May 6, 2024 • 8 mins
News Anchor Doug Davis talks with Interise CEO Darrell Byers about Streetwise MBA, a seven-month program in which Black business people meet every other week to learn strategies about gaining access to capital and developing a three-year growth strategy for their businesses.
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(00:00):
And now News anchor Doug Davis bringsus his conversation with Darryl Byers, CEO
of Enterprise. It starts with aneye. It's an organization dedicated to growing
black and women owned businesses. Enterprisejust received a big multimillion dollar grant,
so business owners be sure to graba pen and pad for this discussion.
(00:20):
Doug, Hey, Thanks Mike.My name is Doug Davis, and welcome
to Your Black Business, where wefeature inspiring stories of black entrepreneurs, organizations
and perspectives surrounding black business. We'reback with Darryl Bayer, CEO of Enterrise,
and organization dedicated to fostering the developmentof small businesses owned by minorities and
women. The company has been awardeda generous two million dollar grant. While
(00:42):
the yield giving foundation initially set atone million dollars, the grand amount was
increased in recognition of Edderrice's significant potentialfor impact. The foundation, created by
philanthropist Mackenzie Scott and in collaboration withLever for Change, aims to amplify the
growth and reach of such pivotal enterprises. Mister Biers, welcome back to the
BI In we left off with youdiscussing the qualifications for your program that these
(01:06):
funds will be attached to. Whatspecific challenges facing black owned businesses does Enterrise
aim to address with this grant.Yeah, you know, it's a very
good question because you know, typicallyI was not an advocacy organization, but
we see this as a very importanttime for black businesses. As you know,
with the recent Supreme Court decision,I don't think people realize how much
(01:32):
they expanded, and there's been challengesto organizations that look to prioritize funding or
providing capital for black businesses, andin some cases it's been found unconstitutional to
provide that funding. The SBA hasto change their whole structure around their A
to A program because their original programwas found to be unconstitutional, unconstitutional by
(01:57):
a federal court. So we seeit. We see this as a very
critical time in the coming year,coming two years for black and brown businesses
because what we eventually see happening isthis question going again in front of the
Supreme Court, just like it didfor higher education, and we want to
make sure that we'd be able toinfluence that decision in some fashion. Absolutely,
(02:23):
another question, in what ways doyou think the grant will contribute to
closing the racial wealth gap experience byBlack Americans through business ownership. So yes,
of course, as I stated,early wants growing business, growing businesses
that take our course. But youknow we're also a research organizations, so
we see this as an opportunity toopportunity to expand our research to really make
(02:46):
Enterize the place that you turn toto look for information on growing a black
business, the data that people arelooking for, the outcomes that occur when
you grow black and brown businesses.So we want to use this a grant
to expand our research so you know, more of the general public or more
(03:09):
of those the corporations out there thathave been promising these funds for years and
private foundations understand the positive effect thattheir investment will have in organizations like Terrize
and by providing technical assistances assistance toblack and brown business right, and which
(03:30):
probably leads to this question, arethere any successful metrics or goals that Interrise
has set or already has in place, let's say that can measure the impact
with the grant and your success onblack owned businesses. Sure, you know,
what we do know is our programworks, so you know, we've
been compiling data for twenty years.You know, one thing, we survey
(03:53):
all of our businesses and you knowfrom the time you start day one,
you start taking the course on whatyou're finding valuable about it, until three
years after you graduate, and evenfurther about what you learn, how it's
affecting your business, and what you'velearned since taking our course. What we
do know is that businesses who takeour course roll thirty six percent. Businesses
(04:17):
that take our course and become getlarge contracts or contracts with anchor institutions,
you know, the city, state, federal government contracts, or those large
corporations, they grow in particularly,we know that seventy percent that black owned
businesses and low income neighborhoods grow byseventy percent after taking our course. So
(04:42):
all we're doing is providing the toolsthat makes for a level playing field.
And once again, this is ourresearch will show. This is what our
twenty years of helping businesses continues toshow. Finally, any partnership, the
collaborations with black community organizations or leaders, are they maybe being leveraged to try
(05:05):
to maximize the grant's reach and effectiveness. Sure, well, we're going to
be looking to continue our partnership.We've been working with the Urban League of
Western Massachusetts and the Urban League ofEastern Massachusetts. That's just in Massachusetts.
