US-based foundation ramps up support for Black small businesses through Giving Tuesday campaign
The African American Small Business Foundation, Inc. (AASBF) has initiated a new campaign for Giving Tuesday to help small Black-owned businesses all over the United States.
The project is designed to deliver the materials necessary to raise the consciousness of the people about the problem and to energize the people to help the Black entrepreneurs who are the only ones among the business people that always have been facing the problem of getting funds and increasing their businesses in a disproportionately way. In numerous cases of small businesses, even if they deserve it, they can hardly get the necessary credit and investments from the traditional sources, which in turn makes such giving programs so important as they gain renewed importance in this context.
The foundation by giving prominence to Black entrepreneurs on Giving Tuesday desires to generate the flow of funds, the granting of the time and expertise, and the solid support of the community towards those businesses that have been operatively functioning in very low-income areas for a long time. Now with this support, they can possibly expand their businesses, get more employees, and improve on the services that they already offer and increase the presence of the sectors whereby Black-owned businesses constitute only a small percentage of the total businesses.
In addition to that, this step leads to economic equity on a larger scale. The number of Black-owned businesses has been on the rise over the past few years; however, they still experience systemic hurdles such as a lack of capital. The AASBF’s campaign is a call for the necessity of targeted funding and community support that are still very much needed.
Eventually, if the campaign achieves its goals, it will be a great opportunity for small businesses, which number in thousands, to get real support from the people across the country and they will become capable of surviving in the market as well as growing in such a competitive economic context.