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Black-owned construction company, Choates Holdings, LLC, has partnered with Urban Icon International. A new partnership aims to bring Black Americans home to the motherland with state-of-the-art sports arenas and hotels in several African cities developed by a Black-owned construction company. Smith Choates Holdings, LLC and Urban Icon International have collaborated to continue both companies’ commitment to develop innovations in technology, community engagement, and economic growth. “Charles Choates formulated this whole vision of adding the sports and the NBA together in conglomerate with the hotel piece as well,” principal and CEO of Smith Choates Holdings, Darrell Choates Sr., said of his business partner during a…
For aspiring entrepreneurs, Thompson offers sage advice: ‘Get knowledge and experience in the business before you launch out on your own.’ Restaurant sales are projected to surpass $1.1 trillion this year, setting a new record for the industry. By the end of 2024, it is anticipated that over 15.7 million individuals will be employed in this sector in the United States, according to the National Restaurant Association’s 2024 “State of the Restaurant Industry” report. Black-owned businesses play a crucial role in the American economy, significantly driving growth and development across numerous industries. About 9% of restaurant firms are owned by…
In addition to giving Black-owned businesses prime real estate in their shop, Simply Pure also partnered with ButACake, a Black-owned concentrates company, to build out marketing displays at its stores. Tahir Johnson and Wanda James made history by partnering to push Johnson’s Simply Pure Trenton franchise into multiple states via a licensing agreement, bucking the popular trend of partnerships with established multistate operators. According to MJ Biz Daily, Simply Pure is believed to be the first Black-owned multistate retail operator. The business scaled up using outside investors and debt and equity deals, which Johnson described as the route that made the most sense…
The second quarter surge in the GDP could create more business activity for Black healthcare and affiliated businesses. Black firms in healthcare and related industries are among the enterprises that should benefit the most from a growing U.S. economy. Based on a report by William Michael Cunningham, an economist and owner of Creative Investment Research, those firms account for 28% of all Black-owned firms nationally in any industry, meaning that the Black business community typically does better when that sector expands. His analysis comes after the gross domestic product (GDP) doubled by surprisingly rising 2.8% in this year’s second quarter…
Access to capital has long been a significant hurdle for minority and women-owned small businesses. To help overcome this obstacle, the city of Frederick, Maryland, has introduced a new grant program that offers $400,000 in total funding. This initiative is designed to provide much-needed capital to startups and established businesses, supporting their growth and development. Eligible businesses can apply for grants of up to $40,000. The city has announced that preference will be given to firms located within city limits and minority and women-owned businesses. This program aims to foster a more inclusive and equitable business environment in Frederick, helping…
USDA Secretary Tom Vilsack told reporters the aid ‘is not compensation for anyone’s loss or the pain endured, but it is an acknowledgment by the department.’ After years of fighting against discrimination, Black and other minority farmers are set to receive $2 billion from the United States Department of Agriculture, according to an announcement from President Joe Biden. These farmers have long struggled against systemic barriers, including discriminatory lending practices, denial of access to federal aid, and unequal treatment in the allocation of resources and support from the USDA. This settlement aims to address the historical injustices and provide much-needed financial relief…
The celebration stvarted in 1974 with Harlem Day. Harlem Week recently began its 50th anniversary of celebrating the famed New York City community’s history and culture. It started Aug. 1 with a breakfast at Sylvia’s Restaurant, a famed soul food staple in Harlem. The party will continue through Aug. 18, with a line-up featuring hip-hop artists like Fabolous, Broadway show performances, and delights for foodies. With free admission for all events, this year will also offer health screenings at the Harlem Health Village and a children’s festival providing school supplies. The celebration started in 1974, with Harlem Day paying tribute…
Latinos are expected to make up a full one-third of the overall U.S. population by the year 2050. Findings from the U.S. Hispanic Chamber of Commerce indicate that the demographic has a penchant for entrepreneurship: Latinos are starting new businesses at 15 times the national average. According to KVCR’s Matt Guilhem, a new report says California isn’t the best place for Latinos to launch a business.
The California Hispanic Chamber of Commerce hosted its 42nd annual statewide convention this past weekend in Indian Wells. The organization is the largest regional minority business association in the U.S and works with over 120 Hispanic Chamber of Commerce groups across California. Julian Canete is the President of the California Hispanic Chamber of Commerce; he told me, “Knowledge is probably the basis of everything we do, and I think the biggest thing we do here at the convention is share knowledge and make sure people are getting good knowledge.” He spoke of some of the resources the conference provides, including workshops on small…
Quinn Mays of KVCR speaks with Anthony Victoria of Frontline Observer about how the development of highways in the IE affect the businesses and quality of life for local residents while benefiting wealthy corporations. Ybarra’s Groceries has been a family owned business for over 60 years and proprietor Raul Raya remembers when the 215 FWY was expanded, limiting access to his business. Victoria reports on the long trend of this slow violence where highway expansion and the overall supply chain of goods negatively impacts the health and lives of those around it. Read Victoria’s full story and learn more about local environmental…