You know. We we have partnershipsacross the country, you know, the
Delaware Black Chamber or Commerce we do. We do a lot of work with
(05:28):
the Urban League done in Tennessee.We do a lot of work with and
we have corporate partners you know.We we've done a lot of work with
Honeywell in the Boston area. Youknow, we've been funded by Eastern Bank,
TV Bank and Citizens Think and manymany more. So, uh,
you know, it's hard to sayone partnership. We talk about an organization
(05:50):
that's been in eighty cities nationally aroundthe country, but there's many partners out
there that we look forward to tocontinue that partnership. But that's great for
folks who may not know about thestreet Wise program, could you give them
the rundown so they're aware and thenfollow up. Yes, this is a
very intensive It's a seven month programand you meet every other week for three
(06:13):
hours and you have homework in betweenthose meetings too. So the first thing
you do is develop a three yearstrategic growth plan. And as you take
the five modules that are associated withthe course, and just to name a
couple of the two most popular onesI find is access and capital and understanding
your finances and and you continue towork on your three year growth plan.
(06:36):
So that's seven months seven months.You have a very polished plan that you
can take and work on in thecoming years to continue to grow your business.
A lot of people use that planto bring to financial institutions to access
that capital that we that we've discussed. So but you have to really really
(06:58):
willing, be willing to make aninvestment in yourself. But the reward is
amazing. So you know, wehear a lot. I don't have the
time to invest that much time intaking this the street Wise MBA, but
I promise you the results speak forthemselves. So what's the cost. It's
(07:20):
very affordable. There's no cost toit. So that's that's a great thing
about it. The street Wise programis free. The street Wise program is
free. I spend a lot ofI spend a lot of my time traveling
around the country finding the funding tomake sure that it's free. Because we're
(07:40):
going to make sure that's accessible tothe people who need it most. And
that's why some of those companies Ijust mentioned earlier, why they're so important,
Why the Eastern Bank TV bank,Honeywell, that's why it's so important
that those funds are provided so thatthe companies can take this course for free.
(08:03):
Wow, hit me with that websiteone more time, sir. Sure
we're at www. Entrize I NT E R I SC dot org.
Daryl Byers, CEO of Terrise,thank you so much for the work that
you do for the black community.This is Doug Davis. You're listening to
your Black business on the Black Perspective. Thanks Doug, and that's our program
(08:24):
for this week. For more onthese stories, listen to the Black Information
Network on the free iHeartRadio app orlog onto bimnews dot com where you can
hear this program and the latest newsaffecting the black community. Also follow us
on social media at Black Information Networkand on x formerly known as Twitter at
(08:45):
black info Net. Thanks for listening, and be sure to join us next
week at this time for another editionof the Black Perspective right here on the
Black Information Network
And now News anchor Doug Davis bringsus his conversation with Darryl Byers, CEO
of Enterprise. It starts with aneye. It's an organization dedicated to growing
black and women owned businesses. Enterprisejust received a big multimillion dollar grant,
so business owners be sure to graba pen and pad for this discussion.
(00:20):
Doug, Hey, Thanks Mike.My name is Doug Davis, and welcome
to Your Black Business, where wefeature inspiring stories of black entrepreneurs, organizations
and perspectives surrounding black business. We'reback with Darryl Bayer, CEO of Enterrise,
and organization dedicated to fostering the developmentof small businesses owned by minorities and
women. The company has been awardeda generous two million dollar grant. While
(00:42):
the yield giving foundation initially set atone million dollars, the grand amount was
increased in recognition of Edderrice's significant potentialfor impact. The foundation, created by
philanthropist Mackenzie Scott and in collaboration withLever for Change, aims to amplify the
growth and reach of such pivotal enterprises. Mister Biers, welcome back to the
BI In we left off with youdiscussing the qualifications for your program that these
(01:06):
funds will be attached to. Whatspecific challenges facing black owned businesses does Enterrise
aim to address with this grant.Yeah, you know, it's a very
good question because you know, typicallyI was not an advocacy organization, but
we see this as a very importanttime for black businesses. As you know,
with the recent Supreme Court decision,I don't think people realize how much
(01:32):
they expanded, and there's been challengesto organizations that look to prioritize funding or
providing capital for black businesses, andin some cases it's been found unconstitutional to
provide that funding. The SBA hasto change their whole structure around their A
to A program because their original programwas found to be unconstitutional, unconstitutional by
(01:57):
a federal court. So we seeit. We see this as a very
critical time in the coming year,coming two years for black and brown businesses
because what we eventually see happening isthis question going again in front of the
Supreme Court, just like it didfor higher education, and we want to
make sure that we'd be able toinfluence that decision in some fashion. Absolutely,
(02:23):
another question, in what ways doyou think the grant will contribute to
closing the racial wealth gap experience byBlack Americans through business ownership. So yes,
