168极速赛车开奖官网 black business Archives - The Cincinnati Herald https://thecincinnatiherald.newspackstaging.com/tag/black-business/ The Herald is Cincinnati and Southwest Ohio's leading source for Black news, offering health, entertainment, politics, sports, community and breaking news Tue, 18 Mar 2025 14:49:29 +0000 en-US hourly 1 https://thecincinnatiherald.com/wp-content/uploads/2023/05/cropped-cinciherald-high-quality-transparent-2-150x150.webp?crop=1 168极速赛车开奖官网 black business Archives - The Cincinnati Herald https://thecincinnatiherald.newspackstaging.com/tag/black-business/ 32 32 149222446 168极速赛车开奖官网 Mobile pet groomer eyes expansion following SCORE Pitch Contest https://thecincinnatiherald.com/2025/03/18/mobile-pet-grooming-business/ https://thecincinnatiherald.com/2025/03/18/mobile-pet-grooming-business/#respond Tue, 18 Mar 2025 22:00:00 +0000 https://thecincinnatiherald.com/?p=51603

By Theresa Katalinas Katalinascommunications@gmail.com Zakayla Riley had her heart set on a career in social work when the COVID-19 pandemic realigned her ambitions. “When all the groomers were shut down, I had to groom my own dog. I don’t like stinky dogs,” said Riley, a 2021 graduate of Northern Kentucky University, of Benji and Shadow, her […]

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By Theresa Katalinas 
Katalinascomm
unications@gmail.com

Zakayla Riley had her heart set on a career in social work when the COVID-19 pandemic realigned her ambitions.

“When all the groomers were shut down, I had to groom my own dog. I don’t like stinky dogs,” said Riley, a 2021 graduate of Northern Kentucky University, of Benji and Shadow, her mini and giant Schnauzers. “It came really naturally to me. I developed a stronger bond with my dogs.”

She toyed with the idea of becoming a professional dog groomer, first attending a pet grooming school through a Cincinnati-area pet store.

“I realized early on that the corporate grooming environment was very fast-paced and sometimes stressful for both the animals and the employees,” she said. “I decided to step it up but slow it down by opening my own grooming salon.”

In late 2021, she launched Pawpin’ Pawz Luxury Mobile Grooming, initially converting space in her customers’ homes into a grooming salon. In 2022 she bought a self-sufficient salon on wheels in a 6×10 trailer pulled by a Chevy Silverado. She provides curbside service to clients in Cincinnati and surrounding areas, grooming dogs in her vehicle while it’s parked in front of their homes.

Zakayla Riley grooming a dog.

Early on, she participated in the Mortar Entrepreneurship Academy and began working with SCORE Greater Cincinnati mentor Quinn Wang, who provided insight on business startup and pricing. SCORE is a national nonprofit organization that supports small businesses through free mentoring.

“He was very, very helpful in whatever it was that I needed,” Riley said. “I loved having Quinn in my back pocket. He’s still there four years later. I can pick up the phone and call him.”

Riley also took part in SCORE’s webinars and classes as well, because, as she noted, “more brains are better than one.”

Wang, who retired from SCORE two years, ago, still stays connected with his mentee.

“We have maintained contacts and met from time to time to discuss issues and challenges Zakayla may run into, or her future plans for her businesses,” Wang said. “I am always impressed with Zakayla’s drive and energy throughout the years.”

Her drive, coupled with a goal of “broadcasting” her business to a larger audience, led Riley to participate in SCORE’s 60th Anniversary Pitch Competition. She was one of 45 finalists.

More than 2,200 small businesses applied to compete in five pitch events. Contestants were pared down to 60 contenders. Participants were matched with SCORE mentors to refine their pitches, strengthen their presentations and hone their business plans.

“I’m not afraid of a little competition,” she said. “Fundraising is a top priority right now.”

Looking ahead, Riley plans to add another groomer and a second mobile grooming vehicle to her current solo operation.

“The demand is there,” Riley said. “I get a ton of inquiries and because of our current capacity, we have a growing wait list.”

On average, she sees 130 dogs every two months. Riley envisions continued growth on the horizon.

“My 10-year goal is to have at least four vans on the road,” she said. “In the long term, I want to open an indoor dog park.”

To learn more about SCORE, request a mentor, or volunteer to be one, visit score.org. Since 1964, SCORE has helped more than 17 million entrepreneurs start, grow or successfully exit a business. SCORE’s 10,000 volunteers provide free, expert mentoring, resources and education in all 50 U.S. states and territories. Visit score.org.

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168极速赛车开奖官网 Black entrepreneurs empowered to thrive despite DEI policy rollbacks https://thecincinnatiherald.com/2025/03/13/black-wealth-rebuilding/ https://thecincinnatiherald.com/2025/03/13/black-wealth-rebuilding/#respond Thu, 13 Mar 2025 14:00:00 +0000 https://thecincinnatiherald.com/?p=51184

By Taalib Saber, attorney and owner of The Saber Firm As Black History Month reminds us of our legacy of resilience and economic power, recent federal rollbacks of Diversity, Equity, and Inclusion (DEI) programs have sent shockwaves through corporate America. While these policy changes may feel like a setback, they present a unique opportunity for […]

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By Taalib Saber, attorney and owner of The Saber Firm

As Black History Month reminds us of our legacy of resilience and economic power, recent federal rollbacks of Diversity, Equity, and Inclusion (DEI) programs have sent shockwaves through corporate America. While these policy changes may feel like a setback, they present a unique opportunity for Black entrepreneurs to double down on self-sufficiency and community-driven business growth.

A Wake-Up Call for Black Business Owners

DEI initiatives have helped Black professionals access corporate contracts and funding opportunities, but many provided symbolic representation without tangible economic transformation. With these policies being dismantled, it’s time for Black business owners to rely less on institutional diversity programs and more on collaborative, community-driven economic strategies.

This isn’t a time for despair. It’s a time to reimagine economic power. When systems exclude us, we innovate. When doors close, we build new ones. From the Freedmen’s Bureau to Black Wall Street, our ancestors created success despite systemic opposition.

