NASHVILLE, Tenn. (WTVF) — Today is Nashville Black Innovation and Entrepreneurship Day!
As Metro celebrates, I've got new numbers showing that Black business ownership is growing at its fastest pace in 30 years. That's according to the Small Business Administration.
I checked out the government data for you.
It shows the SBA lent nearly $1.5 billion to Black-owned businesses in the 2023 fiscal year. That's more than double than the year before.
And $9.5 billion in federal contracts went to Black-owned businesses in 2022, a $490 million increase from 2021.
"That's not enough. You know, we celebrate that marker, but we need to do much, much more, and that that is our our hope and our mission here
black entrepreneurs are so important to the fabric of of this country, not only socially but economically as well," said Mark Madrid from the U.S. Small Business Administration.
Besides funding programs to help entrepreneurs start or expand their businesses, the agency also provides counseling, training, and business development programs.
On Thursday, the Nashville Entrepreneur Center is hosting a fireside chat with Doctor Lakisha Simmons and Shani Dowell.
It runs from 4 to 6 p.m. it's free, but you do need to reserve a spot.
Fostering Hope provides Christmas for kids in foster care. I'm delighted to see Fostering Hope expand this year to expand their reach to now include kids in Foster care in metro AND foster kids in East TN hard hit by Helene.
-Bree Smith
