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6 Resources Every Black Entrepreneur Should Leverage

Mar 06, 2022

It's 2022, and it could not be more evident that there are extreme racial inequities in the US. One of those many inequities is the pay gap that people of color experience compared to their white peers.


You've likely heard that women make 72 cents for every dollar men make. But those statistics are for white men and white women.


Black men make 86 cents to the white mans' dollar, but black women? Less than 70 cents.


All that can make running a business as a black entrepreneur seem impossible. You're already up against harsh odds — but you're black. You're used to that, and you're used to breaking that racial ceiling.


Thankfully, black professionals before you have set up resources you can use to get a leg up. We're detailing some of those below.

Resources for Black Professionals


When you're creating a business, you need all the help you can get. Everyone does. Even people born into privilege! 
45% of new companies fail within the first five years.


Accessing and using resources to your advantage increases your odds of being in that successful 55%. Don't let your ego tell you that you have to do it alone. Knowing how to leverage help is one of the things that makes a great entrepreneur and sets you up to help people in the future.

1. Take a Financial Literacy Course


Before you start a business, or even if you've already started, it's essential to have a strong understanding of financial literacy. As a business owner, you have to understand taxes, profits, and how to balance your business and personal finances.


There are plenty of courses online that teach you financial basics, but you may need something more advanced.


Listening to podcasts like Rise Urban Nation will not only give you the information you're looking for but will help you find inspiring mentors.


On that note, there are courses for businesses and entrepreneurs that cover everything from financial literacy to marketing.

2. The Small Business Empowerment Program


This program is an eight-week course in small business development. So far, it's offered over 2 million dollars in "Financial Dignity Services," helped over 75,000 entrepreneurs, started over 1100 new businesses, and has access to 25 different startup lenders.


Operation Hope offers the program, whose mission is to "expand economic opportunity, making free enterprise work for everyone." They want to give minorities and young adults the information they need to build secure financial futures and add value to the economy.


They're a 501(c)(3) non-profit and have been around for thirty years. The program is not currently open, but you can opt into their newsletter for application updates and information.

3. Register for 8(a)


As a business run by a minority group, there are certain awards and contracts you can apply for that white-run businesses can not. One of those is the 8(a) Federal Contracting Award.


You'll have to apply online, prove that more than 51% of your business ownership is from their list of disadvantaged groups, and prove that your income meets certain limits. If you can do all that, you can tap into the 5% of Federal contracting dollars that the government commits to spending with 8(a) businesses each year.


Bidding for and getting government contracts is another subject in and of itself; stay tuned into the podcast to hear from people who successfully do so.

4. Join a Mentoring Program


The best way to learn about business is from someone who's gone before you, faced what you will face, and came out on the other side. That's where mentoring programs come in.


The most well-known one is 
Black Girl Ventures. Clearly, it's marketed towards black women entrepreneurs. They have programs you can apply for, as well as a website full of resources. You'd recognize many of the businesses that are program graduates.


Another good resource is the site SCORE for Black Entrepreneurs. It's less of a program and more of a search engine for mentors that match your needs. They also have a resource library for all entrepreneurs, with templates, advice, and anything else a new business owner could need.


5. Register with the Coalition to Back Black Business


Do you know the difference between a grant and a loan? A loan has to be paid back, while a grant does not. This organization gives grants to black-run businesses if they meet specific standards.


The program is sponsored by American Express and the US Chamber of Commerce Foundation. According to their website, they've granted almost 1,100 grants, with more than half of them going to women-owned businesses.


Grants are available in 40 states — so check if yours is one of them.

6. Get Posted on Black-Owned Everything


You can do everything for your business right on paper, but if you don't have customers or visibility, it doesn't matter. The site Black-Owned Everything aims to help you with that. They're like a marketplace for black businesses and feature different businesses each week.


You can apply to be on the site by entering your email address. They have a good following on Instagram and Facebook if you're more comfortable sharing content there.