Turning Setbacks into Power Plays

Rather than seeing DEI rollbacks as obstacles, Black entrepreneurs should view them as catalysts for collective wealth-building. Today’s success stories prove this approach works.

Rihanna’s Fenty Beauty revolutionized the cosmetics industry by creating products for all skin tones when mainstream brands wouldn’t. By focusing first on underserved Black and brown consumers, Fenty Beauty generated $100 million in sales in its first 40 days and has grown into a billion-dollar enterprise that forced the entire beauty industry to become more inclusive.

Calendly, founded by Nigerian-American Tope Awotona, became a billion-dollar scheduling platform by solving a universal problem. Despite initial struggles to secure venture funding, Awotona bootstrapped his company until its value was undeniable, ultimately raising $350 million and reaching a $3 billion valuation.

The Fifteen Percent Pledge, founded by Aurora James, demonstrates the power of intentional economic redirection. By persuading major retailers like Sephora and Macy’s to dedicate 15% of shelf space to Black-owned brands, the initiative has shifted over $10 billion to Black businesses since 2020.

How Black Businesses Can Thrive

Leverage Group Economics: Focus on Business-to-Business (B2B) relationships within the community through strategic partnerships and shared marketing efforts. Black entrepreneurs can drive revenue by prioritizing Black-owned vendors and service providers.

Explore Alternative Capital: While government-backed DEI funding may disappear, access capital through angel investors, venture capitalists focused on minority-owned businesses, and crowdfunding. Organizations like the Black Angel Tech Fund and 1863 Ventures are specifically supporting Black entrepreneurs.

  • Master Digital Marketing: Without DEI mandates, securing contracts will be more competitive. A strong digital presence, SEO-optimized websites, social media dominance, and powerful branding are non-negotiable.
  • Own Your Intellectual Property: In entertainment, sports, and entrepreneurship, prioritize ownership through trademarks, copyrights, and business structures that prevent exploitation while ensuring generational wealth.
  • Build Industry-Specific Networks: Creating Black-led professional networks in industries like law, entertainment, and finance will ensure access to opportunities that corporate America may no longer prioritize.

Contemporary Success Through Community Power

Blavity Inc., founded by Morgan DeBaun, has built a digital media empire reaching over 30 million millennials monthly. By focusing on serving Black audiences and creators first, Blavity has expanded to include multiple brands and hosts AfroTech, the largest Black tech conference in America.

Greenwood Bank, co-founded by Ryan Glover, rapper Killer Mike, and former Atlanta Mayor Andrew Young, raised $40 million in funding before even opening its doors. Named after the prosperous “Black Wall Street” district, this digital banking platform specifically serves Black and Latino communities by reinvesting in minority businesses.

Pattern Beauty by Tracee Ellis Ross demonstrates the power of serving community needs first. By creating hair products specifically designed for Black women, the brand became profitable within days of launching and secured distribution at major retailers nationwide.

The Black Wealth Renaissance

Black history has always been marked by resilience. When access is denied, we create our own tables. By focusing on economic empowerment, ownership, and strategic partnerships within our community, we can build an ecosystem that thrives beyond political shifts.

This isn’t about segregation. It’s about elevation. It’s about ensuring Black businesses aren’t dependent on temporary policies but rooted in sustainable strategies that allow prosperity regardless of who’s in office.

We have always been our best investment. When we bet on ourselves, we win. When we invest in each other, we grow. When we circulate our dollars within our communities, we build lasting wealth.

Action Steps for Black Entrepreneurs

Identify and partner with Black-owned suppliers and vendors. Ensure your business is properly structured to protect assets. Develop a strong online brand presence. Explore funding options that prioritize Black entrepreneurs. Join or form industry-specific Black business networks. Support Black-owned financial institutions. Advocate for policies that benefit Black entrepreneurs.

The future is ours. Our history proves that we thrive when we work together. The attack on DEI is not the end of opportunity. It’s the beginning of a new Black economic renaissance. If we seize this moment, we won’t just survive. We will thrive!

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168极速赛车开奖官网 The legacy of Black business districts across America https://thecincinnatiherald.com/2025/03/03/the-legacy-of-black-business-districts-across-america/ https://thecincinnatiherald.com/2025/03/03/the-legacy-of-black-business-districts-across-america/#respond Mon, 03 Mar 2025 15:00:00 +0000 https://thecincinnatiherald.com/?p=50193

Article Highlights: By Jazmin Goodwin “Beautiful, bustling, and Black”—that was how author, attorney, and activist Hannibal B. Johnson described Tulsa, Oklahoma’s Greenwood District in his book “Black Wall Street: From Riot to Renaissance in Tulsa’s Historic Greenwood District.” In the early 1900s, the Greenwood District flourished with over 100 Black-owned businesses, from restaurants and grocery […]

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Article Highlights:

  • Greenwood District in Tulsa, Oklahoma, thrived with over 100 Black-owned businesses in the early 1900s.
  • The Tulsa Race Massacre in 1921 destroyed Greenwood, killing up to 300 people and erasing wealth.
  • Modern Black business districts face challenges but strive to rebuild wealth through entrepreneurship and support networks.

By Jazmin Goodwin

“Beautiful, bustling, and Black”—that was how author, attorney, and activist Hannibal B. Johnson described Tulsa, Oklahoma’s Greenwood District in his book “Black Wall Street: From Riot to Renaissance in Tulsa’s Historic Greenwood District.”

In the early 1900s, the Greenwood District flourished with over 100 Black-owned businesses, from restaurants and grocery stores to hotels and hospitals. Brick office buildings lined the streets with Black doctors, lawyers, and dentists ready to serve their communities. Visitors to the area included agricultural scientist George Washington Carver, famed contralto Marian Anderson, and blues singer and pianist Dinah Washington. The district’s success represented more than just commerce; it embodied Black Americans’ resilience and ingenuity in creating economic opportunities despite the crushing restrictions of Jim Crow laws.

Greenwood’s prosperity came to a violent end in 1921 when a white mob destroyed the district in what is now known as the Tulsa Race Massacre. In just two days, their ensuing violence left 35 city blocks decimated, over 800 people injured, potentially 100 to 300 people killed (though exact figures can never be determined), and generations of accumulated wealth erased.

