Category: Young Black Entrepreneurs

Black-Female Serial Entrepreneur Raises over $110 Thousand Through Crowd Investing To Create The first Black-owned Real Estate Crowd Investing Platform In The United States

The JOBS Act of 2012

Crowd investing is being made possible by the Jumpstart Our Business Startups Act, or JOBS Act, a law intended to encourage funding of small businesses and real estate development in the United States by easing many of the country’s securities regulations. It passed with bipartisan support and was signed into law by President Barack Obama on April 5, 2012.  

Crowd Investing for Everyone

On May 16th, 2016 Title III, the regulation crowdfunding act went into effect and the floodgates of capital aggregation have been open to the Black community for the first time in History.  Rodney Sampson, an entrepreneur, educator, and journalist calls “Title III Regulation Crowdfunding the single most important legislation for African-Americans since the Emancipation Proclamation!”

Buy The Block

Crowd investing through Buy The Block allows community members to invest in businesses, residential and commercial real estate with their community peers to build a self-sustained business/investment ecosystem for disenfranchised communities and neighborhoods to build community equity and personal wealth. Buy the Block is the first foray for the Black community into the multibillion-dollar global real estate crowd investing industry as an owner.

Why Crowd Investing

Businesses new and old, small, and large, are now incorporating crowd investing to change the paradigm of urban economic development.  The capital formation playbooks have changed under the weight of the rising tide of “crowd capitalism”. The interest in how to effectively implement crowd investing to is reaching new and dizzying heights every day and Buy the Block is at the forefront of this innovation.

Funding “Black Girl Magic” Through Nail Spas

According to Nielsen Black women have experienced steady growth in income, population, and educational attainment, according to the study. Between 2007 and 2012, Black female entrepreneurs have grown by 67 percent. In education, 64 percent of Black women graduating from high school go straight to college, while 23 percent over the age of 25 have a bachelor’s degree or higher. But On average, black female-led startups raise just $36,000 of outside funding which amounts to 1 percent of VC funding.

Buy The Block intends to transform the relationship between Black female entrepreneurs and access to capital through with their Nail Spa Initiative. Buy The Block is on a mission to fund 12 Black-owned nail spas over the next 12-24 months including the commercial real estate where the spas sit.   

Why does CrowdInvesting matter in this market?

Many inner-city Black communities are retail and food deserts, which means that they lack access to some of the most basic necessities in their communities. These communities have very low Black-owned retail businesses and own even less commercial real estate. Black homeownership is at its lowest level since the 1960’s fair housing laws were enacted, and even though Black start businesses at a high level over 75 percent of them are undercapitalized. The best thing about CrowdInvesting with Buy The Block is that it focuses on solving issues on the inner-city market and allow people to become investors for just $100.  

If you want to find out more about CrowdInvesting or you want to support the 12 Nails Spas initiative, just visit Buy The Block to find all the details and information needed to bring our community project to reality!

JOIN THE MOVEMENT!

Did you join the movement? 

www.buytheblock.com 

Posted on December 13, 2017 By Staff With 0 comments

FIRST BLACK-OWNED REAL ESTATE CROWD INVESTING COMPANY IS SHOWING EVERYONE HOW TO BUY BACK THE BLOCK; BLACK COMMUNITY IS EXCITED

Crowdfund Your Way to the Top!

Little drops of water can run into great pools, and there is power in numbers and these form the premise of crowdinvesting. Recall those charity dinners where lots of money is realized for a good cause because loads of different individuals or organizations contributed their widow’s mite to the coffer? A similar scenario plays out in crowdinvesting. The good part is that the whole process is regulated and backed by laws to protect all the players.

Now, even though crowdinvesting, especially real estate crowdinvesting is a relatively young venture, it has gained many grounds in that short period. Why do you think that is the case? It offers the average person the opportunity to own properties that they would not have been able to hold or sell otherwise. A few years back, you hardly find individuals venturing into real estate, except, of course, the bourgeoisie and the corporate multimillion enterprises. Things have changed since then.

You can make more money, in the long run of course. You get to invest and contribute positively towards the betterment of the lives of numerous people. You would be helping to keep the dream of shelter for ‘all,’ a reality. You would have done something you and your future generation would be proud of for years to come. You can beat your chest in years to come and say ‘yes, I was here,’ in addition to making money.

Although it sounds risky, and it probably is, but come on, what worthy undertaking in life is not fraught with risks? However, as I mentioned previously, the laws and regulators are there to guide and protect you. Besides, BuyTheBlock.com wants to be around in this business for years to come, leading investors like you to greatness.

Own The Block

The real estate investors on BuyTheBlock.com are called BlockVestors, apt right? I love the title myself.

BlockVestors can invest as little as $100 in equity or debt securities. You or anyone else can participate, and you do not need to be accredited.

You pay nothing to register as a BlockVestor. All you need do is register on the website, browse, review any of the available offers, get whatever information you need about the offer with a click, and sign any agreement electronically. Then you purchase your shares whenever it suits you. Social media can be used to publicize the properties you are buying, owning or selling. Very simple right?

Oh, what if you change your mind? There is room for a refund so far as you do that 48 hours before the offer closes. Oh, I almost forgot this tiny piece of information, your returns! This is distributed to all the BlockVestors within the specified period, depending on whether the investment is equity or debt.

