Overcoming Financial Barriers: How 1MBB Aids Black Entrepreneurs
PR Newswire On July 7, 2023, Operation HOPE announced its collaboration with Shopify, a leading e-commerce platform, to host an event titled “Shop & Learn with Shopify: A Vendor Expo Experience”. This partnership forms a part of Operation HOPE’s 1 Million Black Businesses (1MBB) initiative, aiming to stimulate the growth of Black businesses in the United States.
The event, scheduled for July 8, from 12-3pm EDT, will be held at the New Black Wall Street Mall in Stonecrest, GA. It aims to unite Atlanta’s e-commerce sector, offering community members an opportunity to connect with over 50 local Black-owned businesses and hear from seasoned e-commerce experts.
Among the event’s anticipated highlights is a panel discussion featuring Marlon Watts and Nicholas Clark, owners of the highly successful t-shirt business, WRLD INVSN, alongside CEOs of other prominent firms including GLAD WE MET, Leisure Forever, and FRESH KICKZ MARKET. These keynote speakers, each with their own unique stories of entrepreneurship, are expected to offer invaluable insights into the world of e-commerce.
The Vendor Expo Experience presents a platform for emerging and established Black-owned businesses to showcase their offerings without incurring any costs, thereby promoting a vibrant entrepreneurial spirit. The collaboration between Operation HOPE and Shopify signifies a strategic effort to foster business growth and expand the reach of Black-owned enterprises.
Since its inception in 2020, the 1MBB initiative has already bolstered over 290,000 Black-owned businesses. This commitment has translated into securing over $26 million in small business loans for 369 Black businesses nationwide, with e-commerce retailers particularly benefitting from Shopify’s expansive customer base. Partnerships with organizations such as the U.S. Small Business Administration, Truist, Wells Fargo, and the NFL have been instrumental in aiding this initiative.
Operation HOPE’s collaboration with Shopify not only aligns with the 1MBB initiative’s goal of fostering a million Black businesses by 2030, but it also reinforces its broader mission of financial inclusion and empowerment for the underserved in America. As the initiative expands, an increasing number of Black entrepreneurs will gain access to the resources and tools necessary for creating, scaling, and sustaining their enterprises.
With this event and its ongoing efforts, Operation HOPE continues to demonstrate that a united community and collaborative partnerships can create a more inclusive and prosperous future for Black entrepreneurs across the nation.
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