Unfortunately, the tragedy at Greenwood wasn’t an isolated event. The years leading up to 1921 were marked by race-related violence. As Johnson noted in his book, the United States saw 61 recorded lynchings of Black Americans in 1920; the year prior, more than 25 major race riots erupted throughout the nation in what was dubbed the Red Summer.

The devastation and its lasting impact

Today, the country continues to grapple with the aftermath of such vehement destruction. Evanston, Illinois, and Asheville, North Carolina, are among the few cities carrying out reparations projects despite opposition from the 6% and 13% of respondents who argued such programs would be too expensive or too difficult to administer, respectively, according to a poll of 1,000 people by the University of Massachusetts Amherst and Boston TV station WCVB.

Though Greenwood residents reconstructed with astonishing speed after the massacre, their efforts were continually stymied—not just by violence but by policies that deprived these areas of further opportunities. “The 1921 Tulsa Race Massacre temporarily stilled the economic engines that revved on Black Wall Street. That said, the community quickly rebounded and rebuilt, peaking economically in the 1940s,” Johnson told Stacker in an email. “In the 1960s and subsequent decades, structural factors like integration and urban renewal precipitated a second decline.”

The 2024 ruling denying reparations to the last survivors of the massacre serves as a sobering reminder that the consequences of this destruction continue to reverberate through time, contributing to today’s racial wealth gap.

The legacy of Black business districts across America

Though perhaps the most widely known, Tulsa’s story was not unique.

“Wherever you had large Black populations concentrated because of segregation, you had these enterprising African Americans who sprouted up to provide every need possible,” Dr. Shennette Garrett-Scott, author of “Banking on Freedom: Black Women in U.S. Finance Before the New Deal” and associate professor of history and Africana studies at Tulane University, told Stacker.

Across America, Black entrepreneurs established thriving business districts that faced similar threats from racial violence and discriminatory policies.

From Richmond’s Jackson Ward—known as “the cradle of Black capitalism”—to Detroit’s Paradise Valley, Chicago’s Bronzeville, and Atlanta’s Sweet Auburn, across America, Black entrepreneurs established communities with flourishing enterprises that stood as beacons of economic promise and prosperity.

Stacker used Census data and other sources to explore the untold history of lesser-known Black Wall Streets across the U.S. and how present-day Black business districts strive to rebuild wealth and opportunity in the current economic landscape.

You may also like: AI art is facing a copyright problem. Here’s what it means for creators.

Two National Guardsmen escort a Black man after the East St. Louis massacre.
Bettmann // Getty Images

The winding path to economic freedom

The roots of Black entrepreneurship run deep in American soil. The entrepreneurial spirit of Black Americans can be traced as early as the 17th century, according to the Federal Reserve Bank of Richmond. Even while enslaved, Black Americans would barter and trade their surplus production with other people who were enslaved—though most profits went to their enslavers. Some with managerial duties even sold their skills and services to others. Once freed, Black Americans continued this tradition of engaging in businesses that used the skills valued by white enslavers, including catering and personal services such as tailoring and hair care.

In the decades following the Civil War, Black Americans faced a paradox: newly freed but systematically excluded from mainstream economic opportunities.

“These were enterprising, ambitious people who were trying to get their part, their piece of the American dream, who were just as enthralled with American free enterprise as their white counterparts,” Garrett-Scott said. “Through their enterprise, they were able to carve out a space within the limitations—the limited options that they were given.”

Overcoming systemic barriers

This exclusion, though devastating, sparked a wave of Black entrepreneurship across the country. According to the Negro Year Book of 1914-1915, Black business ownership grew from virtually zero in 1863 to over 40,000 enterprises by 1913, while Black homeownership rose from near zero to over 500,000 properties in the same period. This growth occurred despite the implementation of restrictive “Black codes” that required white sponsors for Black business licenses and Jim Crow laws that systematically segregated commerce.

These communities developed sophisticated financial networks, with Black-owned banks providing crucial capital to entrepreneurs routinely denied loans by white-owned institutions. “What made these Black business districts thrive wasn’t just Black people supporting Black businesses; it was also Black-owned financial networks, Black banks, and Black insurance companies that provided the capital when white institutions refused,” said Garrett-Scott.

One of the most significant developments was the creation of Black financial institutions. Exemplifying this trend was the Grand Fountain United Order of True Reformers, founded by Rev. William Washington Browne in 1881 in Richmond, Virginia’s Jackson Ward. Beyond providing insurance and banking services, the True Reformers operated department stores, published a newspaper, maintained a home for older people, and invested in real estate across 10 Virginia cities, Washington state, Baltimore, and other locations.

Backlash and lasting impact

However, alongside these success stories came the backlash. Beyond Tulsa, Black Americans who engaged in economic activity fell victim to racial violence and intentional economic disruption. The East St. Louis Massacre of 1917, caused by white workers targeting their Black peers hired by the Aluminum Ore Company or the Elaine Massacre of Black sharecroppers seeking to unionize in 1919, marked systematic attempts to suppress Black economic independence.

“Violence plays a role in both creating Black Wall Streets and their decline,” Garrett-Scott emphasized. “There are different, varying levels and kinds of violence.” Beyond direct racial violence, Black businesses faced what Garrett-Scott calls “bureaucratic violence”—systematic exclusion from professional organizations, denial of licenses and permits, and restricted access to capital.

Discriminatory policies compounded the damage. Redlining prevented Black businesses from accessing loans and insurance, while urban renewal projects of the 1950s and 1960s often targeted Black business districts for demolition, displacing established enterprises and fragmenting communities.

“Urban renewal—ostensibly intended to eliminate urban blight—devastated Black Wall Street by displacing individuals and enterprises and gobbling up land,” said Johnson. “Wealth disparities are in large part attributable to the ability to transfer property intergenerationally. Urban renewal adversely affected that dynamic for Black folks.”

The ongoing wealth gap

The dismantling of these Black business districts has had lasting effects on economic progress for Black Americans spanning generations. According to the American Civil Liberties Union’s 2023 Visualizing the Racial Wealth Gap report, the gap in wealth between Black and white families has only grown since the 1970s. In 2018, the median white family of three earned $33,000 more than a Black family of the same size. Black homeownership rates have also stagnated, lagging behind Hispanic homeownership rates and never reaching the 50% mark in the last 10 years.

