Get The Scoop On Why Smart Policy, Public Support Is Essential To Black Business

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Smart Policy, Public Support Is
Essential To Black Business

Equal opportunity employers: When Black businesses thrive, the entire economy thrives, according to Phil Andrews, who says governments, lenders and other difference-makers have an obligation to help minority-owned businesses succeed. 

By Phil Andrews

To close out Black Business Month, let’s celebrate the dramatic increase in Black entrepreneurship and confront the challenges that still exist.

To overcome discriminatory lending practices and inadequate financial support, Black business owners have always been innovative and adaptable. They’ve built their own support networks through empowering organizations like the Long Island African American Chamber of Commerce (LIAACC) and the African American Small Business Foundation. The success of these organizations is measured by how member businesses increase their revenue, employ more people and bolster the net worth of their enterprises.

Black business owners have also built thriving communities online. Digital platforms have become a crucial tool, leveling the playing field and bypassing many of the gatekeepers that have historically undermined economic success in our communities.

The rise of digital platforms has brought a new wave of opportunities for Black entrepreneurs. With just a smartphone and a vision, Black business owners can now reach global markets, access vital resources and scale their ventures in ways that were previously unimaginable.