Working a profitable enterprise might be robust anytime. However attempting to function and develop one is made a lot tougher amid obstacles like rising inflation, labor shortages, and the lingering COVID-19 pandemic.
Worsening issues, a January 2022 survey confirmed Black-owned companies hit document ranges of decrease gross sales, with over half reporting smaller gross sales than the prior 12 months. Two years into COVID, much less client site visitors, entry to capital, and worker availability are prime obstacles to enterprise progress.
Now in its second 12 months, the Coalition to Again Black Companies (CBBB) has awarded 20 Black-owned small companies from its 2021 grant program a further $25,000 every in enhancement grants to again their progress and long-term success. All advised, that’s $625,000 in funding. Among the many recipients—45% of which began a enterprise through the pandemic—80% are owned by girls and 85% have six or fewer staff.
Since its launching, CBBB has awarded $6 million in grants to just about 1,100 Black small companies in 40 states. The cash was used to assist the companies pay for necessities whereas navigating COVID, together with overlaying lease and payroll bills in addition to increasing their on-line presence and advertising and marketing efforts.
“We proudly again small companies as a result of they’re the spine of communities throughout the nation,” said Madge Thomas, head of company sustainability and president of the American Specific Basis. American Specific is a founding companion of the CBBB.
The 20 recipients who received the enhancement grants had been chosen by a panel of judges out of 491 companies in CBBB’s 2021 cohort. Growing a stronger on-line presence, relocating to a bigger bodily area, and hiring further employees had been among the many prime causes cited for needing the grants.
Bronwyn Morgan, the proprietor of Xeo Air in East St. Louis, Illinois, shared how the funding shall be useful. Her science and know-how enterprise features a drone service platform that gives high-quality aerial mission and information administration companies.
“The enhancement grant will help us with essential prices to propel our progress ahead for 2022, together with hiring extra pilots, investing in web optimization advertising and marketing, internet platform enhancements, lease, and extra,” she says.
Based mostly on particulars supplied to BLACK ENTERPRISE, the 2022 enhancement grantees embody:
- Future Brewton, proprietor of A Home Referred to as Hue, LLC, a producing, transport, and logistics firm primarily based in Faculty Park, Georgia.
- Mandi Masden, proprietor of Apostrophe Puzzles, a retail gross sales retailer primarily based in Brooklyn, New York.
- Ernest Gass, proprietor of Ballersworld, an training and coaching firm primarily based in Moncks Nook, South Carolina.
- Kesha Aycock, proprietor of Catering by Design, LLC, a meals, and beverage catering firm primarily based in Hampton, Georgia.
- Bupe Mulenga, proprietor of Stephen’s Southern Delights (formally Copper Lakes Distributors, LLC), a meals and beverage firm primarily based in Detroit, Michigan.
- Stephen Thomas, proprietor of Focus Full Garden Service & Landscaping, a design and structure firm primarily based in Converse, Texas.
- Che Ward, proprietor of Damage and Therapeutic Behavioral Well being and Wellness, a healthcare and medical group primarily based in Havelock, North Carolina.
- April Harris, proprietor of Protecting You Candy, a meals and beverage firm primarily based in Paterson, New Jersey.
- Lavergne Lisette, proprietor of Lisette Lavergne Regulation, PC, a authorized apply primarily based in Los Angeles, California.
- Nekia Hattley, proprietor of My Daddy’s Recipes, LLC, a meals, and beverage firm primarily based in Inglewood, California.
- Philip Corridor, proprietor of Panoramic Studying Academy, LLC, a childcare firm primarily based in Berkeley, California.
- Perry Petit Beau, proprietor of Petit Beau-ty & Grooming Firm, a commerce and companies firm primarily based in Fort Lauderdale, Florida.
- Artika Tyner, proprietor of Planting Folks Rising Justice, LLC, an training and coaching firm primarily based in Saint Paul, Minnesota.
- Aimee Parker, proprietor of Precision Media and Designs, an promoting, arts, and media company primarily based in Tempe, Arizona.
- Tammy Brownlee, proprietor of Prime Proposal Group, Inc., a consulting and technique agency primarily based in Miami, Florida.
- Kat Shelby Lopez, proprietor of Shelby Know-how Options, an info, communication, and applied sciences firm primarily based in Midland, Texas.
- LaTonya Mister, proprietor of SOW & REAP Bodily Remedy, LLC, a healthcare and medical apply primarily based in Bossier Metropolis, Louisiana.
- Tina White, proprietor of TINA’S TIRES, INC., a producing, transport, and logistics firm primarily based in Riviera Seaside, Florida.
- Ronald Holloway, proprietor of Woofbowl, LLC, a farming, animal, and conservation firm primarily based in Brooklyn, New York.
- Bronwyn Morgan, proprietor of Xeo Air, a science and know-how firm primarily based in East St. Louis, Illinois.
Acquire extra particulars concerning the winners and the way CBBB has helped them, right here. Functions for the autumn 2022 cohort open in August. For extra on eligibility particulars and to use, test this out.