Checks & Contracts
Dear reader . . . a question for you. How many Black-owned businesses can you name in your community that are *NOT* restaurants? Across the US, there are thousands of Black-owned businesses, spanning all industries, specialties, sectors, and services. Do you know the ones in your city?
Over the last few months, we worked on our latest Ally Lab workshop, Allyship with Kansas City’s Black Business Community, where we interviewed and learned from a wide variety of KC’s Black business leaders and founders. The discussion was as interesting as it was informative and our contributors shared so many wonderful nuggets of truth. One theme that stood out was the reality of accessing capital as a Black business professional or founder.
Checks & Contracts
So often there’s a push toward programs that give access to apply to obtain funding — which entails things like taking time away from work or family to go through training that does not guarantee funding, only access to the process. In other cases, the only available funding comes in the form of a loan, and we know how challenging navigating interest rates and all the red tape of loans can be.
On top of all of that, there are eligibility and timeline requirements that you may or may not meet, and always the possibility of getting denied. Throw in the long, well-documented, challenging relationships and lack of trust between the Black community and lenders and we have the perfect recipe for underfunded Black-owned businesses and unnecessary hurdles to getting the necessary dollars to scale their business and achieve success. Mending the Tapestry does a fantastic job of exploring these challenges and the trust gap they perpetuate.
These gaps lead to divestment in the Black community, premature closure of businesses, negative health outcomes, loss of personal income, strained relationships, increased experiences of poverty, and constitute a severe act of irresponsibility within the larger business ecosystem. All of these things create conditions that plague the Black community from coast to coast. See redlining — it’s more than just about housing!
So what is the remedy when the programs and classes have been taken, the mentees have been mentored, and the loans have been applied for? It’s simple. According to Carlanda McKinney, Founder of Bodify, who coined this phrase, it’s “checks and contracts”. Overwhelmingly, as we listened, researched, and learned, directly providing capital to Black-owned businesses turns out to be one of, if not THE most powerful way to support the success and sustainability of Black businesses across the entire business ecosystem, no matter what city you live in.
Here are a few more suggestions our contributors shared on ways that allies can show up for Black co-workers, entrepreneurs, and businesses:
Build authentic relationships
One of the greatest human needs is the need for community and togetherness. Our differences and likenesses are a beautiful thread that can knit us together in human understanding and appreciation, but it requires sincere authenticity and willingness actually to see one another through the lens of humanity.
Listen and Learn
If you’re a regular reader, you’ll remember the acronym, W.A.I.T., which stands for Why Am I Talking? If you think about the number of times you feel heard and listened to versus the times you don’t, it’s not hard to feel the value of having people around you who are willing to listen and understand. Practice that skill and learn from Black co-workers, leaders, entrepreneurs, and founders.
Highlight contributions
In the workplace, there are opportunities to highlight and give credit to the contributions and ideas of your Black co-workers without centering yourself on noticing or being an ally. Are you speaking their names in spaces where they might be considered for promotion, recognition, or wage increases? Make recommendations for growth opportunities.
Find workarounds to support DEIB efforts
We are seeing an increase in conversation about the defunding of DEIB initiatives and work. Rather than giving up and giving in to this latest attempt at regressive action, find ways to continue to get checks and contracts to Black-owned businesses and founders. Workarounds work.
Network and introduce Black businesses to decision-makers
Use your power of influence. We already know the people in our network, but who else needs to know the people in our networks? Introduce, encourage, and guide the decision-makers you know to meet with and support Black-owned businesses and founders.
If you’re interested in learning more ways to support Black-owned businesses and founders in your area or about our Ally Lab offerings, please contact us.
Also, if you’re interested in more ways to support Black businesses in Kansas City, here are a few resources we put together.
