Edward-Elmhurst Health’s Post

Continuing efforts to support DFW’s business community As the #Dallas-Fort Worth metroplex continues to be one of the fastest growing #regions in the nation, the need for more business support services and advocacy has followed suit. And with the metroplex’s recognition of being one of the nation’s top places for minority-owned businesses and #startups, business organizations, like chambers of commerce, are working tirelessly to provide the support needed. Invest: spoke with some of the #leaders of these #chambers about all they are doing to support DFW’s minority-owned business community. READ MORE: https://lnkd.in/emdpTZ2u

Black Ambition is a nonprofit founded by Pharrell Williams that offers funding and mentorship to Black and Hispanic entrepreneurs. The mission of the nonprofit is to address the lack of capital for startups among Black and Hispanic communities. Since Black Ambition’s inception, it has awarded an estimated $10 million combined to more than 100 companies. The nonprofit has mentored over 750 entrepreneurs, including some from HBCUs, and firms it has funded have raised nearly $100 million in venture capital. By 2030, Williams says the figure should reach $1 billion. “We need real change,” Williams tells Forbes. “We can’t keep waiting. Our parents and their parents — for them, equality was No. 1. And for us, equality is absolutely on the list, but equity is more powerful than equality.” Learn more: https://lnkd.in/gUpJSshj #Entrepreneurship #Nonprofits #Equity #Equality #FundingforEntrepreneurs #HBCUs #BlackCommunity #HispanicCommunity

This happened...leaders from business support groups in Rhode Island launched the Business Empowerment Alliance of Rhode Island (BEARI). BEARI is a dynamic coalition comprised of various business support groups united by a shared purpose. At the heart of BEARI's mission is empowering underserved and women-owned businesses. Our alliance is a beacon of support, fostering an inclusive environment where businesses, mainly those historically underrepresented, can thrive and reach new heights of success. Together, we amplify opportunities, provide valuable resources, and champion the resilience and innovation inherent in every entrepreneur. Additionally, we've witnessed an impressive surge in Black businesses in Rhode Island, experiencing a remarkable 27% growth from last year. Now, here's the real talk: The state needs to step up its game. We're urging an investment of $10 million annually for the next 10 years to scale minority businesses. Rhode Island Black Business Association | RIBBA and our partners are relentless in our advocacy for robust investment because women, Black, and brown firms deserve the support they need to flourish. Guess what? Investing in business growth isn't just about financial success; it's a ripple effect transforming communities. Expect a decrease in housing insecurity, reduced student absenteeism, improved education outcomes, narrowed health disparities, increased tax revenues, and a boost to the state's economy. Job growth becomes a powerful tool, actively combating high unemployment in communities that need it most. The impact is profound when we invest not just in business but in the holistic well-being of our communities. https://lnkd.in/gCUEdg2G The coalition is made up of eight members: Rhode Island Black Business Association | RIBBA , Hope & Main, Social Enterprise Greenhouse, Center for Southeast Asians - CSEA, RHODE ISLAND HISPANIC CHAMBER OF COMMERCE, RI Small Business Development Center, Center for Women & Enterprise, Fuerza Laboral #BEARI #BusinessEmpowerment #InclusiveBusiness #RhodeIslandEntrepreneur #BusinessGrowth #CommunityTransformation #InvestInChange.

Thanks, Milt Capps! Friends, one of my great privileges in 2023 has been to support rockstars Shani Dowell and Emily Freitag (along with my partner in crime, Em E. Wilder, at the Nashville Entrepreneur Center) to raise funds to provide non-dilutive capital infusions to early stage ventures led by founders of color. Data show that founders of color more often face disproportionate barriers to entrepreneurship, such as the "Friends and Family" capital gap. As I've seen up close, an early ~$10,000 investment can make all the difference between taking flight and folding. Re:Generate seeks to significantly mitigate this and help our entrepreneur ecosystem flourish for everyone. If you're looking for a grassroots, noble cause to support as 2023 comes to close, the Re:Generate Fund is a great one! (You can give at https://www.ec.co/donate/ by selecting Re:Generate!)

