Blackevo
Advertisement
  • Home
  • Business
  • Health
  • Millennial
  • News
  • Parenting
  • Podcasts
  • Travel
  • Political
No Result
View All Result
  • Home
  • Business
  • Health
  • Millennial
  • News
  • Parenting
  • Podcasts
  • Travel
  • Political
No Result
View All Result
Blackevo
No Result
View All Result
Home Business

New Research provides Fresh Look into the Middle Market’s Black-owned Businesses

Black Evo by Black Evo
June 13, 2024
in Business
0
New Research provides Fresh Look into the Middle Market’s Black-owned Businesses

[ad_1]

  • A shared sentiment among many of those interviewed that diversity initiatives and programs are shifting away from Black-owned businesses.
  • Most participants believed that an MBE designation means less today than it once did; or that the opportunities such certifications have become watered down or less available to Black-owned companies.
  • A view that programs that contribute to the initial success of Black-owned businesses often end up limiting future growth.
  • Many of the Black business leaders interviewed expressed frustration at what they view as broken government contracting and certification processes, with some even contending that the programs put in place to help Black entrepreneurs are ultimately hurting them instead.

“One interesting point that came out of this report ― and what I have been researching ― are the organizational barriers that minority businesses, particularly Black-owned businesses, face,” said James Hill, chair of the Department of Operations and Business Analytics at The Ohio State University Max M. Fisher College of Business. “Black- owned businesses often must go through supplier diversity programs and certifications, where their majority-owned counterparts can go straight to procurement. These additional steps are structural barriers they must overcome.”

The survey also revealed shared experiences and strategies that participants said have helped Black businesses succeed. Among them:

    • Discrimination is a universal experience not likely to go away anytime soon, but it does not define Black business owners or their paths forward.
    • Establishing and maintaining a network of peers and an economy in which Black business leaders are valued can help generate opportunity and overcome challenges.

“This is the beginning of a journey. A journey to uncover the overlooked ― owners of Black middle market companies,” said Moses Harris, Black/African American Segment leader for Wells Fargo Commercial Banking. “We’re doing this to elevate their stories, to expand their access to capital and customers, and to support their overdue, equitable participation in the global economy. Stories, coupled with data, have the power to change systems, unlock product innovation, and design better policy benefitting generations to come.”

The report can be found at https://www.middlemarketcenter.org/research-reports/2024- insights-and-perspectives-from-black-leaders-in-the-middle-market.

[ad_2]

Previous Post

WATCH: Black Student Blamed After Professor HITS Her In Class

Next Post

Get Ready to Die! Peacock’s Gladiator Epic “Those About to Die” Drops Trailer – Where Is The Buzz

Black Evo

Black Evo

Next Post
Get Ready to Die! Peacock’s Gladiator Epic “Those About to Die” Drops Trailer – Where Is The Buzz

Get Ready to Die! Peacock's Gladiator Epic "Those About to Die" Drops Trailer - Where Is The Buzz

Recent News

Current Politics News: Breaking Headlines and In-Depth Analysis

Current Politics News: Breaking Headlines and In-Depth Analysis

August 18, 2024
How to Easily Find Your Polling Place for Elections

How to Easily Find Your Polling Place for Elections

August 17, 2024
Essential Items to Bring to the Polls on Election Day

Essential Items to Bring to the Polls on Election Day

August 17, 2024
Trump Criticizes Harris on Race at Black Journalists Conference

Trump Criticizes Harris on Race at Black Journalists Conference

August 7, 2024

Newsletter

Browse by Category

  • Business
  • Mental Health
  • Millennial
  • News
  • Parenting
  • Political
  • Travel
  • Privacy Policy
  • Contact Us

Recent News

Current Politics News: Breaking Headlines and In-Depth Analysis

Current Politics News: Breaking Headlines and In-Depth Analysis

August 18, 2024
How to Easily Find Your Polling Place for Elections

How to Easily Find Your Polling Place for Elections

August 17, 2024

© 2022 All rights reserved by blackevo.com

No Result
View All Result
  • Home
  • Business
  • Health
  • Millennial
  • News
  • Parenting
  • Podcasts
  • Travel
  • Political

© 2022 All rights reserved by blackevo.com