“We haven’t matched the level of economic destruction that came through those forms of violence and policy violence with the requisite level of economic investment into those communities. Each new generation can fall farther and far farther behind,” Anthony Barr, director of research and impact at the National Bankers Association, told Stacker. Barr’s research specializes in the racial wealth gap, financial wellness, and digitization.

Group portrait of the National Negro Insurance Association and The North Carolina Mutual Block on Parrish Street in Durham.
North Carolina Central University via Getty Images

Where Black Americans found success across the US

Different cities developed distinct patterns of Black business growth. Due to segregation, Richmond’s Jackson Ward transformed from a mixed neighborhood that hosted German, Italian, and Jewish immigrants to a Black business hub.

During this time, “the Deuce,” known as 2nd Street, became a cultural and economic powerhouse and the home of Hippodrome Theater, attracting performers like Nat King Cole and Cab Calloway. The district was also home to St. Luke Penny Savings Bank, founded in 1903 by the first Black American woman to charter a bank in the U.S., Maggie Lena Walker, and the Southern Aid and Insurance Company, the country’s first Black life insurance company.

Durham, North Carolina, presented a unique case. Unlike older Southern cities, Durham’s rapid growth as a tobacco town created unexpected opportunities. “My hunch is that the growth was so rapid that anybody could come here to get a job,” Perry Pike of the Historic Preservation Society of Durham told the Federal Reserve Bank of Richmond. “They couldn’t afford to discriminate in the way that other southern cities did.” Durham was also believed to be more progressive than other communities.

“White allyship helped facilitate Black business success in Durham, both in terms of relative racial progressivism and capital investment,” said Johnson.

Education and economic growth

This relative openness enabled the rise of North Carolina Mutual Life Insurance Company—the nation’s largest Black-owned insurer at the time—and Mechanics and Farmers Bank. Andre Vann, a North Carolina Central University historian, also noted Durham fostered unusually progressive Black-white business relationships, with white capitalists often working through Black-owned banks to invest in Black communities.

Washington D.C.’s evolution tells yet another story. The city’s Shaw neighborhood, particularly along U Street, emerged as a crucial hub after Black businessmen were forced out of downtown. By 1910, Shaw hosted over 200 Black-owned businesses, with the True Reformers’ five-story building on 12th and U streets symbolizing the community’s ambitions. The neighborhood’s growth was closely tied to Howard University, reinforcing the power of education in economic mobility. The area’s growth paralleled the expansion of Howard University, creating a symbiotic relationship between education and enterprise that became a model for other cities.

Barr notes modern Black business hubs can learn from these historical examples. “It’s not just about creating new wealth; it’s about supporting jobs, which is about supporting families,” he said. “It’s about increasing tax revenue, which is about being able to have more money available for public services and quality schools and infrastructure maintenance.”

A chart showing how Black economic hubs are thriving in the Southern United States.
Stacker

Collective economics: Building Black business districts today

Today’s landscape shows both progress and persistent challenges. Census data reveals that while Black Americans represented about 12% of the population, they owned just 2.4% of American small businesses in 2020. However, data suggests that Black-owned businesses thrive in Southern states. Hinesville, Georgia, leads with 18.2% of companies being Black-owned despite its population only being slightly above 35,000. On the other hand, Atlanta, a larger city with more than 500,000 residents, maintains a strong presence, with 13,766 Black-owned businesses representing 11.3% of all enterprises.

Cities like Memphis, Tennessee, also have a notable presence of Black businesses. The city, which hosts more than 600,000 residents, has a Black population comprising 48.8% of residents, and Black-owned companies comprise 9.3% of all enterprises.

The resurgence of modern Black business districts in these cities is driven by strong entrepreneurial ecosystems supporting emerging and established businesses. From local policies to entrepreneur networks, dedicated efforts are shaping sustainable ecosystems that empower Black entrepreneurs and fuel long-term success.

Building sustainable entrepreneurial ecosystems

Today, this philosophy is embodied in the work of Atlanta’s Dr. Lakeysha Hallmon, founder of The Village Market and author of “No One Is Self-Made: Build Your Village to Flourish in Business and Life.” Hallmon launched The Village Market as a deliberate economic engine for Black-owned businesses. Since 2016, the model has served more than 1,440 businesses in 38 states and four countries, including the Bahamas. It has resulted in $8.8 million in direct sales to Black-owned enterprises and $800,000 in grants.

“The key for all of us is intentionality—whether through funding, mentorship, visibility, or policy changes, we must build ecosystems that not only provide opportunities but also advocate for long-term structural change in how Black businesses are supported and sustained. By working together, we can shift the narrative from survival to sustained success,” Hallmon told Stacker in an email.

Mandy Bowman, founder and CEO of Official Black Wall Street, represents another example of the power of buying and supporting Black entrepreneurs. Bowman created Official Black Wall Street to connect Black businesses with consumers nationwide. Inspired by the history of Tulsa’s Greenwood District, Bowman launched her platform to ensure Black businesses received sustained visibility and consumer support.

The power of social and economic networks

Ryan Wilson is the founder and CEO of The Gathering Spot, a private membership network designed to foster collaboration among Black professionals, entrepreneurs, and creatives. He underscores the importance of community spaces providing social and financial capital to help businesses thrive. “We have to have places where you’re able to connect with the entire ecosystem. So, yes, business owners, but also the accountants, the lawyers, the people that can support your products,” Wilson told Stacker.

Wilson emphasizes that business is ultimately built on relationships, and access to the right networks is often as crucial as access to funding. “At the end of the day, social capital is going to be required in order to facilitate financial capital and then ultimately close the wealth gap. People have to know one another before they do business with one another,” Wilson said.

“Buying Black” has long been a powerful concept and driver of social capital in the fight for economic independence and wealth-building within Black communities. Johnson describes this tradition as “supporting Black-owned enterprises, entrepreneurs, and professionals; investing in our own community; and ownership—equity.” Historically, Black business districts like Greenwood in Tulsa, Sweet Auburn in Atlanta, and Jackson Ward in Richmond were thriving because of “collective economics,” or “economic cooperation” to support Black-owned businesses, ensuring that wealth circulated within Black communities.