Resources Every Black Entrepreneur Should Leverage


Getting help isn't a sign of weakness: it's a sign of strength. Get the help you need as a black entrepreneur in America with the resources above. Once you've gotten the help you need, we'd love to feature you on our business podcast. 


We're always looking for more black professionals to interview. 


For more inspirational content about black business owners, subscribe and listen to our podcast. 


By site-4_kaFg 23 Jan, 2023
Do you want to know influential Black entrepreneurs? Read this article to discover the top 10 influential Black entrepreneurs! Black business is booming! More than 3.1 million businesses have Black owners in the United States. The majority of these businesses are small, and some have only one employee. Yet Black entrepreneurs are getting millions of dollars and running massive corporations. If you're looking to start a business, you should examine a few entrepreneurs and model yourselves after them. Who are the major Black entrepreneurs in the arts, technology, and business sectors? How did their careers start, and what companies have they created? How much money have they raised? Answer these questions, and you can join the legions of Black professionals throughout the United States. Here are 10 great Black entrepreneurs. 1. Young Paris Milandou Badila, better known as Young Paris, was born in Paris in 1988. From a young age, he became interested in music, and he began a music teaching career in New York when he was 17. Young Paris's career took off in 2016 when he signed with Jay-Z's ROC Nation. He released his debut album that year, combining Afrobeat with rap and hip-hop. His second album, Blood Diamond, became popular in Africa and has more than five million streams on Spotify. Young Paris went on to join the fashion scene. He is currently an ambassador for the Council of Fashion Designers of America, working with elites like Anna Wintour. In addition to fashion, Young Paris has produced artworks for NFTs and the Metaverse. He is outspoken about his hopes for Black designers and artists to join the Metaverse, as he thinks NFTs have high potential return. 2. Kimberly Bryant Kimberly Bryant was born in 1967 in Memphis. She excelled in mathematics and science at an early age, and she went to college with plans to be a civil engineer. However, Bryant grew interested in personal computers, and she became an electrical engineer instead. After working for electrical companies, she switched to a career in pharmaceuticals and business. She became an entrepreneur in 2011 when she founded Black Girls CODE. Black Girls CODE is an educational organization that provides classes to young Black women in afterschool and summer programs. Black Girls CODE became a fast success, opening 15 chapters across the United States. In 2014, it received a $50,000 grant from Microsoft. In 2018, the organization partnered with Lyft, allowing drivers and users to donate to the organization. 3. Jason Njoku Jason Njoku was born in London in 1980. He moved to Nigeria when he was 12 years old and went to the University of Manchester where he studied chemistry. After he graduated, he started a magazine for students called Brash Magazine. He then tried launching a series of businesses, but none of them succeeded. He moved back into his mother's home and developed the idea of a distribution business for movies in Nigeria. In 2010, he launched NollywoodLove, a YouTube channel that would post Nigerian movies online. He received $3 million for the project from the venture capital fund Tiger Global. In 2011, he launched a video-on-demand movie platform called iROKO. The platform became extremely popular, and Njoku has raised tens of millions of dollars for it. Njoku has also started Spark, an investment vehicle for internet start-ups in Nigeria. The company has invested in dozens of companies, helping Black professionals throughout the country. 4. Jessica O. Matthews While a student at Harvard, Jessica O. Matthews and a classmate launched a product called SOCCKET. SOCCKET was a soccer ball that stores kinetic energy as people kick it around. Users could then attach the ball to lights and power them for three hours. The product was successful, and Matthews founded a company called Uncharted Power to handle its production. Matthews served as CEO of Uncharted Power, guiding it to three consecutive years of doubled gross profit margins. In 2016, the company was valued at $57 million. She raised $7 million in funding for the project, making her one of the few Black female entrepreneurs to have raised $1 million in funding. Matthews has also worked on infrastructure projects. She serves as the executive director of KDDC, which develops hydropower dams in Nigeria. 