centers are located in cities across the United States with large numbers of minority-owned businesses.
National Black MBA Association
The National Black MBA Association (NBMBAA) is the largest network of Black professionals, with more than 11,000 members, 40 local chapters, and more than 300 partners in the corporate, academic, and nonprofit sectors. Membership benefits include access to professional development and certifications, virtual and in-person events (including the Scale Up Pitch Challenge), and access to the NBMBAA Career Success Network.
National Minority Supplier Development Council
The National Minority Supplier Development Council (NMSDC), the premier certification body for minority-owned businesses, helps connect Black-owned businesses to more opportunities and partnerships. NMSDC helps match more than 15,000 certified minority-owned businesses with large companies looking to increase supplier diversity.
National Urban League
The National Urban League, a civil rights and urban advocacy organization founded in 1910, has 92 affiliates serving 300 communities across the country. The organization provides a variety of services to assist those in need, including services focused on supporting minority entrepreneurs who operate their businesses as sole proprietors. The National Urban League's Entrepreneurship Center Program (ECP) has affiliates in 13 cities, including Atlanta, Chicago, Houston, Los Angeles, and Philadelphia. In 2021 alone, ECP served more than 29,000 participants and provided more than $119 million in funding and contract opportunities.
Sage Invest in Progress Grant Program
BOSS Network and Sage have partnered to launch the Sage Invest in Progress Grant Program, the first grant from the BOSS Impact Fund. Starting in 2024, the three-year grant program will invest $1.5 million in Black women-owned for-profit business founders with demonstrated financial needs.
Score
The largest network of its kind in the United States, SCORE is a nonprofit organization dedicated to supporting small businesses through mentorship and education. Black entrepreneurs can connect with an experienced SCORE mentor to receive free business advice and take advantage of her SCORE articles and resources on Black entrepreneurship.
shea moisture foundation
Black-founded beauty brand SheaMoisture has committed to investing $1 million annually in direct funding through the SheaMoisture Fund. The fund targets several grants targeting Black-owned businesses, including The Next Black Millionaires, Brown Girl Jane, The Blueprint Grant, and SheaMoisture Community Impact Grant.
[Read more: 13 Funding Options for Black-Owned Businesses]
U.S. Small Business Administration (SBA) 8(a) Business Development Program
The SBA's 8(a) program was created to level the playing field for small businesses owned by entrepreneurs from historically disadvantaged groups. Under the program's guidelines, businesses that are at least 51 percent black-owned can compete for lucrative government set-aside contracts and receive assistance and training in the federal contract process. To participate in this program, businesses must first become certified by the SBA.
black chambers usa
The United States Black Chamber of Commerce (USBC) serves as an umbrella organization working to support more than 145 African American chambers of commerce and business organizations in the United States. While USBC operates on a national level, local African American Chambers of Commerce promote and champion Black-owned businesses. Highlight Black-owned businesses with informative original content, including business directories, educational webinars, podcasts, and more.
This article was originally written by Sean Ludwig and Emily Heaslip.
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