The racial uprising following the murder of George Floyd, coupled with the disproportionate impact of COVID-19 on BIPOC-led businesses have caused countless institutions and organizations to consider how they might better support small business success among people of color. The broader conversation typically lands on access to capital.
Venture capital in particular has come under increased pressure to be more inclusive, given that less than 1% of venture funding goes to Black or Latin-X led startups. Financial institutions like SoftBank and Goldman Sachs have made multi-billion-dollar commitments, with some part of that undoubtedly being directed toward funding innovations.
While this is all encouraging, the moment seems to be bereft of any meaningful discussion on how BIPOC-led businesses better access the #1 capital source which hands-down beats grants, loans and equity investment combined. Revenue.READ THE FULL PROPOSAL