Sell The Blocks

You know, there is this freedom associated with Buy The Block kind of crowdinvesting. Another interesting point you should know is that you have the opportunity of becoming a Block Developer at Buy The Block. As such, you can raise $1.07 million for any real estate project and or business that includes real estate over a year period via Buy The Block.

Simple step too, create an online account, provide the property information, followed by some paper works, then after the due diligence protocols and approval you are on your way to becoming a Developer on Buy the Block. Afterwards, you publicize, notify your group of BlockVestors who in turn can invest once the property becomes open for investment.

The whole process is something you can begin once you make up your mind, it does not take much to create your online profile or start block offer.

Offer Categories

Variety is the spice of life. Take a look at the various categories available on Buy The Block.

  • Office category
  • Retail category
  • Industrial category
  • Multi-family residential category and
  • Single-family residential category

No matter your tastes and interests, you are covered. These types, along with the latest offers are beautifully and proudly displayed on BuyTheBlock.com so you can quickly make the right choices.

Why not take that leap of faith? You have nothing to lose really. You can carry out your research on all the other parties involved just to be sure you are at the right place with the proper investment.

Please visit www.buytheblock.com to get all your burning questions answered.

Knowledge is power. Whatever you decide, Buy the Block will work with you every step of the way. If you encounter any problem along the way, they are only a click away. You can also email or call customer care representatives.

Finally, be sure to invest and invest wisely to secure your future and that of many others.

BUY THE BLOCK  A SPACE TO INVEST IN REAL ESTATE WITH YOUR PEERS

Posted on November 22, 2017 By Staff With 0 comments

Program Is Showing the Black Community how to ‘Buy Back the Block’– One Investment at a Time

Lynn the Founder of Buy The Block

Lynn, Founder of Buy The Block — Program Is Showing the Black Community how to ‘Buy Back the Block’s One Investment at a Time

MEMBERS OF THE BLACK COMMUNITY RALLY TOGETHER TO ‘BUY BACK THE BLOCK’– ONE INVESTMENT AT A TIME

Following the successful creation of ‘Buy The Block’ as well as the passionate contribution of the community towards ensuring that the movement’s goal of raising the sum of $100,000+ is reached.  Lynn is thrilled to announce the highly anticipated launch of their new one-stop online crowd investing real estate investment platform,  2017.

Even though we are not yet there, it is heart-warming to see black people across the U.S., unite as one to embrace and support this unique concept via their continued contribution. With their help, we’ve been able to raise almost $109,000+ an amount we are devoting towards the development of our website, app and buying our first block” said Lynn, CEO at ‘Buy The Block’. In the coming months, contributors will be taking advantage of some excellent features that will take everyone by storm. These unique offerings will be targeting the existing state of affairs and bringing a breath of fresh air to the industry.

Suffice it to say that ‘Buy The Block’ aim to lead sponsors and developers in a significant number of investor’s projects if not all. This major factor in their operation distinguishes them from other crowd investing platforms.  While loads of their competitors only handle third-party sponsored projects and front as mediators through the provision of technology to execute funding for outsourcing deal. Buy The Block has been able to carve a niche for itself by putting their money where their mouth is and spearheading their project development with the help of their in-house Block Development Success Managers.

Doing this has helped us to reduce risks to the barest minimum and increase investors’ returns. Furthermore, through the creation of a personalized portal per investor, we furnish each of them with frequent real-time investment updates.  Our process will help us to earn their confidence without hassles.”  With a team of sound and highly respected professionals, Buy The Block is on a mission to change the face of crowd investing real estate. By keeping each investor informed through the provision of regular updates, the company continues to endear itself into the heart of investors.

“We have a blueprint of what works, and it will produce results. We are here to stay and lead the way by making real investing easier than ever” Lynn concluded.  Buy The Block was live on Saturday, June 17th, 2017 (Juneteenth)! Visit our Facebook page for more details.

Buy The Block goal was 500 members, we now have 450+!  Way to go!

Join The Movement

###

Contact:
Buy The Block
Email: info@buytheblock.com
URL: https://www.buytheblock.com

Posted on February 23, 2017 By Staff With 73 comments

The #1 Financial Principle YOU MUST KNOW

The #1 Financial Principle YOU MUST KNOW

 

Financial literacy is not just about knowing how to save your money.

Anybody can do that.

Financial literacy is about knowing how to — USE money.

Look, we know that the average White family in the U.S. has 13 times more wealth than the average Black family1 with Whites at $144,200 compared with Blacks at $11,200.

The income of the average educated Black income is $43,300. For Whites, its, $71,300.

Do not be confused by the difference in wealth and income.

Wealth is the total sum of your assets (things you own with value i.e. houses, businesses, stocks) MINUS your total debt.

Annual Income is merely the amount of money you make in a year.

Of course, most of that wealth gap can be attributed to historical racial oppression:

The long history of Black exclusion by Whites from homeownership2, education3, and jobs4 worked to keep Black folks from generating and maintaining wealth.

But you knew the wealth gap existed before you read this.

That’s not why I’m here.

I’m here to tell you that real financial literacy is about knowing how to — USE money & how to THINK with money. It’s using your money like little soldiers, sending your dollars out on a mission to recruit and capture more dollars.

