By Taalib Saber, attorney and owner of The Saber Firm

As Black History Month reminds us of our legacy of resilience and economic power, recent federal rollbacks of Diversity, Equity, and Inclusion (DEI) programs have sent shockwaves through corporate America. While these policy changes may feel like a setback, they present a unique opportunity for Black entrepreneurs to double down on self-sufficiency and community-driven business growth.

A Wake-Up Call for Black Business Owners

DEI initiatives have helped Black professionals access corporate contracts and funding opportunities, but many provided symbolic representation without tangible economic transformation. With these policies being dismantled, it’s time for Black business owners to rely less on institutional diversity programs and more on collaborative, community-driven economic strategies.

This isn’t a time for despair. It’s a time to reimagine economic power. When systems exclude us, we innovate. When doors close, we build new ones. From the Freedmen’s Bureau to Black Wall Street, our ancestors created success despite systemic opposition.

Turning Setbacks into Power Plays

Rather than seeing DEI rollbacks as obstacles, Black entrepreneurs should view them as catalysts for collective wealth-building. Today’s success stories prove this approach works.

Rihanna’s Fenty Beauty revolutionized the cosmetics industry by creating products for all skin tones when mainstream brands wouldn’t. By focusing first on underserved Black and brown consumers, Fenty Beauty generated $100 million in sales in its first 40 days and has grown into a billion-dollar enterprise that forced the entire beauty industry to become more inclusive.

Calendly, founded by Nigerian-American Tope Awotona, became a billion-dollar scheduling platform by solving a universal problem. Despite initial struggles to secure venture funding, Awotona bootstrapped his company until its value was undeniable, ultimately raising $350 million and reaching a $3 billion valuation.

The Fifteen Percent Pledge, founded by Aurora James, demonstrates the power of intentional economic redirection. By persuading major retailers like Sephora and Macy’s to dedicate 15% of shelf space to Black-owned brands, the initiative has shifted over $10 billion to Black businesses since 2020.

How Black Businesses Can Thrive

Leverage Group Economics: Focus on Business-to-Business (B2B) relationships within the community through strategic partnerships and shared marketing efforts. Black entrepreneurs can drive revenue by prioritizing Black-owned vendors and service providers.

Explore Alternative Capital: While government-backed DEI funding may disappear, access capital through angel investors, venture capitalists focused on minority-owned businesses, and crowdfunding. Organizations like the Black Angel Tech Fund and 1863 Ventures are specifically supporting Black entrepreneurs.

• Master Digital Marketing: Without DEI mandates, securing contracts will be more competitive. A strong digital presence, SEO-optimized websites, social media dominance, and powerful branding are non-negotiable.
• Own Your Intellectual Property: In entertainment, sports, and entrepreneurship, prioritize ownership through trademarks, copyrights, and business structures that prevent exploitation while ensuring generational wealth.
• Build Industry-Specific Networks: Creating Black-led professional networks in industries like law, entertainment, and finance will ensure access to opportunities that corporate America may no longer prioritize.

Contemporary Success Through Community Power

Blavity Inc., founded by Morgan DeBaun, has built a digital media empire reaching over 30 million millennials monthly. By focusing on serving Black audiences and creators first, Blavity has expanded to include multiple brands and hosts AfroTech, the largest Black tech conference in America.

Greenwood Bank, co-founded by Ryan Glover, rapper Killer Mike, and former Atlanta Mayor Andrew Young, raised $40 million in funding before even opening its doors. Named after the prosperous “Black Wall Street” district, this digital banking platform specifically serves Black and Latino communities by reinvesting in minority businesses.

Pattern Beauty by Tracee Ellis Ross demonstrates the power of serving community needs first. By creating hair products specifically designed for Black women, the brand became profitable within days of launching and secured distribution at major retailers nationwide.

The Black Wealth Renaissance

Black history has always been marked by resilience. When access is denied, we create our own tables. By focusing on economic empowerment, ownership, and strategic partnerships within our community, we can build an ecosystem that thrives beyond political shifts.

This isn’t about segregation. It’s about elevation. It’s about ensuring Black businesses aren’t dependent on temporary policies but rooted in sustainable strategies that allow prosperity regardless of who’s in office.

We have always been our best investment. When we bet on ourselves, we win. When we invest in each other, we grow. When we circulate our dollars within our communities, we build lasting wealth.

Action Steps for Black Entrepreneurs

Identify and partner with Black-owned suppliers and vendors. Ensure your business is properly structured to protect assets. Develop a strong online brand presence. Explore funding options that prioritize Black entrepreneurs. Join or form industry-specific Black business networks. Support Black-owned financial institutions. Advocate for policies that benefit Black entrepreneurs.

