One million Black-owned businesses by 2030.
That’s the ambitious goal set by John Hope Bryant in October 2020.
Bryant has been working to improve Black financial literacy globally for over thirty years. Now, in his work to “create an economic infrastructure for Black America and for underserved America,” Bryant is partnering with institutions across the nation, profit and non-profit, in his endeavor to support Black entrepreneurs start their own businesses.
Bryant is now connecting some of the oldest Black institutions in the country with One Million Black-owned Businesses (1MBB). Clark Atlanta University (CAU) is the first to pave the way.
CAU signed an agreement to connect at least 1,000 entrepreneurs with 1MBB by 2030. Dr. George T. French Jr, president of CAU, has no doubt they will reach their goal.
“We’re looking at a recalibration of the entire economy. Fifty percent (50%) of all African American owned businesses went under during pandemic,” said French.
A 2020 Citigroup study revealed that, in the last twenty years, the U.S. economy has lost $16 trillion worth of gains in Gross Domestic Product (GDP) due to discriminatory practices against Black Americans, “mostly lost business revenue, lost business lending,” said Bryant.
