4 Black Businesses Gain $350K At Fifteen Percent Pledge Gala, Exceeding $500K In Grants

by Jeffrey McKinney February 15, 2024 Four emerging Black small businesses gained $350,000 to spur growth through the Fifteen Percent Pledge. Four emerging Black small businesses have gained $350,000 to spur growth through the Fifteen Percent Pledge. The enterprises gained grant funding as the Pledge hosted its third annual benefit at Paramount Studios in Los Angeles earlier this month. The gala included a surprise visit and comments from first lady Jill Biden. Another highlight was beauty creator Tracee Ellis Ross presenting the Pledge’s “Trailblazer Award,” which honors a trailblazer who uses its platform to amplify critical work to transform systems of injustice, helping support equality and prosperity for all. Launched in 2020, the Pledge is a nonprofit organization encouraging retailers to commit at least 15% of their shelf space to Black-owned businesses. The awards are aimed to help unlock the next horizon of growth for Black-owned-and-led businesses as they continue to face systemic hurdles to access needed capital to thrive. Securing capital remains an ongoing battle for Black entrepreneurs who wrestle with the issue more often than their non-diverse peers. Here is a glimpse of the award winners at this year’s event: Abena Boamah-Acheampong of hanahana beauty won the 2nd...