of course, as I stated,early wants growing business, growing businesses
that take our course. But youknow we're also a research organizations, so
we see this as an opportunity toopportunity to expand our research to really make
(02:46):
Enterize the place that you turn toto look for information on growing a black
business, the data that people arelooking for, the outcomes that occur when
you grow black and brown businesses.So we want to use this a grant
to expand our research so you know, more of the general public or more
(03:09):
of those the corporations out there thathave been promising these funds for years and
private foundations understand the positive effect thattheir investment will have in organizations like Terrize
and by providing technical assistances assistance toblack and brown business right, and which
(03:30):
probably leads to this question, arethere any successful metrics or goals that Interrise
has set or already has in place, let's say that can measure the impact
with the grant and your success onblack owned businesses. Sure, you know,
what we do know is our programworks, so you know, we've
been compiling data for twenty years.You know, one thing, we survey
(03:53):
all of our businesses and you knowfrom the time you start day one,
you start taking the course on whatyou're finding valuable about it, until three
years after you graduate, and evenfurther about what you learn, how it's
affecting your business, and what you'velearned since taking our course. What we
do know is that businesses who takeour course roll thirty six percent. Businesses
(04:17):
that take our course and become getlarge contracts or contracts with anchor institutions,
you know, the city, state, federal government contracts, or those large
corporations, they grow in particularly,we know that seventy percent that black owned
businesses and low income neighborhoods grow byseventy percent after taking our course. So
(04:42):
all we're doing is providing the toolsthat makes for a level playing field.
And once again, this is ourresearch will show. This is what our
twenty years of helping businesses continues toshow. Finally, any partnership, the
collaborations with black community organizations or leaders, are they maybe being leveraged to try
(05:05):
to maximize the grant's reach and effectiveness. Sure, well, we're going to
be looking to continue our partnership.We've been working with the Urban League of
Western Massachusetts and the Urban League ofEastern Massachusetts. That's just in Massachusetts.
You know. We we have partnershipsacross the country, you know, the
Delaware Black Chamber or Commerce we do. We do a lot of work with
(05:28):
the Urban League done in Tennessee.We do a lot of work with and
we have corporate partners you know.We we've done a lot of work with
Honeywell in the Boston area. Youknow, we've been funded by Eastern Bank,
TV Bank and Citizens Think and manymany more. So, uh,
you know, it's hard to sayone partnership. We talk about an organization
(05:50):
that's been in eighty cities nationally aroundthe country, but there's many partners out
there that we look forward to tocontinue that partnership. But that's great for
folks who may not know about thestreet Wise program, could you give them
the rundown so they're aware and thenfollow up. Yes, this is a
very intensive It's a seven month programand you meet every other week for three
(06:13):
hours and you have homework in betweenthose meetings too. So the first thing
you do is develop a three yearstrategic growth plan. And as you take
the five modules that are associated withthe course, and just to name a
couple of the two most popular onesI find is access and capital and understanding
your finances and and you continue towork on your three year growth plan.
(06:36):
So that's seven months seven months.You have a very polished plan that you
can take and work on in thecoming years to continue to grow your business.
A lot of people use that planto bring to financial institutions to access
that capital that we that we've discussed. So but you have to really really
(06:58):
willing, be willing to make aninvestment in yourself. But the reward is
amazing. So you know, wehear a lot. I don't have the
time to invest that much time intaking this the street Wise MBA, but
I promise you the results speak forthemselves. So what's the cost. It's
(07:20):
very affordable. There's no cost toit. So that's that's a great thing
about it. The street Wise programis free. The street Wise program is
free. I spend a lot ofI spend a lot of my time traveling
around the country finding the funding tomake sure that it's free. Because we're
(07:40):
going to make sure that's accessible tothe people who need it most. And
that's why some of those companies Ijust mentioned earlier, why they're so important,
Why the Eastern Bank TV bank,Honeywell, that's why it's so important
that those funds are provided so thatthe companies can take this course for free.
(08:03):
Wow, hit me with that websiteone more time, sir. Sure
we're at www. Entrize I NT E R I SC dot org.
Daryl Byers, CEO of Terrise,thank you so much for the work that
you do for the black community.This is Doug Davis. You're listening to
your Black business on the Black Perspective. Thanks Doug, and that's our program
(08:24):
for this week. For more onthese stories, listen to the Black Information
Network on the free iHeartRadio app orlog onto bimnews dot com where you can
hear this program and the latest newsaffecting the black community. Also follow us
on social media at Black Information Networkand on x formerly known as Twitter at
(08:45):
black info Net. Thanks for listening, and be sure to join us next
week at this time for another editionof the Black Perspective right here on the
Black Information Network
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