Calling all black-owned beauty businesses! SEPHORA and Fifteen Percent Pledge have launched a new grant offering Black entrepreneurs in the beauty sector up to $100,000. To qualify, your brand must have a minimum annual revenue of $100,000 and been operational for at least two years. The grant is aimed at tackling the imbalance in beauty industry funding. In 2022, Black start-up founders received just $264 million of $33.6 billion in capital allocated - which equated to less than 1%. Applications close on 18th December; you can find the link to apply in the comment section below. #Funding #BeautyIndustry #Blackpreneur #BlackBusiness #SupportBlackBusiness
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"America’s 3.12 million Black-owned businesses generate $206 billion in annual revenue and support 3.56 million U.S. jobs, according to a new Brookings Institute report entitled Black-Owned Businesses in U.S. Cities: The Challenges, Solutions, and Opportunities for Prosperity. Many successful Black entrepreneurs are household names. Jay-Z, built upon his success as a hip-hop artist by launching commercial ventures, including Rocawear, a hip hop clothing brand founded in 1999 with Damon Dash, his co-founder in Roc-A-Fella Records, and Roc Nation, a multi-disciplinary entertainment agency in 2008. Based on his business success, Jay-Z has achieved billionaire status." Read more on the Forbes article on Rohit Arora's Five Keys to the Success of Black -Owned businesses: https://lnkd.in/eMEFDDUg #forbes #blackownedbusinesses #article #fintech #smallbusiness #finance
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We caught up with four amazing female founders at The Big Gear Show to ask them what surprised them about becoming an outdoor industry business owner. Sara Chen of Pangoo Apparel, Georgia Grace Edwards of Gnara, Alina Drufovka of Abstract Hikes, and Pooja Naik of Good Detour share their answers here! So proud of the outdoor founders we got to hang out with at The Big Gear Show and also at our Founder Happy Hour that weekend! We have another Happy Hour for founders at Outdoor Retailer on June 17th. It's open to founders in our free community. If you haven't applied yet to the Founded Outdoors community yet, do it now to join us, in comments! #femalefounder #smallbusiness #womanowned #entrepreneurship
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Introducing our striking new black logo! The choice of black in our new logo signifies strength, authority, and timeless sophistication. It's a bold statement reflecting our strong commitment to excellence in every aspects of our work within Promotion, Marketing & Sales. Moreover, the incorporation of "Beyond" and "Elevate" into our logo speaks volumes about our ethos. We go beyond conventional approaches, pushing boundaries to innovate and surpass expectations. "Elevate" conveys our mission to lift our brand to new heights, empowering with strategies that set apart in the competitive landscape. Join us as we go beyond the ordinary and elevate our brand to extraordinary heights! . . . . . #innovation #management #digitalmarketing #socialnetworking #motivation #personaldevelopment #jobinterviews #sustainability #technology #creativity #futurism #startups #marketing #socialmedia #business #networking #hiring #health #inspiration #personalbranding #education #productivity #travel #sales #socialentrepreneurship #fundraising #law #strategy #culture #fashion #india #humanresources #technology #creativity #future #entrepreneurship #careers #markets #marketing #venturecapital #leanstartups #economy #economics #ecommerce #strategy
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Black founders carry a markedly higher burden when it comes to educating investors on the value and viability of their business ideas — but there is an art and science behind knowing when your brand is ready and what kind of investors will be the best fit. Black founders in the US raised 0.48 percent of all venture dollars allocated last year, according to the latest data from Crunchbase — marking the third straight year of declines. The only significant bump in recent history came in 2020 when a record-breaking amount of capital went to Black businesses as investors promised to help level the playing field for minorities in the wake of the murder of George Floyd (but even that was less than 1 percent). There are many reasons driving the dearth of funding going to Black business — but chief among them, experts say, is that Black founders carry a markedly higher burden when it comes to educating investors on the value and viability of their business ideas. This challenge is particularly pronounced in industries like beauty, where predominantly white male investors may have limited awareness of the value proposition for products targeting Black or multicultural consumers. What’s more, due to historic exclusion, Black founders often lack experience and the tools to navigate the complex fundraising environment. It doesn’t help that bootstrapping founders tend to only seek funding when they urgently need it, which often puts them at a disadvantage early on. When it comes to raising money, there is an art and science behind knowing when your brand is ready and what kind of investors will be the best fit. Read the the final story in a three-part series, by BoF's Sheena Butler-Young.
