Editorial credit: Leonard Zhukovsky / Shutterstock.com Despite a gradual slowdown in investment opportunities for Black businesses, Daymond John is determined to rewrite the narrative through Black Entrepreneurs Day. John, CEO of FUBU and co-star of ABC’s “Shark Tank,” started Black Entrepreneurs Day in 2020 to celebrate innovation and enterprise in the Black community. Black Entrepreneurs Day, […]
Editorial credit: lev radin / Shutterstock.com By ESPN News Services and The Associated Press | September 26, 2023 NEW YORK — Magic Johnson’s love for his Los Angeles Lakers has kept him from considering ownership of any other NBA team. The New York Knicks would be the one franchise that could make him have second thoughts. “I think it […]
Black entrepreneurs who expanded during COVID now face the challenge of labor shortages, supply chain delays and inflation.
By Tracy Jan, Washington Post The rib joint and whiskey bar that Terri Evans opened in the South Loop of Chicago with her 401(k) savings drew mostly tourists and convention-goers — until the coronavirus pandemic and stay-at-home orders swept the country beginning March 2020. Evans worried about keeping her 12 full-time employees on the payroll. […]
The number of Black small-business owners was 28% higher in the third quarter of 2021 than it was pre-pandemic.
By Sharon Lurye, US News The city of Pittsburgh has historically struggled to lift up Black businesses, having the lowest rate of Black business ownership of any large city in the U.S. But around 2020, things started to change. In a normal year, the local Urban Redevelopment Authority gives out around 30-50 loans. In 2020, […]