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Black Business

Less than half of Britain’s Black business owners – 43 percent – trust banks to support their interests, a new survey has revealed. The report, entitled ‘Black British In Business and Proud’, highlights the issue of structural racism in terms of accessing capital, and its impact on Black business owners. The research, which was sponsored by Lloyds Bank and undertaken by Savanta, surveyed 808 participants from Black communities in Britain – 345 of whom were Black business owners. It revealed that Black business owners are 21% more likely to be self-financed than

Like many industries, the tech sector still has some way to go in addressing diversity and bias issues and although there has been some progress with big companies like Google creating initatives specifically for minority communities – the work shouldn’t and doesn’t stop there. After diverse intake in companies – what roles are they being given, the salary disparity once in the role, the treatment among colleagues and the handling of racism allegations. We’ve heard countless of stories of Black employees and their allies being sidelined for speaking out against

Rapper IDK and Credit Karma are teaming up to encourage financial management, literacy, and the importance of credit. There will be an opportunity for business owners and those seeking to clear debt to secure a $10,000 prize to pay off the outstanding debt by competing in a contest. Participants who tap in will need to share their stories on how they collected debt and what steps they are implementing to eliminate their debt.  This needs to be done for the chance to be one of five people to win $10,000 to be used

A 17-year-old student at Iowa City West High School has invented color-changing sutures to detect infection and is now set on getting it patented. Working with an eye on equity in global health, Daisy Taylor hopes that the color-changing sutures will someday help patients detect surgical site infections as early as possible so that they can seek medical care when it has the most impact. Daisy began working on the project back in October 2019, after her chemistry teacher shared information about state-wide science fairs including the Science Talent Search

The Black-owned Nourish + Bloom Market is about to disrupt traditional grocery stores as it becomes the first minority-owned autonomous grocery store in the US. It’s set to open on December 17th in Fayetteville, Georgia, featuring “frictionless shopping.” This means that customers will be able to walk in, grab what they need, and leave without waiting in line or stopping to scan and pay, especially helpful in this “new normal” post-pandemic world. They will simply have to scan a QR Code from Nourish + Bloom’s app that connects to their digital wallet

The technology industry’s academic and professional spaces have a long reputation of exclusivity and discrimination that has led to an industry that is predominantly all white and male – but some people are working hard to change this picture. POCIT sat down with Rose Robinson, Executive Director of Center for Minorities and People with Disabilities in IT (CMD-IT), for an in-depth conversation on the barriers facing people of color with disabilities in tech. Robinson has more than 25 years under her belt. Her role at CMD-IT means she can use

A Chicago startup that uses AI to help people better leverage their professional network is part of the newest cohort of startups selected as part of the Northwestern Mutual’s Black Founder Accelerator program. 4Degrees, led by CEO Ablorde Ashigbi and CTO David Vandegrift, will receive a $100,000 investment as part of the 12-week program. It will also work alongside Northwestern Mutual and its accelerator partner gener8tor to help grow its business. The company, launched by Ashigbi and Vandegrift, two former investors at Pritzker Group Venture Capital, back in 2017 was

The banking institution has pledged $10 million to one of the leading private liberal arts Historically Black Colleges and Universities (HBCUs) in the South. According to a press release, the funds are a part of Bank of America’s Mayor’s Racial Equity Initiative in the Charlotte, NC region. It includes a $1.25 billion five-year commitment to create more economic opportunities and push racial equality within local communities. In an official statement, Kieth Cockrell, President of Bank of America Charlotte, said: “Our long-term relationship with JCSU has set the foundation for this critical moment – a

A sequel on the piece of Black founders profitable without Venture capital. Not all startups reach the promised land of VC funding. Not all startups require VC funding to be successful. With the odds stacked against Black and Brown entrepreneurs, they typically need to find other ways to innovate and grow. Money isn’t always easy to come by. Bootstrapping means launching and growing your startup using your personal financial resources. See how these Black women founders left behind the “scale no matter what” mentality. Instead, they built their startups into successful, profitable

Florida A&M University has received a $100,000 grant from Wells Fargo to launch a small business incubator to assist women and minority-owned businesses. The grant will advance hiring initiatives for a program manager to oversee operations of the incubator and modernize an existing location for entrepreneurs to call home. Funding will also enable the incubator’s staff to support program participants in exploring the feasibility of their business concepts, launching, expanding, and scaling their businesses. The remaining funds will support future marketing and promotions throughout the development of the project. The

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