5. Ryan A. Williams Ryan A. Williams was born in Baton Rouge in 1988. At 13, he founded his first company, a sports apparel organization. He went to Harvard where he founded the Veritas Financial Group, which helps students become more financially literate. While at Harvard, he became interested in real estate technology. After graduating, he worked at Goldman Sachs and Blackstone and then founded his own company, Cadre. Cadre is a financial technology company that users can use to invest in real estate. The company intends to make the real estate market similar to the stock market, as investors can select individual transactions to make. Cadre has received tens of millions of dollars in funding, including from Harvard University. In 2021, the company sold three buildings for more than $310 million, making it one of the largest ever online real estate transactions. He also works as a public speaker, educating people on financial literacy. 6. Paul Judge Dr. Paul Judge began his entrepreneurial career with CipherTrust, an email security company. The company was sold in 2006 for more than $270 million, and Dr. Judge transitioned to Purewire, a web security company. In 2011, Dr. Judge co-founded Pindrop Security. The organization helps companies stay safe during phone calls. Pindrop acquired more than $100 million in funding between 2012 and 2016. In 2014, Dr. Judge co-founded TechSquare Labs, a company-building studio. The organization has invested in dozens of technology companies, many of them run by Black entrepreneurs in 2022. Dr. Judge also serves as Managing Partner for Panoramic Ventures, an organization that funds technology companies in the Southeast. He focuses on funding projects run by overlooked founders, including students and entrepreneurs of color. 7. Binta Brown Binta Brown began her career as a legal clerk to Supreme Court Justice Antonin Scalia. She then served as a corporate advisor and public policy aide. In 2014, Brown founded her first company, Fermata Entertainment, an artist development firm. In 2016, Brown co-founded the Music Lab, an after-school program to teach high schoolers about music and open mic performances. The Music Lab became popular, and Brown has since dedicated her career to the music industry. She has worked with artists like Chance the Rapper and advises several music companies on diversity and legal matters. 8. Yetnebersh Nigussie Yetnebersh Nigussie was born in Ethiopia in 1982. She lost her eyesight when she was five, and her parents sent her to a school for the blind. Yetnebersh was an extremely successful student, chairing several clubs. In the mid-2000s, Yetnebersh became involved in AIDS activism. She received awards for her work and used her fame to start dozens of organizations. She co-founded the Ethiopian Center for Disability and Development, funding companies in Africa. In 2016, Yetnebersh joined Light for the World, an NGO that fights for disability rights. She continues to work for Light for the World and several human rights organizations. 9. DeMaurice Smith DeMaurice Smith began his career as a trial lawyer. He then worked in the U.S. Attorney's office and with the Department of Justice, arguing cases in the U.S. Court of Appeals. In 2009, Smith was elected to become the executive director of the National Football League Players Association. Smith has worked with NFL owners to raise money for players and improve player safety. Smith has since expanded his portfolio to cover many operations in football. He founded a venture capital company that lets players use their name, image, and likeness rights to make money. He also partnered with the NFL and MLB to create a trading card company currently valued at more than $1 billion. 10. Larry Lawson Larry Lawson worked as a producer at CBS News. His work included reporting on Princess Diana's death, which was viewed by millions of people. In 2008, Lawson became a senior news director at NESN. He produced digital tools and handled millions of dollars in operating budgets, helping expand network viewership by 40%. In 2021, Lawson joined the Black News Channel. He launched the organization's streaming platform and created production tools to streamline operations. Influential Black Entrepreneurs in America Black entrepreneurs affect every sector of the American economy. Major entrepreneurs in the arts include Young Paris, Jason Njoku, and Binta Brown. Black technological entrepreneurs include Kimberly Bryant, Jessica O. Williams, and Dr. Paul Judge. Many entrepreneurs like DeMaurice Smith and Larry Lawson started their careers outside of business and then successfully transitioned into it. Other entrepreneurs like Yetnebersh Nigussie and Ryan A. Williams combine their efforts with charity work. Whatever business you want to start, you can get help and inspiration for it. RISE Urban Nation helps support Black entrepreneurs and business leaders. Contact us today.