And just as in centuries past with Black business districts, educational institutions like historically Black colleges and universities continue to be an economic mobilizer for Black entrepreneurship.

In Atlanta, the Center for Black Entrepreneurship aims to help bridge the wealth gap for Black communities through its programming and funding opportunities that serve Atlanta University Center students—which include Spelman College, Morehouse College, Morehouse School of Medicine, and Clark Atlanta University—and Black business owners. The center, bolstered by $10 million in funding from Bank of America, also provides a research program to find solutions for the unique challenges Black entrepreneurs face.

Challenges in accessing capital

Access to capital remains a significant barrier for Black entrepreneurs. According to the Federal Reserve’s 2022 Small Business Credit Survey, Black-owned firms are twice as likely to be denied business loans as white-owned firms. The Census Bureau’s 2022 Annual Business Survey also found that Black-owned firms were less likely to receive the full financing they sought than white-owned firms. Specifically, fewer than 2 in 5 (38.4%) Black-owned firms received all the funding they applied for, while 3 in 5 (62.3%) white-owned firms experienced the same outcome.

The venture capital landscape reflects similar disparities. In 2023, Black-founded startups in the U.S. received approximately $661 million in venture capital funding, representing just 0.48% of the total $136 billion allocated that year and 1.4% of total U.S. venture funding, TechCrunch reported. This marks a substantial decline from 2021, when Black founders secured nearly $5 billion, according to Crunchbase. The downturn of financing is more pronounced in certain regions. For instance, in Atlanta, Crunchbase reported investments in Black-owned startups dropped from $467 million in 2021 to just $23 million in 2023. However, some VC firms, such as the Atlanta-based Collab Capital, provide access to capital and strategic guidance to Black entrepreneurs and founders.

Broader economic disparities compound the financial challenges faced by Black entrepreneurs. A 2023 Pew Research Center survey found that 3 in 5 (64%) Black adults rate their personal financial situation as only fair or poor, and more than half experience at least one economic worry daily or almost daily. Despite these obstacles, entrepreneurship remains a key aspiration within Black communities; the same survey revealed that 22% of Black adults consider owning a business essential to their personal definition of financial success.

The Black Wall Street mindset and the future

These disparities underscore Black entrepreneurs’ systemic and historical barriers to securing necessary funding for their businesses and achieving financial success.

While the challenges remain significant, today’s Black entrepreneurs are building on their predecessors’ legacy of resilience and innovation, working to close the racial wealth gap one business at a time.

“Black Wall Street clubs have sprung up all across the country,” Johnson said. “They reflect what I call ‘the Black Wall Street mindset,’ the mental framework built on the historical example of the Black trailblazers from Tulsa’s historic Greenwood District who displayed extraordinary vision, determination, and resilience in the face of seemingly insurmountable odds. Leveraging this powerful past, the Black Wall Street mindset says, essentially: ‘They did. I can. I will.'”

Story editing by Carren Jao. Copy editing by Paris Close.

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168极速赛车开奖官网 Small Business Spotlight: Pour Mobile Wine Bar https://thecincinnatiherald.com/2023/04/21/small-business-spotlight-pour-mobile-wine-bar/ https://thecincinnatiherald.com/2023/04/21/small-business-spotlight-pour-mobile-wine-bar/#respond Fri, 21 Apr 2023 17:00:00 +0000 https://thecincinnatiherald.com/?p=17411

By Morgan Angelique Owens, Chief Creative Beauty Consultant Name: Zonieke Alston-Betts Title: CEO Business Name: Pour Mobile Wine Bar Social Media Handles: @Pourmobilewine bar on Facebook and Instagram @pourmobilewine on Twitter Website: pourmobilewinebar.com What made you start your business? My bestie and I attended an entrepreneur conference in L.A. and we were very intrigued by […]

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By Morgan Angelique Owens,

Chief Creative Beauty Consultant

Name: Zonieke Alston-Betts

Title: CEO

Business Name: Pour Mobile Wine Bar

Social Media Handles: @Pourmobilewine bar on Facebook and Instagram

@pourmobilewine on Twitter

Website: pourmobilewinebar.com

What made you start your business?

My bestie and I attended an entrepreneur conference in L.A. and we were very intrigued by all of the mobile businesses.  Long story short, she came up with the idea to start a mobile wine bar and we agreed to work together in different cities! 

Let us know about your new beauty product launch?

My new candle line will launch April 15 with some sexy new scents that everyone is sure to get excited about! 

How does it empower you as a Black Woman in the Beauty Field?

I simply do what I love and that’s to be authentic and true to who I am.  I create my own lane and I work hard to be different and unique.

Zonieke Alston-Betts. Photo provided

What are 3 of your favorite beauty items you can’t live without?

I’m a scent girl and I love scents!  My three beauty faves are Peony & Blush Suede by Jo Malone, Dermalogica multi active toner, an I cannot survive the day without my PBS UV Shield 30 Sunscreen by Skin by Brownlee & Co

Anything else our beauty readers should know about you?

I am somewhat of an introvert, but my business has forced me to network and be more social.  I’m very laid back and I enjoy the simple things in life.  Yea, I hate condiments, LOL

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168极速赛车开奖官网 Greater Cincinnati Executive Business Accelerator announces 2022 graduates https://thecincinnatiherald.com/2022/12/07/greater-cincinnati-executive-business-accelerator-announces-2022-graduates/ https://thecincinnatiherald.com/2022/12/07/greater-cincinnati-executive-business-accelerator-announces-2022-graduates/#respond Wed, 07 Dec 2022 20:00:00 +0000 https://thecincinnatiherald.com/?p=15026

The Greater Cincinnati/Northern Kentucky African American Chamber of Commerce, ArtsWave, and the Collective Empowerment Group (CEG) are proud to announce ten new graduates of the 2022 class of the Greater Cincinnati Executive Business Accelerator (E.B.A.).

