While Seattle is above average in the percentage of businesses owned by people of color, the great majority of those businesses — 73 percent — have Asian ownership.
Government officials, business leaders and community members gathered in Arcadia, California on Wednesday, August 31 to announce the upcoming 17th Annual Asian Small Business Expo. Organized annually by the Asian Pacific Islander Small Business Program (API SBP), the expo on Saturday, September 10 bears the theme, “Recipes for Growth.” Activities that day include a women’s entrepreneur panel and workshops to guide business owners and aspiring entrepreneurs on how to succeed in their respective fields.
African-American-owned businesses are the backbone of their communities, major contributors to our growing economy, and sources of innovation and thought leadership -- not just in their industries but throughout our society. They also provide economic opportunity and stability to struggling minority communities. The problem is there are simply not enough of them.
In an acknowledgement that many U.S. small businesses cannot qualify for a bank loan, a federal agency that assists minority-owned firms is now partnering with a pair of online lenders.
Baltimore-based attorney Jelani Murrain plans to transfer his hard-earned money to an institution of financial empowerment: A Black-owned bank.
A black-owned Atlanta bank is experiencing a sudden surge of deposits, powered by a campaign aimed at bolstering black-owned financial institutions after multiple high-profile police killings raised awareness of institutional inequality.
In an effort to level the playing field for Black-owned small businesses, the Opportunity Finance Network (OFN), recently launched a service that makes it easier to comparison shop for the best loans.
A Ghanaian firm stepped in right on time as a Black-owned Bronzeville bank was on the verge of collapsing. Groupe Nduom of Ghana invested a whopping $9M into the failing Illinois Service Federal Savings and Loan Association, now known as ISF Bank, Ghana Web reports. The bank was in search of capital to revive its struggling operations.