18 Sep, 2022
Do you want to know influential Black entrepreneurs? Read this article to discover the top 10 influential Black entrepreneurs! Black business is booming! More than 3.1 million businesses have Black owners in the United States. The majority of these businesses are small, and some have only one employee. Yet Black entrepreneurs are getting millions of dollars and running massive corporations. If you're looking to start a business, you should examine a few entrepreneurs and model yourselves after them. Who are the major Black entrepreneurs in the arts, technology, and business sectors? How did their careers start, and what companies have they created? How much money have they raised? Answer these questions, and you can join the legions of Black professionals throughout the United States. Here are 10 great Black entrepreneurs. 1. Young Paris Milandou Badila, better known as Young Paris, was born in Paris in 1988. From a young age, he became interested in music, and he began a music teaching career in New York when he was 17. Young Paris's career took off in 2016 when he signed with Jay-Z's ROC Nation. He released his debut album that year, combining Afrobeat with rap and hip-hop. His second album, Blood Diamond, became popular in Africa and has more than five million streams on Spotify. Young Paris went on to join the fashion scene. He is currently an ambassador for the Council of Fashion Designers of America, working with elites like Anna Wintour. In addition to fashion, Young Paris has produced artworks for NFTs and the Metaverse. He is outspoken about his hopes for Black designers and artists to join the Metaverse, as he thinks NFTs have high potential return. 2. Kimberly Bryant Kimberly Bryant was born in 1967 in Memphis. She excelled in mathematics and science at an early age, and she went to college with plans to be a civil engineer. However, Bryant grew interested in personal computers, and she became an electrical engineer instead. After working for electrical companies, she switched to a career in pharmaceuticals and business. She became an entrepreneur in 2011 when she founded Black Girls CODE. Black Girls CODE is an educational organization that provides classes to young Black women in afterschool and summer programs. Black Girls CODE became a fast success, opening 15 chapters across the United States. In 2014, it received a $50,000 grant from Microsoft. In 2018, the organization partnered with Lyft, allowing drivers and users to donate to the organization. 3. Jason Njoku Jason Njoku was born in London in 1980. He moved to Nigeria when he was 12 years old and went to the University of Manchester where he studied chemistry. After he graduated, he started a magazine for students called Brash Magazine. He then tried launching a series of businesses, but none of them succeeded. He moved back into his mother's home and developed the idea of a distribution business for movies in Nigeria. In 2010, he launched NollywoodLove, a YouTube channel that would post Nigerian movies online. He received $3 million for the project from the venture capital fund Tiger Global. In 2011, he launched a video-on-demand movie platform called iROKO. The platform became extremely popular, and Njoku has raised tens of millions of dollars for it. Njoku has also started Spark, an investment vehicle for internet start-ups in Nigeria. The company has invested in dozens of companies, helping Black professionals throughout the country. 4. Jessica O. Matthews While a student at Harvard, Jessica O. Matthews and a classmate launched a product called SOCCKET. SOCCKET was a soccer ball that stores kinetic energy as people kick it around. Users could then attach the ball to lights and power them for three hours. The product was successful, and Matthews founded a company called Uncharted Power to handle its production. Matthews served as CEO of Uncharted Power, guiding it to three consecutive years of doubled gross profit margins. In 2016, the company was valued at $57 million. She raised $7 million in funding for the project, making her one of the few Black female entrepreneurs to have raised $1 million in funding. Matthews has also worked on infrastructure projects. She serves as the executive director of KDDC, which develops hydropower dams in Nigeria. 