In #strategicdoing, we talk about #networks being formed around a hub of some kind. This is a very interesting example: a network forming around a piece of public art (and of course the ideas behind that). What other unusual "hubs" have you encountered?

This highlights an essential conversation about the unique motivations and experiences of Black entrepreneurs. The distinction drawn between the motivations of Black business owners and their counterparts underscores a profound commitment to community and generational wealth. It is crucial to consider how the venture capital pathway might not align with the foundational goals of these businesses. This reflection invites a broader discussion on alternative support mechanisms that honor and facilitate the true purpose of Black-founded businesses: to furnish immediate and sustainable benefits for their families and their communities. That means the stakes are higher, and the pain associated with failure is much greater. For those like myself who are invested in the success of these businesses, it is essential that we consider the weight of this reality.

In case you haven't had the chance to read it yet, here is a reminder that our Founder and CEO has a published interview with Alexa Peters at MBE Magazine, where she discussed her path to entrepreneurship, taking chances when opportunity arises, and her personal journey from public affairs to social impact. Read the full article at the following link: https://bit.ly/3qUTCRk

Several Five Points and Westwood Small Businesses Awarded nearly $300,000 in Grants "The Community Business Preservation program, a statewide program that provides grants to small businesses has given funds to several local staples in the Five Points and Westwood area. “When I heard about the grant, I thought it was perfect for Five Points because the goal of the grant is to preserve history, preserve community, preserve culture. It was meant to support businesses that are at risk of displacement,” said Benilda Samuels, the executive director of AYA Foundation. “And well, very few places in the country have had more displacement than Five Points.” To read more, visit https://lnkd.in/gGfiw7Zk . . . . . #Denver #AYAFoundation #Entrepreneurship #Networking #BlackExcellence #BlackAchievements #BlackCommunity #BlackCulture #Melanated #BlackEmpowerment #BlackEconomics #BlackWealth #BlackWealthMatters #BlackDollarsMatter #BlackEntrepreneurship #BlackOwnedBusiness #BlackBusiness #BlackLeaders #BlackConciousness #Goals #SmallBusiness #BlackBusinessInitiative .

A while back, our angel advisor Ralph H Groce III shared a powerful video of Don Peebles accepting the Business Icon Award from theGrio in 2022. This video has stayed with me, and I find myself recalling it constantly. His speech is not only impactful in its truth but also in his impassioned delivery. Watch here: https://lnkd.in/eRd-tKas   "The pillars of our democracy rest upon capitalism. If it's unfair, then our nation cannot endure. We know that the pathway to wealth runs through entrepreneurship and the fuel to run the motors of business is capital…   Today there is over $82T invested in venture capital and private equity. Of that $82T, less than 1.3% of it is invested in firms run and owned by women and people of color combined. What that means is 98.7% of all venture capital money, $81T dollars out of $82T is provided to white men. Yet white men represent only 31% of America's population. Women represent 51% of America. Black Americans are 13% of America. Thus, you have 54% of the population receiving less than 1.3% of the investment capital."   During his acceptance speech, Don issues a call to action:   "I ask all of you to join me in speaking out about economic exclusion of our people…if we all do it together, we can change America."   Most people are unaware of these facts. They do not realize the extreme inequity of funding to entrepreneurs or how it impacts them personally. As I often emphasize, this is an everybody problem. Without appropriate and equitable funding, the world will miss out on life-changing innovations, and our economy will forego trillions in growth (Morgan Stanley).    Venture funding has consistently been one of the most inequitably distributed resources in our country, persisting since the industry's inception. Any gains experienced by women and minority founders in the wake of George Floyd's murder or COVID-19 diversity commitments have been eviscerated in the past two years. I implore you to do two things:   1. Watch Don's speech. It only takes 6 minutes. (link at the top) 2. Heed his call to action and discuss funding inequity in any relevant context. This knowledge is jarring and illogical, so it sticks with people once they learn. Simply raising awareness makes you a changemaker. #funding #fundraising #investing #equity #startups #venturecapital #entrepreneurship #capital #capitalism #democracy #diversityintech #economicinclusion #changemakers

This is an unacceptable reality. Get informed & be the change. Here's a direct link to Don's speech: https://lnkd.in/euF4sJ6N