Let me let you in on an often forgotten secret…

Black people save.

Black people are responsible.

Black people are tremendously intelligent.

The problem is not that we don’t know how to save money or that we only care about Jordans’.

The problem is that saving is not enough.

Saving is only one aspect of financial literacy.

It’s like you’re learning to read and write again- you finally learn where the Period goes in the sentence…Good. But there are key principles that you still need to know in order to actually become literate.

I want to share with you the # 1 key financial principle that you must know. It’s time to learn the rules of money. I’m so grateful someone shared the game with me back when I thought that if I just play by the rules, get my Master’s degree, then I’ll be alright.

SMH.

Back when I didn’t understand the Rules of Money, I found myself standing in the EBT line like so many of our people. I was demoralized… I mean, I never went to jail, I got an education, a Master’s, networked, treated people nicely….

 

I never knew The System was not built to reward Black people for being educated and hardworking. The system was built for people who know and play well by the Rules of Money.

 

Like it or not.

 

That’s why I’m sharing this with you.

Still though, I hear too many people talking about how Black folks will never be able to overcome the wealth gap, how Whites will destroy whatever Black people build, or how there is nothing Black people can do to live better if government does not intervene. It’s infuriating to me.

The problem: These naysayers are often right.

However, this Does Not Mean that Black people should be doing NOTHING but marching.

Why? Because there ARE ways to GENERATE WEALTH for the average Black family if we understand the Rules of Money.

White folks are not stopping you from reading this. They will not stop you from investing, either.

You have tremendous Power.

If you start with the #1 financial principle, you can enhance what you know and generate wealth for yourself and our community.

The #1 financial principle I want to share with you is: LEVERAGE.

Let me ask you a question:

I want you to really imagine that debt collectors are knocking down your door, you’ve been stressing for months, your debts fall into default mode. You can’t sleep.

Let’s say your total debt is $60,000 (student loans, credit cards) & your total annual expenses are $40,000. You’re having a hard time finding work.

If you had $60,000 dollars in debt and you were given $100,000 to use any way you want, how would you spend the money?

Would you pay the $60,000 debt, then invest the rest in a business?

Bad Idea.

This decision shows a lack of understanding of financial principle #1- LEVERAGE.

Here’s why:

If you completely pay off the debt right now, you just lost $60,000 and now only have $40,000 to work with.

$40,000 in free money sounds great don’t it? Especially to someone who couldn’t sleep only nights before because of crushing debt.

However, there is a bigger picture at work.

Financial Leverage= using a small amount of money to acquire assets that generate larger amounts of money.

You are going to purchase an ASSET. Assets are things that make you money. For example, when you purchase a stock, every year that stock will pay you just for owning it in the form of interest and dividends. This is what makes the stock valuable.

After you purchase the asset, you are going to make that asset pay off your debt for you.

Here’s What You Do With The $100K:

First, pay down your debt to the point where it falls out of default. THEN STOP. Let’s say this requires $10K.

You will keep up monthly payments so that you are slowly paying down your debt. Your monthly payments on this loan are $800.

Now you have $90K left. You are about to create a debt plan that applies LEVERAGE.

With the $90K, you go to a bank and finance a rental property. You will put 20% down on a property in a great, affordable location. The property cost $200K.

20% of 200K means that you will put down $40K to purchase the home. You’ve done your research and see that the mortgage payment plus all expenses is $950 (assuming a 3.5% interest on the mortgage).

You also know that you can rent out this property for $1950 a month.

This will create a profit of $1000 each month.

That means that you just used $40K to acquire a $200K asset. You generate $1000 each month off of the asset ($1950 rent-$950 you owe to the bank for the mortgage).

You use this $1000 a month to pay down your $800 monthly debt in credit cards/student loans. This is applying LEVERAGE.

Think about it- If it cost you $800 a month to pay down your $50K credit card and student loan debt, that means you will pay off the debt in 5.2 years.

Now how long will people be renting your house?

You will still be able to rent out your property even after your debt is paid off.

This means you have an asset consistently working for you even after it pays down your credit and student loans debts.

This is applying Leverage- you have purchased an asset that consistently generates money for you and you didn’t have to spend a lot to do it.

You spent $10K to get out of default, $40K to finance a property. You still have $50K left to invest in another property, stock, business, or seed through crowd-sourcing to your community.

If you would have paid off the $60K right away, you would only have $40K left, and no assets that are making you money. You would be in a financially worse position.

Much better than just paying down ALL your debt outright.

Right now, you’re thinking- “That’s smooth and all, but no one is about to give me $100K”.

Fair enough.

The point is for you to get busy thinking about how you can LEVERAGE the money you do have in order to improve your future financial position.

Here’s what you can do today:

Purchase some stock– From the privacy of your own home, you can put money in the S&P 500 ETF (purchase thru Vanguard or any online trading platform). Interest is around 7%. That means that every 10.2 years, your money will double. So if you only put $1K in today AND NEVER PUT ANY MORE MONEY IN, in 10 years (on average), that $1K will turn into $2K.

However, if you put $1K in EVERY Year for 10 years consecutively, you will have $14,783. At the end of another 10 years, $43,865.18, if you continue for another 10 years, $101,073.05. This keeps on going.

In a total of 30 years, you will have generated $100K.