5. Ryan A. Williams Ryan A. Williams was born in Baton Rouge in 1988. At 13, he founded his first company, a sports apparel organization. He went to Harvard where he founded the Veritas Financial Group, which helps students become more financially literate. While at Harvard, he became interested in real estate technology. After graduating, he worked at Goldman Sachs and Blackstone and then founded his own company, Cadre. Cadre is a financial technology company that users can use to invest in real estate. The company intends to make the real estate market similar to the stock market, as investors can select individual transactions to make. Cadre has received tens of millions of dollars in funding, including from Harvard University. In 2021, the company sold three buildings for more than $310 million, making it one of the largest ever online real estate transactions. He also works as a public speaker, educating people on financial literacy. 6. Paul Judge Dr. Paul Judge began his entrepreneurial career with CipherTrust, an email security company. The company was sold in 2006 for more than $270 million, and Dr. Judge transitioned to Purewire, a web security company. In 2011, Dr. Judge co-founded Pindrop Security. The organization helps companies stay safe during phone calls. Pindrop acquired more than $100 million in funding between 2012 and 2016. In 2014, Dr. Judge co-founded TechSquare Labs, a company-building studio. The organization has invested in dozens of technology companies, many of them run by Black entrepreneurs in 2022. Dr. Judge also serves as Managing Partner for Panoramic Ventures, an organization that funds technology companies in the Southeast. He focuses on funding projects run by overlooked founders, including students and entrepreneurs of color. 7. Binta Brown Binta Brown began her career as a legal clerk to Supreme Court Justice Antonin Scalia. She then served as a corporate advisor and public policy aide. In 2014, Brown founded her first company, Fermata Entertainment, an artist development firm. In 2016, Brown co-founded the Music Lab, an after-school program to teach high schoolers about music and open mic performances. The Music Lab became popular, and Brown has since dedicated her career to the music industry. She has worked with artists like Chance the Rapper and advises several music companies on diversity and legal matters. 8. Yetnebersh Nigussie Yetnebersh Nigussie was born in Ethiopia in 1982. She lost her eyesight when she was five, and her parents sent her to a school for the blind. Yetnebersh was an extremely successful student, chairing several clubs. In the mid-2000s, Yetnebersh became involved in AIDS activism. She received awards for her work and used her fame to start dozens of organizations. She co-founded the Ethiopian Center for Disability and Development, funding companies in Africa. In 2016, Yetnebersh joined Light for the World, an NGO that fights for disability rights. She continues to work for Light for the World and several human rights organizations. 9. DeMaurice Smith DeMaurice Smith began his career as a trial lawyer. He then worked in the U.S. Attorney's office and with the Department of Justice, arguing cases in the U.S. Court of Appeals. In 2009, Smith was elected to become the executive director of the National Football League Players Association. Smith has worked with NFL owners to raise money for players and improve player safety. Smith has since expanded his portfolio to cover many operations in football. He founded a venture capital company that lets players use their name, image, and likeness rights to make money. He also partnered with the NFL and MLB to create a trading card company currently valued at more than $1 billion. 10. Larry Lawson Larry Lawson worked as a producer at CBS News. His work included reporting on Princess Diana's death, which was viewed by millions of people. In 2008, Lawson became a senior news director at NESN. He produced digital tools and handled millions of dollars in operating budgets, helping expand network viewership by 40%. In 2021, Lawson joined the Black News Channel. He launched the organization's streaming platform and created production tools to streamline operations. Influential Black Entrepreneurs in America Black entrepreneurs affect every sector of the American economy. Major entrepreneurs in the arts include Young Paris, Jason Njoku, and Binta Brown. Black technological entrepreneurs include Kimberly Bryant, Jessica O. Williams, and Dr. Paul Judge. Many entrepreneurs like DeMaurice Smith and Larry Lawson started their careers outside of business and then successfully transitioned into it. Other entrepreneurs like Yetnebersh Nigussie and Ryan A. Williams combine their efforts with charity work. Whatever business you want to start, you can get help and inspiration for it. RISE Urban Nation helps support Black entrepreneurs and business leaders. Contact us today.
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