Tuesday, May 21

Tag: owned

For Decades The Government Has Fallen Short On Contracts With Woman-Owned Businesses
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BUSINESS

For Decades The Government Has Fallen Short On Contracts With Woman-Owned Businesses

Historic barriers have blocked women-owned small businesses from winning federal contracts, according to a new report. Chabeli Carrazana Originally published by The 19th Nearly three decades ago, the Small Business Administration set a goal of granting 5 percent of federal contracts to women-owned small businesses. It has only met that goal twice, in 2015 and 2019, according to a new report from the Bipartisan Policy Center and Goldman Sachs. Survey data shared exclusively with The 19th by Goldman Sachs’ 10,000 Small Businesses Voices program, which helps advocate for small business owners, found a widening gender gap for contracts at the federal level that shows how women-owned small businesses have been shut out from the largest contracts. At the local level, women- and men-owned...
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Finding And Supporting Black-Owned Businesses
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SOCIAL JUSTICE

Finding And Supporting Black-Owned Businesses

Finally, we have the world’s attention, which is important for #BlackLivesMatter and Black-owned businesses. And the big question is “How do I find Black-owned businesses?” Yes, Blackout Day 2020, powered by OneUnited Bank, was a huge success. According to Yelp’s Economic Average Report, during the 2nd quarter 2020, there were more than 2.5 million searches for Black-owned businesses on Yelp, compared to only 35,000 in 2019, an increase of more than 7,000%. Searches for Black-owned restaurants increased more than 2,500% and Black-owned bookstores over 1,400%. Because of the surge, Yelp announced it will offer a new tool for businesses to identify themselves as Black-owned. So how do you find Black-owned businesses? Here are 7 ways to find Black-owned businesses that are owned and managed...
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Journalism

Black-Owned Banks Keep Community Money Where It Belongs

A national network of financial cooperatives is helping marginalized groups keep their money out of an extractive banking system. Me’Lea Connelly is from the Bay Area of California, but she has deep roots in Minnesota. Her mother’s family was one of the first to migrate to the state after slavery ended. When she was 15, her parents divorced, and she moved with her mother to Minneapolis. “I’ve always just felt more at home here,” Connelly said. “All my ancestors are just calling me home.” But that home, in Minneapolis’ Northside, has a severe shortage of shopping centers, grocery stores, and banks. In 2017, Minnesota was named the second-most unequal state for Black people in a study of Black and White inequality by 24/7 Wall St., a financial news and opinion website. Despite the ...
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Houston Neighbors Said No To Walmart And Invested In Black-Owned Businesses After The Hurricane
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Journalism

Houston Neighbors Said No To Walmart And Invested In Black-Owned Businesses After The Hurricane

Three months ago, Hurricane Harvey ripped through Houston and coastal Texas, killing 82 people, displacing more than 60,000, and leaving parts of Houston with severe wind and flood damage. As the city recovers from the strongest hurricane to hit in more than 50 years, many of its residents in historically Black neighborhoods continue to struggle for resources and support. “Houston is the tale of two cities,” explains Andrew Cobb, cofounder of West Street Recovery, a nonprofit disaster response organization that formed out of Hurricane Harvey to aid residents in underserved neighborhoods. “A lot of people in Black and brown and low-income neighborhoods still need help.” “If you flew in from the airport and drove around, you’ll probably be like, ‘Well, I don’t see the problem,’” he says....
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Black People Deposit Your Money In Black Owned Banks
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Journalism

Black People Deposit Your Money In Black Owned Banks

Black People (African Americans) deposit your money in Black Owned Banks. A bank is one of the most important if not the most important institution in any community. A bank is a stabilizing force in the community it serves. It loans money to small businesses to help them expand and create jobs. It assist religious and community organizations to help them better address the particular needs of the community. It helps individuals to become home owners and help existing home owners make repairs and additions to their property.The bank does this because it gets the money it uses to make a profit for themselves from the community its located in. People finance the banks, banks in turn should finance the people's needs. This is how it works in every community except ours. In the African Ame...
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