Dr. Rashae Barnes, Founder of Barnes Media Group, created National Black Funding Day to bring recognition to Black businesses and address the lack of financial freedom they face. The holiday will be celebrated on September 30. 21Ninety discussed the hardships Black businesses with Barnes. With a network of partners and organizations, the founder’s sole purpose of the holiday is to leverage organizations to positively impact Black businesses.
Initiatives for Black Women-Owned Businesses
As a Black woman, Barnes struggled to fund her own business. Now, she hosts various workshops and training programs for Black women to help them become successful business owners. National Funding Day will promote equal opportunities for Black women. Barnes wants corporations to successfully invest in underfunded Black women-owned businesses.
“We believe that by providing more funding and resources to Black women entrepreneurs, we can help close the disparity gap and promote economic equality,” Barnes told 21Ninety.
Evals Equity is a funding program used to cater to underrepresented Black women. Barnes created the program to offer grants, loans, and equity investments.
“We believe that diversity and inclusion are critical to building successful companies, and we are committed to supporting the growth of Black-owned businesses,” she said.
Black Capitalists Should Do Their Part
National Black Funding Day celebrates all black businesses, even those owned by Black billionaires who established successful enterprises. Barnes believes successful black business owners should advocate for economic equality.
“We encourage all individuals, regardless of their wealth or status, to support Black-owned businesses and invest in their success,” she Barnes said.
Barnes wants to hold wealthy Black business owners accountable, making sure they invest and drive economic growth in Black businesses. She believes they have the knowledge and equity to help Black entrepreneurs.
“We encourage them to make donations and investments that can make a real difference in the lives of Black entrepreneurs and their families,” Barnes said.
Ultimate Goal Over The Next Five Years.
National Black Funding was built to guide Black entrepreneurs to the resources needed to build successful businesses. In the next five years, Barnes hopes to grow the amount of capital needed for Black enterprises. She continues to call for lenders, corporations, and venture capitalists to lend their support.
“Ultimately, we believe that our efforts will help promote economic equality and create a more just and equitable society for all,” Barnes wrote.