SMALL BUSINESS DEPARTMENT
SOLUTION 1. ESTABLISH BUSINESS & COMMUNITY PARTNERSHIPS
BAF will introduce new innovative business and community partnerships where the community, through BAF, invests in new businesses by providing:
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access to rent-subsidized community-owned upscale business properties, including restaurants, business offices, warehouses, retail stores, etc...
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access to capital and grants.
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access to vetted lawyers, cpas, general and sub contractors, marketing and advertising specialists, etc.
In return, the community will enjoy significant discounts at these businesses and, as stakeholders, will also become loyal customers.
THE PROBLEM
Black Americans face significant barriers to entrepreneurship, including limited access to capital, systemic discrimination in lending practices, and a lack of supportive networks and resources, all of which hinder their ability to start and scale businesses.
THE SOLUTION
The solution to these challenges is to offer Black entrepreneurs new innovative business and community partnerships, access to investment capital, technical assistance, and other strategic support.
Additionally, BAF will create its own for-profit businesses that deliver affordable products and essential services to Black communities, filling economic voids while generating additional revenue to support BAF’s operations and programs.
The Black Achievement Fund will create and support new upscale Black-owned businesses and business infrastructure in Black communities, providing high-quality products and services that meet local needs while generating job opportunities and driving economic growth. These businesses will help retain wealth within the community, address economic disparities, and lay the groundwork for long-term financial independence and empowerment. The new upscale businesses and infrastructure will include:
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Restaurants, bars, lounges, and specialty shops
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Shopping centers, Business and Entertainment Districts
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Hotels
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Business offices
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Gas stations, convenience stores, and gourmet delis
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Ride-share services and public transportation
SOLUTION 3. BUILD AND SUPPORT NEW UPSCALE BLACK BUSINESSES
BAF will offer small business loans and subsidies to reduce startup and operational costs, provide essential products and services to Black communities, and create jobs. These low-interest loans will support business expansion, staffing increases, equipment and technology upgrades, product development, marketing, etc..
Providing business loans to Black-owned businesses will help bridge the financial gap created by historical inequities, enabling entrepreneurs to access the capital needed for growth, innovation, and sustainability. These loans will also foster economic empowerment, create jobs, and stimulate wealth-building within Black communities, contributing to long-term economic equity. The subsidies and grants will give Black businesses a much-needed competitive advantage, helping to create a more equitable playing field.
SOLUTION 2. PROVIDE SMALL BUSINESS LOANS & SUBSIDIES
The BAF will offer real-world entrepreneurship training through our business partnerships, equipping individuals with the practical skills and knowledge needed to succeed in today’s competitive market. Businesses will receive grants to help support these programs.
These programs will provide invaluable hands-on experience, enhance business acumen, and increase the likelihood of long-term success by fostering strong connections and support networks within the business community.