By Michelle Loredo
COVID-19 has affected all businesses across the country, but black business owners have been hit the hardest. According to Forbes, black-owned business owners face a decline in business of 41 percent versus their counterparts.
To help counter this, the UH SBDC Network and our 14 different centers are here to help you with your business needs. We have put together 10 small business resources for black-owned small businesses.
Acción International is a global nonprofit that aims to create a financially inclusive world for all business owners. They offer financial advising, investment in communities, partnerships with community partners and influence financial industry leaders to help communities. They aim to help small businesses improve their financial literacy and be competitive in the market.
Full Details Here: bit.ly/3smfD6E
Coalition to Back Black Businesses
The Coalition to Back Black Businesses is a grant initiative aimed to help black-owned businesses. It was created in Sept. 2020 to help black business owners that had been negatively affected by the pandemic.
To qualify for the grant, your business must be at least 51 percent Black-owned, have three-to-20 employees, not be part of a corporation, or have 250 stores.
The grant is $5,000 and offers mentoring, enhancement grants and online business resources for long-term success.
The application closes on Sept. 2021, and approximately 300 people will receive the grant.
Full Details Here: bit.ly/30r81ns
Black Business Association (BBA)
The Black Business Association has advocated for Black business owners since 1970. It offers Black entrepreneurs networking opportunities, training, procurement, financial access and support.
Full Details Here: bit.ly/3t4O9Cz
Blax is a Black-owned business directory that helps find and connect with Black-owned businesses. To become a member and add your business, you can choose one of the three plans. Depending on the plan you choose, you will have different perks.
Full Directory Here: bit.ly/38lG1Wp
Black Owned Everything
Black Owned Everything started as an Instagram page that promoted Black businesses and has grown into a movement. It aims to “support Black-owned businesses, celebrate Black creators, and participate in an inclusive, unified community.” It concentrates on lifestyle, health, fashion and jewelry businesses.
You can apply to become part of the Black Owned Everything business marketplace.
Black Founders was founded in 2011 and aims to help black businesses gain success in the technology field. They provide mentorship, events and funding opportunities. They host HBCU hackathons and conferences.
Full Details Here: bit.ly/3rumj2q
Official Black Wallstreet
Official Black Wallstreet aims to help you connect with your local Black-owned businesses, give Black owners exposure through high-quality listings. Becoming part of their listing can help you show on top of search results, better customer interactions and improve your sales.
Full Details Here: bit.ly/2PNCTML
DreamSpring is an award-winning non-profit that aims to increase access to credit and other financial opportunities to small business owners.
It offers loans of up to $2 million at flexible rates and requirements.
Full Details Here: bit.ly/2OAaY22
National Minority Supplier Development Council
The National Minority Supplier Development Council aims to help minority-owned businesses by connecting them with corporations and helping them receive certifications.
Full Details Here: bit.ly/3boQ0fI
U.S. Black Chambers
The U.S. Black Chambers mission is to help support the African American Chambers of Commerce and Black businesses in the United States. They focus on advocacy, access to capital, contracting, training and local chamber development.
Full Details Here: bit.ly/2OxkcMD