8 Useful Resources for Black Entrepreneurs and Small Business Owners

8 Useful Resources for Black Entrepreneurs and Small Business Owners

February 01, 2024

Succeeding in business is tough without a strong network of support. Getting started might be challenging for some entrepreneurs and small business owners who are black. You need the knowledge, wisdom, and advice that may only be provided by those who understand your potential struggles and may help you seize potential opportunities. Here are eight useful and actionable resources for Black entrepreneurs.

National Black Business Council

The National Black Business Council (NBBC) is dedicated to supporting Black-owned businesses through advocacy, education, and resources.1 You don't need to go at it alone. Entrepreneurs may benefit from networking opportunities, educational programs, and information about various business-related topics found on the NBBC's website.

National Black Chamber of Commerce

Another entity is the National Black Chamber of Commerce (NBCC), a nonprofit organization that provides assistance to Black-owned businesses across the United States.2 The Chamber offers programs, events, and resources aimed at fostering the growth and success of Black entrepreneurs.

Minority Business Development Agency

The Minority Business Development Agency (MBDA), under the U.S. Department of Commerce, focuses on promoting the growth of minority-owned businesses, including those owned by Black entrepreneurs.3 Their website provides access to resources, business development programs, and opportunities for government contracts. This might be an especially valuable resource for those who need funds to scale or improve their business.

Black Enterprise

Black Enterprise (BE) is a multimedia company that offers a wealth of information targeted toward Black entrepreneurs. The BE website features articles, videos, and tools that cover a variety of business topics ranging from finance and leadership to technology and marketing.

Small Business Administration - Office of Women's Business Ownership

The Small Business Administration (SBA) - Office of Women's Business Ownership (OWBO) provides resources and support to women, including Black women and entrepreneurs.4 The OWBO offers training programs, access to capital, and business counseling to help women-owned businesses succeed.

SCORE

SCORE is a nonprofit organization that provides free mentoring to small business owners.5 Black entrepreneurs may connect with experienced mentors who offer guidance on various business aspects, from business planning to marketing strategies.

Opportunity Hub

For Black entrepreneurs in a tech field, the Opportunity Hub (OHUB) may provide networking opportunities.6 This platform is dedicated to fostering diversity, equity, and inclusion in the technology and startup sectors. It offers training, networking events, and resources to support Black entrepreneurs in the tech industry.

Buy from a Black Woman

This organization promotes and supports Black women entrepreneurs by providing a platform for them to showcase their products and services. It also offers resources and information to help Black women-owned businesses thrive.7

Remember, it's crucial to build a strong network, seek mentorship within your industry, and take advantage of these external networking and funding opportunities. Your local chambers of commerce and business associations may have programs and resources specifically designed to support minority-owned businesses.




Important Disclosures:

Content in this material is for educational and general information only and not intended to provide specific advice or recommendations for any individual.

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

This article was prepared by WriterAccess.

LPL Tracking #516245-02

Footnotes

1 National Black Business Council https://www.theblackbusinesscouncil.org/

2 National Black Chamber of Commerce https://www.nationalbcc.org/

3 Minority Business Development Agency https://www.mbda.gov/

4 Small Business Administration - Office of Women's Business Ownership https://www.sba.gov/about-sba/sba-locations/headquarters-offices/office-womens-business-ownership

5 SCORE https://www.score.org/find-mentor

6 Opportunity Hub https://opportunityhub.co/

7 Buy From a Black Woman https://www.buyfromablackwoman.org/