Against the Grain II
Black business owners need to handle business
As the owner of a Black business, I am certainly not talking about ALL black businesses. However, the focus of these comments is business owners who are doing business off the record or just not handling the full scope of their enterprise.
The U.S. Government just announced that it will be distributing $16 billion in grants in a program known as Shuttered Venue Operations Grant (SVOG). Businesses that qualify for the grant can receive up to $10 million in funds to go towards their operation. Even if the businesses have received PPP loans, they could pay off the loan and result in a distribution of the balance.
This particular program is for concert halls, clubs, promoters, agents, and bars. During the pandemic, these venues were forced to close and were the last sector of businesses allowed to resume. Even when the resumption occurred, the scope, capacity and rules for re-opening made the opportunity for revenue a shell of itself.
To qualify, business owners must have things in order. Businesses must have their taxes taken care of, their licenses updated and a Dunn & Bradstreet registration.
Too many Black business owners will scramble to pull all of these required documents and registrations together. Too many will just miss free money that was set aside to assist businesses exactly like theirs. Sadly, all of the money will be distributed, while some Black business owners never knew about the opportunity.
Many of us have been taught great lessons from our elders. The notion of a good day’s work for a good day’s pay is not enough to be successful in business. Today, businesses cannot operate in a black hole. Annually, grants, loan opportunities, and scholarships go unclaimed as Black people simply do not seek the assistance set forth for us to access.
The program rewards the patience of business owners who survived the shutdown. Businesses that qualify under the shuttered business grant program can earn up to 45-percent of gross revenues earned in 2019. Imagine if you had a business that grossed $100,000 in 2019, but couldn’t make money in 2020 because of the pandemic. You could receive a grant — not a loan — of $45,000.
Black business owners, we need to stop allowing opportunities like this slip away. This is in no way a handout, it is a helping hand. All business owners in the United States, regardless of race, are eligible for this grant. But, the program has been set up with $2 billion marked for businesses with under 50 employees on the front end so that small businesses, which most Black venues will be classified, can have a fair opportunity to compete for the resources.
I urge every Black business owner to join up with your local chamber of commerce. In Tallahassee, along with the main area chamber of commerce, we have two thriving Black chambers of commerce. The Big Bend Minority Chamber of Commerce is led by Antonio Jefferson and they’ve already held a seminar on applying for the grant. The Capital City Chamber of Commerce is led by Katrina Tuggerson, a local business mogul who is well versed in helping small businesses.
Black business owners, it’s time to handle business.
