Category: The PISLA Beat

Many firms are resuming operations as COVID restrictions loosen in Southern California. This includes a business called Post 21 in Downtown Disney, which has reopened following a pandemic-related closure.

Post 21 is the first African-American-owned business on a Disney resort. One of the co-founders, Blair Paysinger, claims her store sells beauty products, home goods, and children’s items, all from Black-owned businesses.

Paysinger explains, “The goal of the business was to gather them all into one area.” “Previously, if you wanted to help them, that was fine. But where do you look for them?”

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“Fortune,” sat down with Melissa Bradley, managing partner of 1863 Ventures, to talk about the funding divide between black and white entrepreneurs.

The evidence isn’t encouraging. According to Crunchbase data, just approximately 1.3 percent of US venture capital money went to Black-founded startups in 2021. Despite the fact that Black entrepreneurs raised $4.2 billion in venture capital last year, a 281 percent increase over the previous year, they still receive a fraction of the money accessible to their white counterparts. They aren’t alone; there are significant disparities in Latino and women-owned firms as well, but each group has unique problems.

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Owned by BLK The BYEH’s Trailblazer Program, a Bootcamp program for Black identifying Youth Entrepreneurs has been launched by HamOnt, a Black entrepreneur support network!
For entrepreneurs ages 18 to 39, BLK OWNED has designed a Bootcamp program to help Black entrepreneurs set up their businesses for success. This is an 8-week program that runs from March 5th to April 14th and covers themes like marketing, sales, and company digitization.

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Shania Accius, a Black Future-Maker started the Zawadi Cultural Collective to organize cultural events in the San Fernando Valley.

Acius leads an all-Black Girl Scout troop that emphasizes character, culture, and community. When she identified the need for a resource hub, she started a Black business Facebook group, which now has 4,000 members.

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The impact of Covid-19 was disproportionately felt by black company owners; a year into the epidemic, the number of black CEOs had increased by 38%. Surprisingly, 17% of Black women are in the midst of beginning or running their own business. Verizon news center met with a few of these business owners to learn more about their inspirational stories. One of these inspirational leaders includes Eben Rey, CEO of NEIO Systems in Los Angeles, CA.

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