In the wake of George Floyd’s murder and the marches, protests and civil upheaval that followed, it became quite fashionable to support Black-owned businesses.
According to Bloomberg and Business Insider, Black Americans became the fastest-rising group of entrepreneurs in the United States between February 2020 and August 2021, increasing by 38%. This trend was particularly prominent in progressive communities like the Bay Area, which are steeped in diversity, but also haunted by persistent inequities.
But as media attention moved on to the next cultural crisis and the pandemic stretched on for more than two years, support for Black businesses waned, and promised capital has been slow to follow.
Founded in 2010, African Diaspora Network (ADN) is a Silicon Valley-based, immigrant-led nonprofit that promotes racial equity and economic justice by building leadership and economic capacities of African immigrants and African Americans….