Keep in mind that only $30K is money you put in directly- $70K is pure earned compounded interest.

Let me put it another way:

At the end of 30 years…

you would have generated more than $100,000…

for less than $2.80 a day…

That’s using rule #1- Financial LEVERAGE in order to create large sums of money with very few dollars. Your money is working like little soldiers for you now.

Now, maybe some of you are saying- “I ain’t got 30 years to wait.”

First, you don’t need 30 years. Imagine if you could put $10K into the market instead of just $1K.

Or…

Imagine if you began crowd-sourcing to raise money directly for your business today.

Or…

Imagine doing both. Having a long-term strategy of disciplined investment in the stock market and a short-term strategy of starting your own business to generate income.

For people who think that Time is STILL a problem…

I’m sorry, but it’s not really about you.

Never invest in the market just for yourself.

If you have children, in 30 years, they may be able to use $100K to fund real estate, businesses, and invest in stocks.

Invest NOW for THEM.

The wealth gap between Blacks and Whites is staggering. This will likely remain the case.

That does not mean that you are powerless to enhance your financial future. If you understand the #1 financial principle- you can take steps to build Generational Wealth today.

We Black folks are good at doing a lot with a little.

Luckily, the rules of money DEMAND that you learn to do a lot with a little…

Sounds like you already got a leg up. 

 

Continue Reading

Top Five Black Farmers, Black Farming is back on the rise!

After a Century in Decline, Black Farmers Are Back and on the Rise

These Black farmers don’t stop at healthy food. They’re healing trauma, instilling collective values, and changing the way their communities think about the land.
farm1

Blain Snipstal, second from left, with members of the Black Dirt Farm Collective. Photo courtesy Blain Snipstal.

Blain Snipstal and Aleya Fraser
Farm:Black Dirt Farm Collective
Location: Preston, Maryland
Number of Years Farming: 7
Revered Elder: Harriet Tubman

About 80 miles southeast of Baltimore, Black Dirt leases 2 acres that long have been home to the Black freedom struggle. Harriet Tubman once rescued her parents and nine other people from enslavement in this place, which was one of the first stops on the Underground Railroad.

farmer2

Vegan farmers JoVonna Johnson-Cooke and Eugene Cooke raise corn and other native crops at their Stone Mountain farm. Photo by Nicole Bluh.

Eugene Cooke and JoVanna Johnson-Cooke
Farm: Grow Where You Are Collective
Location: Atlanta and Stone Mountain, Georgia
Number of Years Farming: 14
Revered Elder: Wangari Maathai

Collaboration is also key for the nine members of the Grow Where You Are collective, who operate a 3-acre farm and food forest in Atlanta, as well as a 5-acre farm in the nearby rural community of Stone Mountain.

Yonnette Fleming holds a Rhode Island Red hen at the Hattie Carthan Community Garden. Photo by Quincy Ledbetter.

Yonnette Fleming holds a Rhode Island Red hen at the Hattie Carthan Community Garden. Photo by Quincy Ledbetter.

Yonnette Fleming
Farm: Hattie Carthan Herban Farm
Location: Brooklyn, New York
Number of Years Farming: 16
Revered Elder: Hattie Carthan

Yonette Fleming’s passion for agriculture comes through in the poetic urgency of her words. So it’s surprising to learn she once tried to escape it. She was raised in Guyana, where her family cooperated with indigenous communities to grow coconuts, sugar, rice, and other crops. She took a detour into corporate America before finding her way back to the land.

Lindsey Lunsford gathers peppers at TULIP’s community garden. Photo by Wil Sands.

Lindsey Lunsford gathers peppers at TULIP’s community garden. Photo by Wil Sands.

Lindsey Lunsford
Farm: Tuskegee United Leadership and Innovation Program (TULIP)
Location: Tuskegee, Alabama
Number of Years Farming: 2
Revered Elder: Booker T. Washington

The educator and activist Booker T. Washington once sent a letter to every resident of Tuskegee’s Greenwood neighborhood, encouraging them to grow home gardens in order to build self-sufficiency. Through her work with TULIP, Lindsey Lunsford is continuing his legacy.

Chris Bolden-Newsome shows off a basket of marshmallow root he grew at Bantram’s Garden. Photo by Owen Taylor.

Chris Bolden-Newsome shows off a basket of marshmallow root he grew at Bantram’s Garden. Photo by Owen Taylor.

Chris Bolden-Newsome
Farm: Community Farm and Food Resource Center at Bantram’s Garden (a project of the University of Pennsylvania’s Agatston Urban Nutrition Initiative)
Location: Philadelphia, Pennsylvania
Number of Years Farming: 12
Revered Elders: Rufus and Demalda Newsome (his parents)

Before the “food justice” movement existed in the United States, Black farmers in the Mississippi Delta were cooperating to feed the community. Raised by farmers in that movement, Chris Bolden-Newsome assumed that growing food was something everybody did and was shocked to find otherwise when he moved north. He now manages a 50-bed community garden in his current home of Philadelphia, where he reconnects Black people to their agricultural heritage.

Source: Leah Penniman wrote this article for YES! Magazine. Leah is a farmer and educator based in the Albany, New York, area.

