CINCINNATI, Ohio – (BLACK PR WIRE) – BlackBizFunding, a national company that assists in providing funding for Black-owned startups and businesses, announces the launch of its campaign to raise $1,000,000. The drive will officially begin on Tuesday, October 1, 2013 on the company’s website, BlackBizFunding.com. The grassroots campaign asks supporters to chip in one dollar or to “Give a Buck for a Biz.”
Proceeds of the campaign are to be gifted, as in not to be repaid, to Black-owned startups and viable businesses. A panel of judges will narrow the finalists; contributors will assist in selecting the funding recipients. Funding amounts will range from $2,500 to $250,000 and will be distributed in the geographical areas in which they are collected.
Black business ownership is the key to empowering Black communities and creating wealth. BlackBizFunding strives to leverage a portion of the $1.3 trillion buying power of African Americans to re-invest in Black startups and businesses.
Small business expert Cherlyn Carroll, President and Founder of BlackBizFunding, states “If Black America were a country we would be the 11th largest. It is unthinkable, unforgiveable, that high unemployment, poverty, crime and poor schools are still prevalent in many of our communities. Even as the biggest consumers in the nation a dollar earned by an African American stays in the Black community for only six hours before being spent in other communities! And what do those ‘other communities’ do for us? Our issues belong to us and can be solved by us if we pool our money and work together. We have the earning power to be self-supportive – it starts with supporting and creating Black businesses. I am committed to ensuring that Black startups and businesses have access to capital.”
Contributions can be made at BlackBizFunding.com. Staff will participate in Black conferences, expos and festivals around the country to invite participants to chip in a dollar.
Cherlyn Carroll is a serial entrepreneur who has studied small business owners for more than three decades. Among her accomplishments include Volunteer of the Year for SCORE, appointment to Ohio Gov. Taft’s Ohio Women’s Business Advisory Roundtable (OWBAR), and founding of the Black Business Expo.