How to Raise Money as a Black Beauty Brand
businessoffashion.com
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If you could have dinner with anyone dead or alive who would it be? For me - Barbe-Nicole Ponsardin, better known as the Widow Clicquot or Veuve Clicquot. __ In an era when women were denied even the basic right to hold their own bank accounts, the Widow Clicquot shattered glass ceilings and laid the foundation for what we now celebrate as modern entrepreneurship. After the untimely death of her husband in 1805, Barbe-Nicole took over the family's small wine business at the age of 27. Despite societal constraints and fierce competition, she transformed it into a global powerhouse. Her innovations, such as the riddling table, revolutionised the Champagne industry by significantly improving the clarity of the sparkling wine, setting a new standard of excellence that continues to this day. The Widow Clicquot's story is not just about business acumen; it's about resilience, foresight, and the relentless pursuit of quality. She navigated the turbulent waters of the Napoleonic Wars, leveraging her keen understanding of international markets to expand her business across Europe, even smuggling her Champagne to Russia during the blockade. Her bold moves and unyielding spirit earned her the title, "La Grande Dame de la Champagne." The Widow Clicquot is a trailblazer who paved the way for women in business. Her story is a powerful reminder of what can be achieved with determination and innovation, regardless of the barriers in our way. I think this might just call for a night at the cinema, popcorn and champagne and the opportunity to get inspired by the tale of a woman who defied the odds and left an indelible mark on the world. 🍾 #WomenInBusiness #Entrepreneurship #Innovation #VeuveClicquot #ChicksToTheFlicks #Trailblazer #Inspiration
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Black women make up less than 10% of the U.S. population, but they’ve emerged as the fastest-growing group of entrepreneurs, new research from GoDaddy has found. The number of Black women-owned businesses in the U.S. was trending upward even before the Covid-19 pandemic, which accelerated entrepreneurship overall. Between 2017 and 2020, the number of Black women-owned businesses increased by nearly 20%, far exceeding the growth of women-owned businesses and Black-owned businesses overall, the Brookings Institution reports.
Black women are the fastest-growing group of entrepreneurs in the U.S.—meet 3 who grew their side hustles into successful businesses
cnbc.com
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Creating a company that is of a niche that not many get to experience is a challenge to say the least. Once I realize how to combine my “WHY” with the Yacht experience, I quickly set out to build a successful business. Russell Innovation Center for Entrepreneurs has been a great resource for my entrepreneurial journey, and I will continue to be an advocate for the black community by leading by example. Check out Mastercard lastest article that describes how YCA has accomplished overarching goals while being a stakeholder at RICE. https://lnkd.in/ebDHwJup
In Atlanta, making sure Black-founded startups don’t stop
mastercard.com
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From papergirl to CEO. This is how Emma Grede went from local paper routes to high-profile collaborations with Natalie Portman and the Kardashians. Raised in East London by a single mother, Grede had no business role models in her life. Yet today, she's the force behind Good American and a pivotal figure at SKIMS, valued at $4 billion, working alongside Khloé and Kim Kardashian. Emma's beginnings are particularly inspiring. Her first job was a paper route at age 12, followed by work in a sandwich deli and a restaurant. Her early experiences, though simple, were the foundation of her remarkable business skills. It’s a great reminder to always think of your tiny steps as the quiet builders of great things. As I read about Grede's upbringing, a key lesson from her mother stuck with me: “Listen, Emma. You’re not better than anyone else, nor is anyone better than you.” This insightful guidance was crucial in molding her understanding that while we are all equal, the potential for achievement knows no bounds. In 2008, Emma's entrepreneurial spirit led her to establish ITB Worldwide, attracting clients like Natalie Portman. This venture set the stage for her later successes with the Kardashians, turning her brands into multi-million dollar enterprises. Her story reinforces the belief in the power of hard work, humility, and confidence. Emma's approach? “I always felt like if I worked hard enough and I really put everything into it, that I could achieve.” And indeed she has, amassing a cool $320 million in net worth. From papergirl to power suits, Grede's story shows that sometimes the path to the boardroom winds through the humble streets of a paper route. Shoutout to Megan Sauer at CNBC for inspiring this piece. #entrepreneurship #businesssuccess #womeninbusiness #leadershipjourney #inspirationalstories
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Even with efforts to boost and finance Black entrepreneurship, Black-owned businesses made up only 3% of all U.S. companies in 2021, despite Black people representing 14% of the population. This #BlackBusinessMonth, take action to help address these disparities. Explore how you can support Black-owned B Corps this August and beyond: https://lnkd.in/eDx26RQp
Shop Black-Owned B Corps
https://usca.bcorporation.net
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You can apply for The Sephora Beauty Grant here: https://15percentpledge.org/award-sephora