 

 

Posted on May 6, 2016 By Staff With 5 comments

6 Amazing Black Tech Organizations That Are Making a Difference for Young People!

black_girls_code_tech_organization

 

It is no secret that there is a severe shortage of blacks in Silicon Valley. Although more and more minorities are graduating from college with degrees in computer science and computer engineering, many are not getting hired — even though they qualify.

Here are 6 black technology companies that support high-tech job opportunities for black youth:

#1 – Black Girls Code: this non-profit organization established in 2011 offers workshops and after-school programs to young girls of color with the goal to grow the number of black girls seeking careers in technology. The organization teaches young girls in underrepresented communities skills such as computer coding and programming languages.

#2 – New Me, Inc: this company was started in 2011 by Angela Benton, technology expert and entrepreneur. The company teaches entrepreneurs, particularly women and minorities, to identify and use their non-traditional backgrounds to create thriving businesses.

#3 – Teens Exploring Technology: this organization helps young men of color from low-income communities to learn skills that will turn them into technology leaders. The organization was established in 2010 and their programs are open to young men of color from grades 7 to 11.

#4 – NSBE, Jr: this organization helps young black students envision themselves in STEM careers (science, technology, engineering, mathematics) by providing students in grades 6–12 with fun, educational STEM activities and events. They also offer NSBE and corporate-sponsored scholarships to students entering college to major in STEM fields.

#5 – All Star Code: this non-profit organization prepares young men of color for careers in technology fields. Their programs provide mentorship, exposure to the technology industry, and intensive training in computer science. The program is located in New York City and is FREE for all accepted students and includes daily transportation and lunch.

#6 – Yes We Code: the goal of this organization is to help urban youth create promising futures in technology. The Oakland, California organization’s goal is to make 100,000 young black men to be the best computer coders in the world. The program focuses on giving technology skills to low-income youth.

 

http://blog.blackbusiness.org/2016/04/6-black-tech-organizations-for-young-people.html#more

Posted on April 15, 2016 By Staff With 0 comments

ORGANIZE BLACK YOUTH ENTREPRENEURS EXPOS IN 2016

Child Entreprenuer Day

Let’s get our youth involved in business. We encourage you to work with our children this summer and aid them in starting their own business. Also, if you currently own and operate a business or businesses teach our children to play an active roll in your company. Please take pictures, record videos create social accounts for our children to spread the word.

Kids can learn how to prepare for the future by running their own business. It can also help build their confidence.

Give your child some food for thought when it comes to deciding on their kid business idea:
-What are their interests?
-Do they like to work alone, with other kids, adults?
-Do they like work outside (like at the pool?)
-Do they have any interests in sales?
-Is there a best friend they want to partner with?
-Can they help with your own family business?

“We must teach our children to dream with their eyes open”….Harry Edwards

Here are some tips to planning your own ‘Black Youth Entrepreneurs Expo”:

  1. First decide how the money will be handled, since you are working with children maybe using tokens or tickets in exchange for currency in order for people to purchase good and or services.
  2. Next, find a location that can host several youths at the same time, if this is your first time, try someone with a huge backyard. Make certain where the event is going to be held is accessible.
  3. Third, get interested parents together, choose date and time. Note* try not to make the event longer than three hours, they are children and their attention will wonder after a few hours. 
  4. Finally, each youth with their family need to decide what to sell.  

Here are some additional resources below to engage our children in their entrepreneurial endeavors. 

ORGANIZE BLACK YOUTH ENTREPRENEURS EXPOS IN 2016

Business For Kids

Teaching children about business at a young age is important for the future of business as a whole. When kids are taught the specific lessons of money management and organizational skills, they can not only apply their skills towards building a business for themselves, but they can also apply the skills they have learned to their personal lives. Once your children become of age to start their own business, they can start off by building a lemonade stand and managing the money they have earned. There are also other business ideas for kids at a young age such as dog-walking or craft-making.

Business Lesson Plans

Money Management Lesson Plans

Business Games for Kids

Business Ideas for Kids

Recommended Reading

ORGANIZE BLACK YOUTH ENTREPRENEURS EXPOS IN 2016

Posted on March 10, 2016 By Staff With 0 comments

In 20 Years, Black-Owned Women Businesses Have Skyrocketed More Than 300%

black_women_fastest_growing_business_segment

It’s official; the growth in the number of businesses owned by black women is off the charts! The growth has reached 322 percent since 1997. In fact, businesses owned by African-American women represent the fastest growing group of entrepreneurs in America, according to a new study.

African-American women the fastest-growing entrepreneurs

The latest report, the 2015 State of Women-Owned Businesses Report, showed that black, women-owned businesses grew 1.5 times more than the national average for business growth between 1997 and 2015. Their skyrocketing success has resulted in:

  • Generating $52.6 billion in revenue
  • Employment for 300,000 people


Black women own almost half of all black-owned businesses

Black women own about 14 percent of all businesses in the U.S., or approximately 1.3 million businesses. They are also the owners of 49 percent of all the black-owned businesses in the nation. And as their businesses grow, so does their clout. In states such as Georgia (35 percent), Maryland (33 percent), and Illinois (22 percent), these entrepreneurs represent greater percentages of women-owned firms than the national average, which is 14 percent.

Given the steady growth of black-owned women businesses, it’s likely that we will continue to see these numbers grow, along with increased economic power and influence for these amazing entrepreneurs.

