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April 16, 2021

Angel Rich Makes History as 1st Black Woman to Develop Fintech App in Partnership With Experian

Angel Rich

Acclaimed financial guru Angel Rich has partnered with Experian®, one of the largest credit reporting companies in the world, to launch her newly developed artificial intelligence fintech app called CreditRich. The app rounds up consumers' spare change to pay their bills intelligently and potentially increase their credit score in real-time. It is designed to help people manage their credit potential and is offering what the company terms ‘credit intelligence’ to help users forecast the impact of their credit behavior.

April 15, 2021

Single Mom Becomes 1st Black Woman in New York to Own a Spring Water Bottling Plant

Paulla McCarthy, first Black woman to own spring water bottling plant

Paulla McCarthy, a single Black mom from NYC, is the owner of YSS WaterWorks, a spring water bottling plant in upstate New York. She has made history as the first Black woman to own and operate this type of business in the entire state!

April 14, 2021

Founder of Black-Owned Line of Magnetic Eyelashes Secures $100K Deal on Shark Tank

Dr. Anika Goodwin, founder of OpulenceMD Beauty on Shark Tank

Dr. Anika Goodwin, founder and CEO of OpulenceMD Beauty, a Black-owned line of magnetic lashes and other eye-focused beauty products, recently made an appearance on Shark Tank and secured a deal from fashion designer and retail mogul Kendra Scott for $100,000 for a 20% stake in the company.

April 13, 2021

Twin Brothers, Founders of Black-Owned Menswear Brand Now Being Sold in Nordstrom

Warner and Waverly Watkins, founders of Brownstone clothing

Meet twin brothers Warner and Waverly Watkins, the founders and designers of Brownstone, one of the newest Black-owned menswear brands to be sold in fashion retail giant Nordstrom.

April 12, 2021

This Black-Owned Hair Care Brand Just Raised $100 Million in Funding

Mielle Organics, founder and ambassadors

Founded in 2014, Mielle Organics, the #1 fast-growing Black-owned and community-focused natural hair care company, has secured a $100 million investment from Berkshire Partners, a Boston-based firm. The financing will support Mielle's growth plans and help further its mission to educate, empower, and excite its customers and the broader hair care community.

April 8, 2021

Mom Launches Vegan Nail Polish Line and Makes Her 4-Year Old Daughter Co-CEO

Jasmine Phinex, founder of Serenity Nail Polish, with her daughter

Jasmine Phinex, a mother and entrepreneur, founded Serenity Nail Polish with her husband James and 4-year old daughter Serenity last year. Since then, they have created one of the fastest-growing lines of vegan non-toxic nail polish products that are safe for children.

April 7, 2021

Black Couple That Turned Down $400K on Shark Tank Makes History, Raises $1.7M in a Day

Tim and Kim Lewis, founders of CurlMix

In 2019, entrepreneurs Tim and Kim Lewis, the founders and owners of CurlMix, appeared on ABC's Shark Tank and turned down a $400K offer for a 20% equity in their company. Two years later, the couple launched an equity crowdfunding campaign and raised more than $1.7 million dollars within 24 hours.

Helpful Resources:

Top Black Business Conferences, Workshops, and Seminars:
Every year, many Black business conferences are held across the country that specifically cater to established or aspiring African American business owners, professionals, authors, bloggers, and more. Literally thousands of people travel to network and do business at such events. These events are usually held in cities like Atlanta, Chicago, and New York, and typically include extensive training workshops, powerful speeches, power networking sessions, grand hall expos, and more. [Find an event to attend...]

Top Black and Minority Business Grants and Funding Opportunities:
From time to time, there are Black and minority business grants available to help African American and other minority entrepreneurs. Sometimes, they grants are offered by major companies, non-profit organizations, and even government agencies. Admittedly, such opportunities can be very difficult to find as many have been discontinued. Others in the past were offered as one or two year programs and did not renew. Despite this, such opportunities are real and are more often offered through local programs compared to national. [Get funded...]

Top Black and Minority Business Organizations:
There are many non-profit Black and Minority business organizations that aim to be of assistance to African American business owners. They are very helpful resources that offer valuable assets including grants, seminars, literature, consulting, and professional networking opportunities. There are also several government agencies that aim to assist minority business owners, including Hispanics, Asians, Native Americans, and even women of all ethnic backgrounds. [Find the right organization for you...]

Top Black Business Magazines, Publications and Blogs:
Believe it or not, there are hundreds of Black business magazines - that is, business-focused magazines that target African American readers. There are also many publications that are focused on professional career development. Some are local, some are national, and some are even international. Many are even available as digital publications via your laptop, tablet or smartphone. There are also many blogs that can be very helpful and resourceful to both aspiring and established Black business owners. [Find a publication that meets your needs...]

Interesting Facts & Statistics About Black-Owned Businesses:
Black-owned businesses accounted for about 28% percent of all businesses in Washington, DC, the highest ratio in the nation. Second, was the state of Georgia, where 20% of businesses were Black-owned, and the state of Maryland, with about 19% in Illinois. The state of New York, however, has the most Black-owned firms at 204,093 but this only accounts for 10.6% of the businesses in the state. Second is the state of Georgia, third is the state of Florida, and fourth is the state of Texas with the most Black-owned businesses but not necessarily the highest ratios. [Learn more...]