The CA Black Small Business Association is a dedicated professional group committed to advocating for and offering resources tailored to the requirements of small businesses, especially independent contractors, micro-businesses, and emerging enterprises. Recognizing that 96% of Black small businesses fall under the micro-business category with distinct needs, our objective is to establish a robust business foundation for them. This foundation enhances their eligibility for grants, loans, and contracts, ensuring optimal access to available opportunities.
Over the past three years, we have collaborated with numerous small businesses, uncovering a prevalent issue: a lack of essential elements for their success, such as proper business setup. This deficiency spans critical aspects like business infrastructure, finance, accounting, business planning, access to legal and financial expertise, and mentorship. Many small business owners require increased financial resources, technical guidance, and professional training to effectively establish and maintain their operations.
While the pandemic disproportionately impacted existing Black enterprises, it also sparked the emergence of new Black businesses. A recent Brookings report highlights a surge in new online microbusinesses, particularly within groups most affected by the pandemic's economic disruption. Among these, Black owners represent 26% of new microbusinesses, up from the pre-pandemic figure of 15%. This revival of minority-owned small businesses serves as a catalyst for this innovative initiative.
BSBA aims to alter the course of the small business community, propelling enterprises towards progress by equipping them with essential business skills, strategic insights, and facilitating access to critical information – all within a comprehensive resource hub. Here, you'll discover tools to enhance your business acumen, offering insights on grant and loan applications, enlightening you about available financial support, and keeping you updated on beneficial changes for your business.
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