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Contributed by Greater Cincinnati/Northern Kentucky African American Chamber

The Greater Cincinnati/Northern Kentucky African American Chamber of Commerce, ArtsWave, and the Collective Empowerment Group (CEG) are proud to announce ten new graduates of the 2022 class of the Greater Cincinnati Executive Business Accelerator (E.B.A.).

The E.B.A. is a six-month program, founded in 2018 by the African American Chamber of Commerce and sponsored by Fifth Third Bank and the African American Chamber of Commerce, that provides small business owners with the knowledge, know-how, and networks needed to achieve scale. The comprehensive E.B.A. curriculum includes topics vital to small business success, including financial management, marketing and sales, human resources tactics, business strategy development, and access to new capital and contracts. The E.B.A. utilizes the award-winning and nationally recognized StreetWise ‘MBA’, developed by Interise.

“The African American Chamber has enjoyed sponsoring the E.B.A. for five years. This year’s class is just another example of how the E.B.A. can truly elevate businesses,” said Eric H. Kearney, President and CEO of the Greater Cincinnati & Northern Kentucky African American Chamber of Commerce.

“The E.B.A. class of 2022 is ready to take on new challenges. They are revenue growers, wealth generators, job creators and community leaders,” said Erica Garrett, E.B.A. Program Manager and Program Manager with the CEG.

“The E.B.A. helps build strong leaders. Strong leaders build a solid business community and, in turn, vibrant and resilient communities. We are deeply proud of our 2022 graduates,” said Rea Waldon, director of KDDK Legacy Group and Instructor/Facilitator of this year’s program.

The 2022 E.B.A. graduates are:

▪ Oswald Baker – Half Price Roof

▪ David Choate – Revolution Dance Theatre

▪ Epiphany Davis – Have an Epiphany

▪ Theresa Gordon – Sugar Loft Events2

▪ Fred Harrison – Fresh Coat Painters of Anderson and Loveland

▪ Caroletta James – ECO Health Care Center

▪ Crystal Render – Magnificent Morsels Catering

▪ James Stocks – DJX Construction

▪ Toilynn O’Neal Turner – Robert O’Neal Multicultural Art Center

▪ Joyce Browning Walton – Allstate

The African American Chamber’s mission is to establish, cultivate, and strengthen consumer and business relationships; provide access to major corporate markets for its members to help increase business opportunities; and assist in developing strategic partnerships and alliances for strengthening and growing the business community. To learn more visit, https://theaachamber.com/ and engage in the conversation via the African American Chamber’s social media channels @AAChamber on Twitter and African American Chamber on Facebook.

The Collective Empowerment Group is a non-profit organization whose mission is to encourage ministry in the marketplace by establishing partnerships with churches, businesses and financial institutions that impact and empower the community. Visit CEG at www.cegcincinnati.org or connect on Facebook www.facebook.com/cegcincinnati.

ArtsWave, a nonprofit serving the Greater Cincinnati and Northern Kentucky Region, is the engine for the arts. Its roots stem back to the late 1920s when the Cincinnati Taft family provided initial investment matched by community support.In the late 1940s, it evolved to become the first united arts fund in the nation and in the mid-1970s, the first organization to initiate workplace giving for the arts. ArtsWave continues to innovate while leading, as illustrated by its No. 1 rank nationally in community arts fundraising; coordination of a sector-wide Blueprint for Collective Action; piloting of new technologies to maximize arts engagement; and development of resources for the arts. For more information about ArtsWave, visit www.artswave.org.

Since 2004, Interise has taken an innovative approach to economic development in low- and moderate-income communities by helping existing small business owners plan, achieve and manage long-term growth of their business. More than 5,000 business owners across the country have completed the StreetWise ’MBA’ curriculum with extraordinary results. On average, Interise graduates create jobs at 5 times the rate of the private sector as a whole. More

information can be found at www.interise.org, on Twitter @Streetwise_MBA, on Facebook www.facebook.com/Interise, or on LinkedIn www.linkedin.com/company/interise.

For more information about the E.B.A., please visit http://executivebusinessaccelerator.interise.org/ or contact the African American Chamber of Commerce at 513-751-9900.

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168极速赛车开奖官网 Small Business Spotlight: Reamoni Relaxation https://thecincinnatiherald.com/2022/11/05/small-business-spotlight-reamoni-relaxation/ https://thecincinnatiherald.com/2022/11/05/small-business-spotlight-reamoni-relaxation/#respond Sat, 05 Nov 2022 16:00:00 +0000 https://thecincinnatiherald.com/?p=14443

My reason for opening/starting Reamoni Relaxation is simply because I LOVE helping people.

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By Morgan Angelique Owens,

Chief Creative Beauty Consultant

Name: Ashley Johnson 

Title: License Medical Massage Therapist 

Business: Reamoni Relaxation

Social Media Handles: Facebook: Reamoni

Instagram: Reamoni_22_rrr

Email: Ashley@reamoni.com

What made you start your business?

My reason for opening/starting Reamoni Relaxation is simply because I LOVE helping people. I want people to have a better day and make them feel like my touch helped in some way. What better way than becoming a massage therapist that travels to you! I can relieve them from their stressors and give them a moment in time that is cut out for just them. It’s a wonderful feeling to be a help to others!

How does it empower you as a Black Woman in the Beauty Field?

The business of Medical Massage doesn’t have many Black Woman entrepreneurs. Many women of color have chosen to work for a company that is already established. It makes me feel empowered to know that I can make a difference in my clients lives daily. Also, I can show other black women that they can step out of the shadows of the corporation and be a black woman’s driving forward to greatness just like me.

What are 3 of your favorite beauty items you can’t live without?

My 3 favorite beauty items I couldn’t live without would be my grapefruit diffuser, frankincense essential oil, and lavender aromatherapy lotion. Fruit around therapy diffuser is for the morning time. It’s uplifting, and it helps you start your day even if you haven’t had the best morning, it allows your mind to be stimulated to assist with a brighter day ahead of you. Grapefruit is a citrus oil that helps with your overall well-being, but it also helps with cellulite fluid retention and weight loss that’s the best way to start your morning.

