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Black-owned business, sign outside restaurant, Queens, New York. (Photo by Lindsey Nicholson/Education Images/Universal Images Group via Getty Images)
Education Images/Universal Images Group by Getty Images
“And I’m still grinding here/I need equity to sign the deal.” – Lil Baby
What’s up, everyone!
It’s no secret that Black-owned businesses can be powerful vehicles for economic empowerment and closing the racial wealth gap in the Black community. And, as recently as Forbes Black businesses can be vessels of culture and diversity—from creating spaces that resonate with Black consumers to betting on Black voices and talent. In honor of National Black Business Month, it’s worth highlighting some of these stories.
Earlier this month, I reported on how black millennials are redefining the weekend and how black restaurateurs are catering to their needs. A major departure for these business owners is that while they serve all ethnicities, they make no apologies for creating experiences that are comfortable for black diners. Houston is one of the hot spots for black brunch, so check out a video featuring two entrepreneurs who were early adopters of this trend.
Also on the for(bes) culture radar is a story by staff writer Maggie McGrath about Incredible Health, which recently raised $80 million for a $1.65 billion investment and is led by a black female founder. And reporter Ariana Johnson recently spoke with Ayesha Curry about her venture into the world of book publishing in Sweet July, in part to give a platform to women authors of color.
But it’s not all gravy. Black-owned businesses account for only 2.3% of all US businesses (those with at least two employees), while the US black population is 13.6%. In light of this, it’s worth checking out this cover story by staff writer Will Yakowicz on the legal cannabis business. Legalizing weed has long been seen as an effort that could create viable entrepreneurial avenues, especially for many black Americans who are disproportionately charged with selling it. So far, such viability seems doubtful, as some of the most well-sourced pottery businesses are in dire straits.
The last thing I’ll share is about Gracie’s Corner, a super catchy YouTube series of children’s songs (Heyyyyy, Bingo!), which has been racking up millions of views. Raquel “Rocky” Harris will be speaking with the family behind it today at 3pm ET on Instagram Live. (Full interview here)
stay up!
Ninechia Afriyie, also known as Chef Nana, is the manager at Houston’s Bar 5015, one of several establishments that offer black brunch to visitors.
Jared Council
Black Millennium Brunch transforms from staid buffets to fashionable Insta-worthy date parties. Dressing up for “Sunday Fun Day” and flocking to restaurants for chicken and waffles, endless mimosas and DJs playing hip-hop are just a few of the “black brunch” trends.
Iman Abuzeid, Founder and CEO of Incredible Health.
Incredible health
Dr. Iman Abuzeid led Incredible Health to unicorn status with $80 million Series B. Iman Abuzid launched the nurse recruitment startup Incredible Health in 2017 to help healthcare workers find permanent positions. Five years later, she led the company to a $1.65 billion valuation, becoming one of the few black female founders at the helm of a unicorn company.
Amber Senter, CEO of Oakland-based pot company MAKR.
Jamel Toppin for Forbes
Weed vs. Greed: How America Stirred Legal Pot. Due to excessive regulation and taxation, the US government has cashed in on the easiest revenue opportunity to date – legal drugs. “What is legalization doing to small business owners like myself?” asks Amber Senter, CEO of MAKR, a maker of pot-infused foods and other supplies. “It’s killing us.”
Ayesha Curry stood in the kitchen.
Zando and sweet July books
Ayesha Curry adds book publishing to the Sweet July brand through a new partnership. Carrie told him. Forbes She said that she has recently signed an agreement with Zando, a start-up book publishing company, to publish books under Sweet July Books Publishing or under the trade name. She said she emphasizes giving a platform to writers of color in an industry where 76 percent of publishing staff, reviewers and literary staff are white.
“[I]Ignoring female CEOs or black CEOs may not be a good idea. Because they are driving huge value in business. You ignore it at your own expense.
–Iman AbuzeidFounder and CEO of Incredible Health
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