February claims both Valentine’s Day and Black History Month – show Black-owned businesses some love this February and year-round!
Black entrepreneurs have historically struggled to secure financing for their businesses due to both systemic racism and unconscious bias in the financial world: “There are only four Black CEOs of S&P 500 companies (it’ll be five in March, when the sole Black female CEO takes the helm), only 9% of businesses are Black owned and roughly 1% of Black-owned businesses have received venture capital funding.”(Forbes) This is slowly changing but not fast enough. Accion Opportunity Fund is committed to accelerating that change for entrepreneurs of color through affordable, responsible loans; establishing partnerships with community leaders and organizations; promoting research and financial education; and advocating for progressive policy changes. But the story isn’t about us – it is about the entrepreneurs and their communities.
“An additional 6.1 million jobs a year and $13 trillion in business revenue could have been generated over the last two decades if Black entrepreneurs had fair and equitable access to credit”(Bloomberg Businessweek)
This Black History Month, honor entrepreneurs of color by patronizing their businesses. We’ve curated a small list of some of our Black-owned business clients. Each of these featured small business owners have accessed fair financing and/or helpful business resources from Accion Opportunity Fund.
Here are some of the Black-owned businesses we’re proud to support:
Based in Berkeley, Cupcakin’ bakes fresh, artisan cupcakes using premium and local ingredients. Check out their vegan and gluten-free options!
Bloom & Plume Coffee is a Black family-owned coffee shop that builds beloved community.
The Red Door Catering offers beautiful, boxed seasonal treats – and prix fixe menus to order especially for Valentine’s Day.
Natural Do is a membership salon and retail store offering natural hair care products specifically formulated for people with kinky, curly, or wavy hair.
Sea Pony Couture is a fine inlay jewelry collection known for its sleek, vibrant stonework.