The frankincense aromatherapy massage oil is used throughout the day when needed. It can be used to calm the mind and helps keep sickness at bay. Frankincense is an immune system booster. 

Lastly, my lavender Essential lotion helps you relax your mind for bedtime. It also assists with inflammatory issues like headaches or pain in my body. I can also use my lotion for scars as well. It helps loosen up the scar tissue around my C-section and ultimately make me feel beautiful!

Anything else our beauty readers should know about you? Getting a massage isn’t just a “Special Gift” for the holidays! Receiving massages are essential for your overall well-being. Massage can improve many facets of your life don’t believe me? Come see me!

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168极速赛车开奖官网 2022 CEG Business Excellence Awards Recognizes Local Businesses https://thecincinnatiherald.com/2022/10/11/2022-ceg-business-excellence-awards-recognizes-local-businesses/ https://thecincinnatiherald.com/2022/10/11/2022-ceg-business-excellence-awards-recognizes-local-businesses/#respond Tue, 11 Oct 2022 16:00:00 +0000 https://thecincinnatiherald.com/?p=14021

On Friday, September 16, 2022, The Collective Empowerment Group (CEG) of Metro Cincinnati presented its 2022 Business Excellence Awards Gala.

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Contributed

On Friday, September 16, 2022, The Collective Empowerment Group (CEG) of Metro Cincinnati presented its 2022 Business Excellence Awards Gala. We were sold out! As promised, it was such an exciting event. We are incredibly grateful to Fifth Third Bank as they returned as this year’s Title Investment Sponsor. Additional Sponsors include First Financial Bank, Liberty Bank, Union Savings Bank, and Guardian Savings Bank. It was an evening of highlights and recognitions of not only the small businesses but the CEG organization. The theme of the gala was “Building Business Resilience” which is a continuation of CEG’s efforts to build thriving churches and businesses which contribute to a flourishing Metro Cincinnati. During our celebration, we were able to recognize First Financial Bank as Corporation of the Year for their Engagement and the new Work Life Membership portion that was recently added to CEG. Also, we were able to celebrate New Vision United Methodist Church as CEG Member Church of the Year for their monumental efforts in doing business with not only CEG Strategic Partners but also many small businesses throughout our community.

Seven (7) small African American businesses that are a part of the CEG Strategic Partner Program were celebrated and recognized for their resilience and thriving during the 2-year period of the COVID-19 pandemic.

This year’s honorees included:

Tier 1- $3,000,000 and Above (2021 and 2020)

• Angelita Moreno Jones – Eastern Personnel

Angelita Moreno Jones. Photo provided

• Charles “Chuck” Futel, Jr. – Chuck Futel & Associates dba Primerica

Charles “Chuck” Futel, Jr. Photo provided

• Sheila Holmes Howard—SHH Realty Group LLC dba Ownerland Realty

Sheila Holmes Howard. Photo provided

Tier 2 – $1,000,000 and Above (2021 and 2020)

• JC Battle – JC Battle & Sons Funeral Home

JC Battle. Photo provided

• Anthony Dickerson – Goodies BBQ Restaurant

Anthony Dickerson. Photo provided

• Dhana Donaldson & Yvonne Brown – Tri-City Staffing Services LLC

Dhana Donaldson & Yvonne Brown. Photos provided

Tier 3 – $500,000 and Above (2021 and 2020)

• Simone Charles – Social Butterfly Events and Designs dba The Confetti Room

Simone Charles. Photo provided

• Jeremy Sibert – Clearview Construction Company LLC

Jeremy Sibert. Photo provided

The seven (7) small businesses had a total of $23,094,516.00 in sales during the specified timeframe. This is

Business Resilience!

Entertainment was provided by Mike Wad and the Mighty Groovers, Revolution Dance Theatre, and the CEG Gospel Choral led by P. Ann Everson Price. Guests were upbeat and uplifted. They were then left empowered by our incredible keynote speaker Dr. Deforest Soaries, who served as the Senior Pastor of the First Baptist Church of Lincoln Gardens in Somerset, New Jersey from November 1990 to July 2021. A pioneer of faith-based community development, Dr. Soaries has led First Baptist in the construction of a new $23 million church complex and the formation of many not-for-profit entities to serve the community surrounding the church.

During the event, CEG’s President Dr. Paul Booth Jr. along with CEG’s Bank Black Initiative Committee was joined by Executives from Liberty Bank and Trust to share their exciting announcement. Ann Duplessis, Senior Vice President of Retail Banking, Marketing & Sales, and Strategic Planning was joined by Wendy Ryce-Smith, Vice President, and Retail/Commercial Director Liberty Bank and Robert Lay, Assistant Vice President of Mortgage helped share in the announcement. Liberty Bank is the largest African American-owned bank in the country with over $1 Billion in assets under management. CEG is the convening sponsoring organization that has led this project in bringing Liberty Bank to Cincinnati. During this special announcement, Ann Duplessis and Liberty Bank Representatives also presented Collective Empowerment Group with a $15,000 Sponsorship check. At the end, State Representative Sedrick Denson then presented a proclamation to Todd McDonald for being the President of the Largest Black-Owned Bank in the Country.

Dr. Soaries has also held historic and noteworthy government positions. He served as New Jersey’s 30th Secretary of State making him the first African American male to serve as a Constitutional officer of the State. He served as a senior advisor to the governor on issues that transcended traditional departmental lines. Dr Soaries is also the former chairman of the United States Election Assistance Commission.  Dr. Soaries speech was like no other. Guest stood their feet and not only erupted in laughter throughout they were also left empowered to change.

In attendance were CEG Member Churches, Strategic Partners, as well as potential member churches and strategic partners who are looking forward to becoming members of the Collective Empowerment Group. We were grateful to have had Vice Mayor Jan Michele Lemon Kearney, Former Ohio State Senator and African American Chamber President, Eric Kearney, Kenneth Parker, 45th United States Attorney for the Southern District of Ohio, Members of the City Council, and a host of State Representatives and Judges came to join in on the experience. The night was with Dr. Soaries being presented with a Proclamation for his religious and community leadership.

