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One of the many things we love about August is the opportunity to specifically highlight Black businesses and Black entrepreneurs as part of National Black Business Month.
Black entrepreneurs have historically endured systemic racism and underfunding (In 2020, Black founders received 0.6% of all venture capital deployed). And the pandemic has disproportionately impacted Black businesses, resulting in a 40% decrease in Black business ownership.
Despite these serious obstacles, Black businesses continue to be established and scale. An astounding 17% of Black women are in the process of starting or running new businesses. That’s compared to just 10% of white women and 15% of white men. And Yelp’s 2021 Local Economic Impact Report shows that the rate of Yelp searches for Black-owned businesses increased by 3,085% compared to 2020.
Today and throughout the year, we’ll continue to highlight positive corporate moves (like Best Buy’s recent multi-million dollar investment in Brown Venture Group, a firm exclusively backing BIPOC founders) as well as ways you can align your capital with your values (like supporting Black businesses in your local community).
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| “It is up to us to be brave and take decisions based on the scientific evidence provided in these reports.” |
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- Climate and environmental activist Greta Thunberg reacting to the IPCC climate report
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| Investing for Better |
| Invest for Better is a non-profit organization that helps women demystify investing, take control of their capital, and mobilize their money in alignment with their values. They are looking for changemakers to become peer leaders, learn from experts, and support small groups in learning and moving their capital. |
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| Maximizing Your Positive Impact |
| No matter where you are in your investing journey, it's important to learn more about the expertise, tools, and resources available to help you maximize the positive impact of your capital. Jean Case shares three easy steps to get started. |
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| INCLUSIVE ENTREPRENEURSHIP |
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| 50 Over 50 |
| Don’t miss the third chapter of Forbes’ 50 Over 50 project highlighting 50 women with brilliant ideas, experience, and a determination to disrupt. These changemakers are making an impact across sectors. |
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| A Historic Start for Woman-Led IPOs |
| The number of companies founded by women who have filed to go public this year is on pace with last year (both are record years). However, one reason so few women who have founded companies have taken them public is the number of funding challenges women entrepreneurs face at the growth stage. |
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| Advancing Inclusion for Black Employees |
| Donna Morris, chief people officer at Walmart, and Lareina Yee, senior partner at McKinsey, note four ways organizations can advance inclusion for Black employees (both internally and in collaboration with other stakeholders). |
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| Going for Gold |
| We wrote about Allyson Felix’s entrepreneurship and activism several weeks ago. She’s since become the most decorated US track and field athlete in Olympics history after helping Team USA win the women's 400m sprint relay last Saturday. |
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