The future is ours. Our history proves that we thrive when we work together. The attack on DEI is not the end of opportunity. It’s the beginning of a new Black economic renaissance. If we seize this moment, we won’t just survive. We will thrive!

The post Black entrepreneurs empowered to thrive despite DEI policy rollbacks appeared first on The Cincinnati Herald .

This April, All-In Cincinnati celebrates God Rules LLC, a remarkable family-owned business spearheaded by young entrepreneur William J. Block II and his parents, Letitia S. Block and William J. Block. Founded in 2023, God Rules LLC crafts high-quality inspirational apparel for all ages, embodying the spirit of unity and faith with each piece based on the uplifting message from Revelation 19:6: “Hallelujah! Our Lord God is the King who rules over all.”

In alignment with our ongoing commitment to uplifting Black women and our current youth advocacy campaign, we are thrilled to recognize a business that mirrors our values of economic mobility within our community. God Rules LLC stands as a shining example of how young Black entrepreneurs are making significant strides in business and community leadership.

Join us in supporting God Rules LLC, a source of inspiration and a testament to the impactful presence of family, faith, and entrepreneurial spirit within our community.

Support this family-owned business here: https://www.etsy.com/shop/GodRulesStore

In partnership with Morgan Owens at The Cincinnati Herald check out this family’s 3 favorite beauty products!

1. William J. Block II – Dove Sensitive Soap 
2. Letitia S. Block – Simplee Miss Whipped Shea Butter
3. William J. Block – Gillette Deodorant 

The post Cincinnati celebrates God Rules LLC success appeared first on The Cincinnati Herald .

By Stacy M. Brown

NNPA Newswire Senior National Correspondent

@StacyBrownMedia

As the 2024 presidential election race kicks into high gear, President Joe Biden’s re-election campaign is facing a stall among African Americans, coupled with concerns over the campaign’s perceived neglect of the Black Press of America—the community’s trusted voice for nearly two centuries. Despite those reservations, the White House is eager to showcase the unprecedented accomplishments of the Biden-Harris administration, particularly in economic growth and equity.

“The data shows that the historic public investments that make up the Biden-Harris Administration’s economic agenda in critical sectors for future growth, resiliency, and security are beginning to come to fruition,” White House officials stated in a blog, adding that, nevertheless, there is more work to do to lower costs for American families and ensure Americans feel the benefit of continued real wage growth, a strong labor market, and declining inflation.

In the blog post titled “Ten Charts That Explain the U.S. Economy in 2023,” the White House underscored historic gains for women and Black workers, noting that the administration’s economic agenda is beginning to yield positive results. However, amidst the achievements, there remains acknowledgment of the ongoing work required to lower costs for American families and ensure the widespread benefits of economic growth, labor market strength, and declining inflation.

The blog detailed key economic indicators, including surpassing the private consensus for real economic growth in 2023 and the positive impact on consumer spending. The Inflation Reduction Act was highlighted as a significant factor in the historic manufacturing boom, leading to record levels of real private manufacturing construction investment.

Job gains in 2023 continued robustly, contributing to 14.1 million jobs added under the Biden administration through November. The unemployment rate, maintaining a streak below 4% for 22 months, achieved a milestone not seen in over 50 years.

The administration indicated a downward trend, along with real wage growth and a decrease in wage inequality, despite a peak in inflation in the summer of 2022. Historic union activity in 2023 was cited as a reason for optimism, contributing to the highest rate of prime-age women participating in the labor force since 1948.

African Americans’ worries, however, continue to grow because of what they perceive to be the Biden campaign’s underinvestment in the Black Press of America. The influential media conglomerate, which the National Newspaper Publishers Association represents, has served as the community’s most trusted voice for nearly two centuries, and its omission from the campaign strategy hasn’t helped to quell questions about the administration’s commitment to addressing the specific needs and concerns of African Americans.

Still, Biden’s commitment to supporting Black entrepreneurs was emphasized in the blog, highlighting significant investments, including nearly $70 billion in federal contracts awarded to small, disadvantaged businesses in FY 2022. Additionally, $12 billion was allocated to community lenders to expand access to capital and resources for often sidelined entrepreneurs.

The U.S. Department of Treasury estimated that those investments in community lenders would result in a $50 billion increase in lending to Latino communities and nearly $80 billion to Black communities over the next decade. The administration earmarked another $10 billion for states, tribes, and territories to launch and expand capital access programs for approximately 100,000 small businesses.

As the re-election campaign unfolds and despite historic achievements for the Black community, the Biden administration still faces the challenge of addressing the concerns within the African American community, particularly the perceived neglect of the Black Press of America. Balancing economic achievements with community-specific outreach will be crucial in securing support from this vital demographic.

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