 

AFRICAN PRINTS & DESIGNS FOR YOUR HOME AS WELL AS EVERY DAY LIFE.

Sponsor: AFRICAN PRINTS & DESIGNS FOR YOUR HOME AS WELL AS EVERY DAY LIFE.

Source

Posted on March 8, 2016 By Staff With 1 comment

DETROIT 9-YEAR-OLD LAUNCH A CLOTHING BOUTIQUE FOR BOYS

churchboy

Location is Church Boy Clothing at 8900 E. Jefferson Detroit, MI 48214 (off of Marina drive)

Address: 8900 E. Jefferson Detroit, MI 48214

Phone: 586-894-8335

Hours: The store is open Thursday-Saturday 11 a.m. – 7 p.m.

First, his dress code was different from the rest, always wearing dress clothes while going to church, among other occasions. In church, most kids would wear casual attire while he would be wearing suits. It began quite early for him; he asked how to tie a bowtie at the age of four, something that wasn’t readily available for children of his age. When he turned 7 years old, he already started thinking of how he could provide a place where young boys would purchase formal wear.

At some point, Hill asked his grandma why children used to attend church services dressed casually. His grandma told him that such clothes are expensive. This inspired him further to think of providing a destination where such clothes would be affordable. But it wasn’t that alone. Understanding that there are those who would still stick to casual wear, regardless, he thought of starting a business that offered both official and casual attire.

To put the idea into reality, Hill reveals that he received support from his grandma, parents, family members, and his church. Ironically, his parents didn’t take him seriously when he started talking about starting a business; yet, he persistently asked for it. Finally, when he was seven-years-old, they managed to get for him a business license.

Getting a location for the business was another challenge, but lucky enough, Vees Boutique allowed Hill to get a spot in her shop.

Running a business isn’t that easy, particularly for a young boy who’s still going to school. Asked how he manages to balance school and his business, he said: “First I have to see what day I have an activity and I know what to do. I play football, piano, sing and I’m a worship leader at church.  I do my homework between 4:00-4:30 and I practice the piano at night. I get all A’s and B’s and I’ve been on the honor roll since kindergarten (Now in the 5th grade). I’ll work my store on Friday evenings and Saturday Afternoons. My grandmother and Ms. Vee will operate it the rest of the days.”

The name of his boutique is Church Boy Clothing and it opened in November in Detroit. His store provides different clothes and accessories, including socks, cufflinks, belts, men bracelets, among others.

He’s looking forward to being either a lawyer or obstetrician, and he’s planning to study either at Princeton or Howard University. To meet his college tuition needs, he’s planning on saving his profits.

Source:

 

Posted on January 31, 2016 By Staff With 7 comments

MANY PEOPLE ARE ON A MISSION TO REVOLUTIONIZE THE BUY BLACK ECONOMICS MOVEMENT AND CREATE 2 MILLION JOBS

MANY PEOPLE ARE ON A MISSION TO REVOLUTIONIZE THE BUY BLACK ECONOMICS MOVEMENT AND CREATE 2 MILLION JOBS

KIMG0024[1]NATIONWIDE, USA,–It has been said that necessity is the mother of invention. Thus, in an era where a sizable number of black people throughout the United States are being laid off—tossed to and fro by the winds of economic uncertainty—an innovative group of young, creative, and energetic Africans have emerged to help the black community; particularly from the shackles of economic hardship, chronic unemployment, debt bondage, and despair.

Powered by ‘Buy Black Economics,’ this new movement is associated with the hash tags #2MillionJobs and #EachAndEveryFriday. This dynamic initiative aims to eliminate unemployment by the year 2017, specifically through the creation of two million jobs for black workers.

The creator of this venerable movement (i.e., LYNN) states, “We are the bridge between ideas and execution, and we are singularly focused on growing our own economy. Each and every Friday, we are asking people to spend $20 with local and/or online black businesses.”

LYNN adds, “Statistics show that we currently have slightly over 2 million black businesses in America, and 1.9 million unemployed African American workers. If we consciously spend with these businesses for 24 to 48 months, then we will collectively generate enough capital to hire all of the people within our community who are currently unemployed.”

cash mob 4

Joining this movement is as easy as ABC! Follow the three steps below to get involved:

David, one of the inaugural members of the 2 Million Jobs Movement remarks, “Since starting ‘Each and Every Friday,’ I feel uncomfortable spending money anywhere else.  In fact, I sincerely believe that if 45 million of us (i.e., black people) commit to intentionally spending $20 with black businesses—merely once a week—we will reduce unemployment drastically in our communities….”

Interested community members and/or business owners can sign up for a list of businesses near you to support on the movement’s website buyblackeconomics.com.

2millionjobs2

 

About Buy Black Economics

“Buy Black Economics’ community initiatives involve the locating and allocation of limited resources (e.g., land, labor, capital, and entrepreneurship) in a way that has a positive effect on the level of business activity, sustainable employment, economic stimulus, and fiscal solvency within predominantly black communities. Therefore, Buy Black Economics is strongly committed to the creation of wealth in which our communities benefit.”

To learn more about Buy Black Economics visit: www.2millionjobs.com.

