BLACK CONNECT, INC.

Description

Black Connect has been a trailblazer in the fight to close the racial wealth gap in America and empower Black entrepreneurs as the only national chapter and membership based 501(c)(3) organization solely focused on increasing the number and success rate of Black-owned businesses. Black-owned businesses are crucial to building generational wealth, strengthening communities and reducing economic inequities. Yet, Black entrepreneurs face systemic challenges:

• Only 2% of venture capital funding flows to Black entrepreneurs.
• 80% of Black-owned businesses fail within the first 18 months due to a lack of resources
• 96% of Black-owned businesses operate without employees.

Black Connect’s entrepreneurial ecosystem tears down these barriers. Through programs like pro bono legal services, financial planning, and business mentoring, we’re helping entrepreneurs build sustainable businesses and thrive in a system designed to exclude them. Our holistic approach to our mission tears down silos and circumvents inequities and systemic barriers that perpetuate cycles of poverty in Black communities. Our model unifies and increases communication, awareness, and resources. With limited financial support from foundations and major donors, the assistance of skilled volunteers plays an integral role in the organization’s development and our remarkable impact on the communities that we serve.