As Black-owned venture capitalist firms such as the Fearless Fund continue to be targeted by anti-affirmative groups, Black women entrepreneurs could potentially be hindered when it comes to growing their businesses.
Although funding exclusively for Black women is under attack, there are still places for Black women entrepreneurs to find aid for their blossoming projects.
Here are five platforms and apps that continue to offer funds and information to Black women who lead their own businesses.
- The Suite: Created by Sistahbiz Global Network, The Suite is a platform designed to help Black women founders. Still in development, although it’s available to early users, The Suite provides Black women entrepreneurs with business lessons through seminars, libraries and book studies. Sistahbiz Global Network has already made a name for itself for its ability to create networking opportunities for Black women, offering them a place to find coaching and valuable feedback.
- Elevo: Founded by managing partner of VC capital firm Growth Warrior Capital, Promise Phelon, Elevo is a platform built through AI that helps entrepreneurs pitch their businesses. As a vital part of obtaining capital, pitching a business requires selling one’s company and ideas. The Elevo platform uses AI to help people create their own decks using publicly available ones from successful pitches.
- BlkWomen Hustle: Composed of over 100,000 Black women, the BlkWomenHustle platform is designed to create a network for Black women to build social capital, grow their businesses and strengthen economic empowerment. The site has consultants who can give guidance on how to begin and further businesses, giving Black women the knowledge they need to build on their ideas.
- Black Women Exist Business App: Available on the Google Play store, the Black Women Exist Business App helps expand visibility for Black women-owned businesses. The app helps users find businesses owned by Black women worldwide, putting local restaurants, hotels and other companies on the map.
- Guava: Designed by founder and CEO Kelly Ifill, Guava is a banking app made specifically for Black-owned businesses. The app helps small businesses owners with their funds by offering a free checking account for their use as well as other banking services. Guava has also previously raised over $2 million in pre-seed funding from VC firm Heron Rock.
Through their app Huddle, the creators of Guava are also helping Black entrepreneurs connect with each other through a networking hub where they can turn to each other for career advice and attend financial workshops.