###

Media Kit

PDF PR 

Mathematical Economics 

Posted on January 27, 2016 By Staff With 19 comments

TOP 5 BLACK OWNED BUSINESS RUN BY CHILDREN

083113_maya_3

Photo credits: Maya’s Ideas Website

Every business begins with an idea. Coming up with that idea is one of the coolest feelings in the world. It makes you daydream during the day and keeps you awake at night. However, that idea doesn’t come easy, and once our youth bring them to reality it is worthy of us celebrating and supporting.

So we’ve compiled a list of the top 5 black owned businesses run by children in our community. Every business listed started out of their living room, so what are you waiting for?

 

  1. Lemonade from Bee Sweet Lemonade – Today, the award-winning BeeSweet Lemonade is buzzing off the shelves of Whole Foods Market, the world’s leader in natural and organic foods, and available at a growing number of restaurants, food trailers and natural food delivery companies.
  2. Bow ties at Mo’s Bows – Mo’s Bows is a company I started in Memphis, TN in 2011 when I was just 9 years old. I couldn’t find fun and cool bow ties, so one day I decided to use my Granny’s scrap fabric to make and sell my own. I like to wear bow ties because they make me look good and feel good. Designing a colorful bow tie is just part of my vision to make the world a fun and happier place. -Moziah
  3. Clothing and accessories at Maya’s Ideas – I’m a 15 year old philanthropist, environmental activist, entrepreneur, eco-designer, inspirational speaker, artist, animator, coder, (I make animated short films), illustrator, and writer. I am the CEO of Maya’s Ideas, a company I started in 2008 when I was just 8 years old. I create eco-friendly clothing and accessories. My designs are sold all over the world and I have customers in Denmark, Italy, Australia and more. I love to use my creativity to give back. 10-20% of my profits go to causes local and global charities and environmental organizations.
  4. Cookies from Mr. Cory’s Cookies – Cory has always had a dream of making the world better for everyone he knows.  That passion, combined with a love of treats and an entrepreneurial spirit, led Mr. Cory to be the owner of Mr. Cory’s Cookies at just 9 years old.  His delectable cookies are all-natural and made from high-quality ingredients – not wacky ingredients with names that you can’t pronounce. In 2009, Mr. Cory told his mother he was tired of taking the bus to school and he wanted to buy his mom a car. He crafted the idea to sell hot cocoa to raise the funds. Mr. Cory put all his spare time into selling hot cocoa at the Roman Inn in Englewood, NJ, and later in front of his home.
  5. Gourmet popcorn from E & C Popcorn Shop – E & C Popcorn, aka Ethan and Collier Popcorn Company, is an Atlanta based online retailer of homemade “gluten-free”gourmet specialty Caramel popcorn. As a way to reward their two young sons for having a productive day at school and to teach them about business and entrepreneurship, Monique and Ben Evans along with their sons, Ethan and Collier started E & C Popcorn Company, and this families love of popcorn was born

TOP 5 BLACK OWNED BUSINESS RUN BY CHILDREN

Posted on December 22, 2015 By Staff With 18 comments

MEET THE WOMAN TAKING THE NATURAL HAIR INDUSTRY TO A WHOLE NEW LEVEL, IAMMENATURALLY

M

Manicka Thomas is the CEO of Thomas Community Consulting LLC, which she started to assist nonprofit organizations and small business to begin  changing the conversation about their businessess….to begin focusing less on the problems that exist, and more on solutions that could be addressed through Public Relations campaigns, Event Planning, Community Outreach and Professional Development training opportunities.

In addition to being an entrepreneur, Manicka also worked at Sinclair Community College in the School and Community Partnerships Division. There, she coordinates the Seniors to Sophomores Program. As the Coordinator, she worked with rising high school seniors who enrolled full time at Sinclair, while simultaneously completing their high school graduation requirements.  In addition to these duties, she also serves as Chair for the Division Marketing Committee and works as an Adjunct Faculty member in the Social Work Program at Sinclair.

calender

Pre-Order Your Copy Of The 2016 Calendar.

1. Why am I in business?

I am in business to begin creating wealth for myself and my family. I want to create a business that I can pass down to my children. There is no better feeling then being your own boss, and spending time building something for yourself where you directly benefit. I’ve never wanted to spend my time working to build someone else’s business when I could spend time building my own.

2. How did you choose your business name. The overall name for my company is Thomas Community Consulting. I’ve always said, Thomas is who I am, Community is what I love, and consulting is what I do! Under the TCC brand is I Am Me Naturally No Lye, which is my give back initiative for nonprofits. I created a natural hair calendar for girls. I created this name by researching the power of the words “I AM’ for bringing positive changes into your life and because I wanted a name that embodied the mission of empowering mom and girls to love and embrace their natural hair no matter the length or texture.

long sleeve shirt.

Order Your “I AM ME NATURALLY NO LYE” wide-neck sweat shirt.

3. I started the I Am Me Naturally brand because I noticed a gap in the natural hair community where we were talking more about products and styles and less about how to own and control the products within this new industry we created. Furthermore, I did not see a lot of conversation in the community about how we could empower ourselves economically within the movement. I wanted to create a space for this dialogue to take place.

4. My background is in Social Work. I have a Masters degree in Social Work and am a Licensed Social Worker for the State of Ohio. I have an extensive background working in various social service positions in the nonprofit sector. I am also an Adjunct Faculty member at Sinclair Community College where I teach Cultural Competence in a Diverse World and Introduction to Social Work.