Many thanks to  Event Coordinator Dhana Donaldson of MainStage Events and her events management team which includes, Program Manager Erica Garrett, Simone Charles of Social Butterfly Events,  Stage Manager Shawnise Lewis and a host of volunteers for their 

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168极速赛车开奖官网 Small Business Spotlight: Inspired Fashion https://thecincinnatiherald.com/2022/09/18/small-business-spotlight-inspired-fashion/ https://thecincinnatiherald.com/2022/09/18/small-business-spotlight-inspired-fashion/#respond Sun, 18 Sep 2022 16:00:00 +0000 https://thecincinnatiherald.com/?p=13598

When I was a little girl, I would come home from school and my mother would have a new outfit laid out on my bed. The shirt, shoes, accessories – everything. It made me feel so special and I’ve always wanted all women to feel special and beautiful.

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By Morgan Angelique Owens,

Chief Creative Beauty Consultant

Name: Catrena Bowman

Title: Owner

Business Name: Inspired Fashion

Social Media Handles: Instagram @inspiredfashion40 & @inspiredfashn40 Facebook: Inspired Fashion

Website: www.inspiredfashion40.com

Business location: 827 Madison Avenue Covington, Ky 41011 phone number 859.360.1343

What made you start your business?

When I was a little girl, I would come home from school and my mother would have a new outfit laid out on my bed. The shirt, shoes, accessories – everything. It made me feel so special and I’ve always wanted all women to feel special and beautiful. One vehicle to do that through is fashion. I love helping women find the perfect outfit and see her eyes light up! We are all beautiful in our own unique way and fashion helps to accentuate that. I decided to open a brick-and-mortar store because I wanted to create a gathering place for women. A place women can come to relax and retreat and to offer workshops around self-empowerment and of course unique, bold fashion.

How does it empower you as a Black Woman in the Beauty Field?

It reminds me to go after my dreams, no matter how big or intimidating they might be. I decided in the middle of COVID when businesses were going out of business to launch; but I knew it was my time to step out and believe in myself and what I could accomplish with the help of friends and colleagues. It’s challenging every day, but it is worth it. My hope is other black women will see what we’re doing and know they can do anything they set out to accomplish, with hard work and God on their side. They can’t lose.

What are 3 of your favorite beauty items you can’t live without?

A good bra!!! lol. Having good foundational pieces is essential to looking your best in any outfit. Keeping the girls locked and loaded brings the eye up to enhances and slenderize the waist. It helps to balance the body. 

The second item is a slingback high heel black shoe. It brings sophistication and class to every outfit and elongates the leg.

Lastly – I love nude lipstick – Mac has my favorite selection. A nude lip goes with every outfit.

Anything else our beauty readers should know about you?

We love to do individual and group style sessions. We hear from so many women that they just don’t know how to put an outfit together. We teach the basics of assembling a good outfit and we help women understand their shape and not focus on their size. Email us to schedule your style appointment today at inspiredfashion40@gmail.com.

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168极速赛车开奖官网 Small Business Spotlight: Sanity by Wen https://thecincinnatiherald.com/2022/09/07/small-business-spotlight-sanity-by-wen/ https://thecincinnatiherald.com/2022/09/07/small-business-spotlight-sanity-by-wen/#respond Wed, 07 Sep 2022 20:00:00 +0000 https://thecincinnatiherald.com/?p=13460

I was a stay-at-home mom, and I was going crazy with nothing to do for myself.  I also had a difficult time finding bracelets to fit my wrist!! These two things set me on my jewelry making path.

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Title: Wendy White, creator/owner

Business Name: Sanity by Wen

Social Media Handles: IG @sanitybywen FB @ Sanity Jewelry by Wen

Website: n/a

Wendy White, creator/owner of Sanity by Wen. Photo provided

What made you start your business?

I was a stay-at-home mom, and I was going crazy with nothing to do for myself.  I also had a difficult time finding bracelets to fit my wrist!! These two things set me on my jewelry making path. 

How does it empower you as a Black Woman in the Beauty Field?

I put a little peace, love and sanity in every creation.  The empowerment comes when the love and energy are shared between creator and customer

What are 3 of your favorite beauty items you can’t live without?  

1) lip gloss 2) hair color 

Anything else our beauty readers should know about you?

I Love to make custom jewelry!! 

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168极速赛车开奖官网 Small Business Spotlight: Love the Beaut https://thecincinnatiherald.com/2022/09/06/small-business-spotlight-love-the-beaut/ https://thecincinnatiherald.com/2022/09/06/small-business-spotlight-love-the-beaut/#respond Tue, 06 Sep 2022 14:00:00 +0000 https://thecincinnatiherald.com/?p=13410

Name: Erin Michelle Title: Founder/CEO Business Name: Love the Beaut Social Media Handles: IG: @lovethebeaut Facebook: Love the Beaut Website:https://lovethebeaut.com What made you start your business? Love the Beaut began as a blog to celebrate Black-owned beauty brands. After researching smaller businesses and using their products, it transitioned into a beauty supply shop that featured beauty and skincare products […]

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Name: Erin Michelle

Title: Founder/CEO

Business Name: Love the Beaut

Social Media Handles: IG: @lovethebeaut Facebook: Love the Beaut

Website:https://lovethebeaut.com

What made you start your business?

Love the Beaut began as a blog to celebrate Black-owned beauty brands. After researching smaller businesses and using their products, it transitioned into a beauty supply shop that featured beauty and skincare products from Black-Owned and Female-Owned small businesses. Each product is handpicked and sampled to ensure the ultimate pamper and self-care experience.

How does it empower you as a Black Woman in the Beauty Field?

Love the Beaut empowers me because my goal is to provide exclusive access to glamour and well-being for women and allow a platform for smaller beauty business owners with a one-stop-shop vibe. I believe I’ve accomplished that goal so far, and there is so much more to come. 

What are 3 of your favorite beauty items you can’t live without?

I cannot live without Lipstick (I’m obsessed), concealer, and mascara.

Anything else our beauty readers should know about you?

I am an online beauty supply shop owner, and I am also a preschool Speech Pathologist. I diagnose and treat preschool children with speech, language, social communication, and cognitive-communication disorders. Educator by day and Glamour-pusher by night!

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