The Help Black Entrepreneurs Need When They Need It Building a business is hard.
Building a business as a black entrepreneur can be even harder. That’s why Higher Purpose Co. works to provide our entrepreneur members with the education, capital, and support they deserve.
A Snapshot of Black-Owned Businesses
- African Americans make up more than 13% of the U.S. population, but only own 7% of businesses.
- Of the 2 million Black businesses, only about 107,000 of them have actual employees.
- Racism, discrimination, and predatory lending are all factors because many aspiring Black business owners have been unfairly turned down by banks when applying for small business loans.
- Here in Clarksdale, “ownership in the Delta is concentrated among people who are not from the community, or among wealthier people in the community, who have historically been white.”
Education. Capital. Support.
Black entrepreneurs are some of the most talented and brilliant people around. Still, sometimes you need access to resources that can help take your idea from good to great. Higher Purpose provides those resources in several ways including programming, webinars, seminars, and conferences.
In 2021, Black entrepreneurs only received 1.2% of the estimated $147 billion in venture capital funds that were available. A lack of funding means that black entrepreneurs don’t have the opportunity to fully develop their ideas, technology, or workforce. All those factors impact their ability to scale, sell, and build generational wealth. HPC’s goal is to help black entrepreneurs access and utilize capital in a way that helps their businesses thrive.
Whether it’s mentorship, conversations among peers, or encouragement from a personal cheer team, entrepreneurs need support. HPC fills in the gap for our entrepreneur members through a range of support services like special programming, mentorship, access to service professionals, and business counseling. Our members never have to feel as if they are left to figure it out on their own.
P.O. Box 2148
130 Desoto Ave | Suite 10
Clarksdale, MS 38614
Jackson Medical Mall
350 W. Woodrow Wilson, Ave, Ste. #480
Jackson, MS. 39213