5. I started my business in 2011 and I work with nonprofit organizations on solving problems within their businesses that could be addressed by event planning, professional development training, PR and fund development. I also assist new organizations with applying for their 501c3 tax exempt status.

6. Business form: LLC

7. Advantages of LLC. Protects your personal assets in the case of getting sued. Creates a vail between my personal assets and asset acquired through the business

8. How did I acquire skills?

I made a lot of mistakes and asked a lot of questions. I would schedule meetings with business owners whose business models I liked. I also spent a large amount of time researching businesses and reading various books on business development. I also have gained transferable skill set from the jobs at which I worked

9. Where do I see my business in the next 5 years? I would like to acquire an office space. Any small business owner can attest to the fact that the hardest part of starting a business, especially a black owned business, is access to capital. My goal is to build my business credit so that I can have a physical space to operate and to be able to hire at least 2 employees.

10. No I do not have employees at this time.

11. What I learned from this interview is that I have made pretty significant progress in my business, having been the 1st in my family to start a business. There are also a few areas that I need to sure up, specifically, what would happen to my business if something where to happen to me

Manicka’s passion for her community is evident in her leadership roles and service. She has served as past Chair of the NAACP Education Committee and served as a member of Dayton Public Schools’ Accountability Panel. She currently serves as a Board of Trustee member for Wesley Community Center and is a 2012 graduate of the City of Dayton’s Neighborhood Leadership Institute.

 

Manicka has worked, for four years, as a Contributing Writer for the Dayton Weekly News, which is the longest running African American newspaper in the city of Dayton. She has published several articles on topic related to women’s health, community news activities and nonprofit fundraising events.

She participates actively in her local community by facilitating workshops, conducting training and working on various political campaigns. In May of 2014, Manicka was named by The Business Journal as one Dayton’s 40 under 40-area individuals under the age of 40 who are making a difference in their professions and communities.

She is frequently selected to speak at local conferences, training and seminars as an industry expert. Her work has been featured in key digital and print media publications such as Health Magazine.com.  In addition, Manicka often appears on Living Dayton: WDTN Channel 2 as an industry expert.

She graduated in 2005 from Freed-Hardeman University with a Bachelor’s degree in Social Work. She continued her education at The Ohio State University, receiving a Master’s degree in Social Work with a specialization in School Social Work in 2006. Manicka is also a Licensed Social Worker for the State of Ohio.

Would you like to carry  IAMMENATURALLY calendar in your establishment or business? Please contact Manicka directly.

Twitter: @IAmMeNaturally
Instagram: IAMMENATURALLY
Periscope: IAMMENATURALLY
To feature your business on BBNomics for #EachAndEveryFriday, click here.

 

Posted on December 4, 2015 By Staff With 0 comments

Teen Mogul Opens Spa & Boutique Exclusively for Children, Tweens, and Teens

essynce_moore_teen_owner_spa_boutique-500x263

Passaic, NJ — Youth entrepreneur Essynce Moore began her career at just 6 years old. Now, as a teenager, she is currently the owner of Essynce Couture, LLC, Essynce Couture University (ECU), Essynce Couture Publishing, and the center of growing channels of branding that includes careers in motivational speaking, acting, writing, and fashion. Essynce is also the author of the recently released 6th Grade Middle School Chronicles.

Teen Mogul Opens Spa & Boutique Exclusively for Children, Tweens, and Teens

She has proven that she has the “magic touch” once again as she prepares for the exclusive November 1st grand opening of her newest business venture, Essynce Couture Spa & Boutique with her 16 year-old cousin, Kalani Gomez. The Bomb Digz are special invited guests to the grand opening event.

The spa will specialize in trendy services for both boys and girls that include, but aren’t limited to manicures, pedicures, hair styles, private birthday celebrations, and more. Also, it will host powerful workshops that teach children about entrepreneurship, self-esteem, fashion, and real life experiences.

Essynce says she “works hard and plays even harder”, but says that “balance is necessary” when you are an honor student, actress and entrepreneur. She loves to recharge at the spa, or have a mobile spa party experience with her closest friends. Therefore, it is only right that she expands her brand to include an upscale oasis just for younger ones to enjoy a fun and rejuvenating spa experience, while checking out the latest fashion trends by Essynce Couture and other designers.

The spa is located at:
Essynce Couture Spa & Boutique
71 Market Street
Passaic, NJ 07055

For more details about the spa or her other ventures, visit www.essyncecouture.com

About Essynce Moore
Teenpreneur, children, tweens and teens stylist/fashion designer, actress, motivational speaker, and author Essynce Moore has been in various fashion shows, pageants, and karate tournaments. She was showcased in NY Fashion Week, and Atlanta Kids Fashion Week, featured in several interviews in magazines, TV, news, print, conferences, and is a member of the New York Youth Chamber of Commerce.

PRESS CONTACT:
Starr Barrett, Essynce Couture
(908) 977-6898
starrbarrett@gmail.com

Teen Mogul Opens Spa & Boutique Exclusively for Children, Tweens, and Teens

Source: http://www.blacknews.com/news/essynce-moore-teen-mogul-opens-spa-boutique-for-children-tweens-and-teens/#.VjKsr3FVhXk

Posted on October 29, 2015 By Staff