It’s no longer a choice but an obligation to take the current economic state of our community into consideration. We need to be aware of the influence of our purchasing power and support the policies that influence the expansion of the local economy. We should not rely on the government or corporate entities to bring about change in our communities.
Founders First CDC (Founders First), a 501(c)3 non-profit that empowers expansion and job creation in diverse founder-led, revenue-generating businesses, announced its 2023 Kitty Fund. The $25,000 fund provides eligible small businesses throughout the United States an opportunity to receive a $1,000 microgrant.
JPMorgan Chase is helping to drive sustainable changes through its five-year $30 billion racial equity commitment. With a business-led approach, this commitment aims to help address key drivers of the racial wealth divide in Black, Latino and Hispanic communities by investing in them directly.
The Entrepreneur Educational Center, Inc. (EECI) announced, “Mission accomplished,” after wrapping up its final business plan development seminar in a series at Roosevelt Park in Los Angeles.
New resources are available for small businesses in the Vernon-Central and surrounding South L.A. community, as the Southeast Los Angeles BusinessSource Center celebrated its grand opening on May 31.
Many small businesses, particularly those founded by Black and Brown people, are often unaware of the expansive resources, including grants, loans, angel investors and venture capitalists, available within the community that are ripe for the picking.
Careers in the “blue” or ocean economy will become more accessible for South Los Angeles residents, thanks to collaboration between the Entrepreneur Educational Center Inc. (EECI) and AltaSea at the Port of Los Angeles.
Although many officials have called for a ‘return to normal’, millions of small businesses and communities need something new instead. In Black America especially, the ‘old normal’ never delivered equitable access to wealth-building opportunities as those that well-served served much of White America. Instead, a lengthy history of public policies designed to create and sustain a burgeoning middle class systemically excluded Blacks and other people of color.
The program is part of the Los Angeles County Initiative for Inclusive Small Business to address the historical barriers that have limited access to entrepreneurial opportunities for business owners of color
Andre Perry, a Brookings Institution fellow, told the Times that some of the surge in Black business registrations could be a signal of personal economic trouble. “This is more about survival than it is about wealth creation. There’s lots of people who have lost their jobs and lost their businesses. People are starting to realize that side hustles are businesses,” Perry said.
California lawmakers have approved Assembly Bill (AB) 80 legislation spearheaded by Assemblymember Autumn Burke (D-Inglewood). The legislation will give a $6.2 billion tax cut to small businesses across the state that received loans under the federal government’s Paycheck Protection Program (PPP).
With the theme, “Black Business Challenges Responsibilities and Opportunities Amidst COVID-19 Pandemic,” Black Press publishers, readers, viewers, sponsors, partners, and anyone else tuning in were enlightened about overcoming adversities on many levels. “We will have informative workshops,” promised Pluria Marshall Jr., the NNPAF Chair and CEO of Marshall Broadcasting Group. Marshall and his colleagues delivered.
The American Rescue Plan will “devote $1 trillion toward building a bridge to economic recovery for working families, including those who work for small businesses; and provide critical support to communities that are struggling in the wake of the pandemic.”
“Protect your children and your grandchildren, protect those who you come in contact with,” Congressman Clyburn stated during the annual National Newspaper Publishers Association Fund’s (NNPAF) Black Press Week. “Take the shot. It’s safe to do,” the congressman declared during an interview with Real Times Media President and CEO Hiram Jackson.
Although a New Year has begun, many American consumers and small businesses continue to feel a financial hangover from the challenges of 2020. As the global pandemic reveals a still-soaring American infection rate, the nation has also surpassed 350,000 related deaths, added more workers to the ranks of unemployed, and growing debts place millions more in financial crisis.