Panelists will discuss nontraditional funding sources for minority businesses.
The wealth gap between white and Black households in the United States can be a barrier for entrepreneurs. In 2019, the wealth of the median white household was 7.8 times greater than an average Black household, according to a report from the Brookings Institution. A virtual lunch and learn aims to discuss ways for minority entrepreneurs to secure nontraditional funding and overcome that gap.
Startup Junkie and Venture Noire will host Facing Startup Challenges for Black Businesses from noon to 1 p.m. Jan. 27. The panel discussion will feature Startup Junkie’s Alvin Singh and Venture Noire’s Emma Willis who have both launched their own companies. They will share the lessons they’ve learned and how their current work is driven to help others along the way toward entrepreneurship. During the hour-long session, they’ll discuss some of the challenges faced by Black entrepreneurship from traditional outlets, as well as modern solutions.
The panelists will discuss topics such as funding ideas, business structure, the importance of ownership and passion for the industry chosen, low or no-cost marketing tactics, and testing your product before launch, along with historical examples. A Northwest Arkansas business owner will also share their experiences running a business and explain how nontraditional funding sources are helpful.