US Black Chambers is an advocacy organization comprised of 145 black chambers and represents over 330,000 black owned businesses. Ron Busy, CEO of US Black Chambers said, in a recent interview, that while most business are seeking access to capital, black owned businesses number one priority is access to affordable credit.
Ron shared that 20 - 30 years ago there was a focus on diversity and inclusion, however today, especially for black businesses, that focus must shift to the inclusion of black businesses in the conversation, not just "minorities".
Working with Facebook, US Black Chambers is facilitating a process where black business owners can be certified not just as minority business owners but as black business owners. This is a first.
While there's many minority women business enterprise (MWBE) programs at the state level, there are few programs specifically certifying black business owners.
Ron cautioned that even some non-black businesses are putting up signs saying "black owned" to get more black customers, even though they are not black owned. Hence the need for black business certification by the US Chamber.
Certify your business as black owned by visiting - https://byblack.us/
441,000 black owned businesses were lost from February to April, which represent 40% of black owned businesses, said Ron.
These were lost due to Covid and the "shelter in place" rules.
However the the good news is that these businesses had customers and vendors who can help recoup this loss. As black businesses begin to open up Ron encourages the black community to invest in black businesses to build wealth within the black community.