Nicole Murphy's Barter Black Is Rebuilding Black Wall Street
BWHM: Nicole Murphy’s Barter Black Is Rebuilding Black Wall Street—One Entrepreneur at a Time [Exclusive]
“What’s next?”
That’s the question Nicole Murphy asked herself when sudden unemployment forced her into entrepreneurship in 2014. A new opportunity came within the property management industry but when the pandemic hit, her company became one of the 450,000 black-owned businesses to close its doors by April 2020. She then found herself making another inquiry, “Why aren’t we—Black people—helping each other more?” Discovering why, but more importantly, how, became her new undertaking.
The answer came in a pivot. A sharp left turn that drifted her deeper along the detour of entrepreneurship and into the uncharted seas of tech. On the journey, she discovered what intuition prompted as the solution all along: community. That community blossomed into what we know today as Barter Black.
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Built for Black entrepreneurs by Black entrepreneurs, the platform combines cutting-edge technology with the power of community-driven bartering. Inspired by her own entrepreneurial experiences, Murphy uses Barter Black to facilitate her mission of breaking down the barriers that often prevent Black entrepreneurs from scaling their businesses.
No. 1 on that list—lack of funding.
“We [Black female business owners] receive less than one percent of venture capital funding. One of the things we have to realize is that the money is probably not coming for our businesses,” Murphy said. She presents Barter Black as an alternative way to scale. A one-stop shop where entrepreneurs can save money, hire experts, and have community all in one.
There’s that word again. Community is a foundational principle in Murphy’s life and a core value within Barter Black motivated by her hate for gatekeeping.
A lack of community is No. 2 on the list of barriers.
“We have to rely on each other,” Murphy said. “Black Wall Street created an ecosystem where our people could thrive. Barter Black is that ecosystem for the present-day entrepreneur.”
This same community supported Murphy when Barter Black closed its doors for six months.
In 2024, she made the tough decision to shut down for a revamp. This time allowed for a total revision of the business’s foundation, systems, and offerings. When it was time to relaunch Barter Black, members stepped in to provide the services she needed.
While she admits the decision to close and relaunch was “scary,” even scarier was the thought of having to do it all alone. Murphy wants Black women to know that just because you can do everything, doesn’t mean you should. “Black women do everything well. But when you don’t ask for help, you create a ‘no’ for yourself. So ask and ask big,” she said.
Per Murphy, hiring help breeds longevity and combats the third barrier to Black entrepreneurial success—sustainability. “We can’t build sustainable businesses if we don’t hire. But we can’t hire if we don’t have funding,” she explained of the vicious cycle.
Murphy notes that personal sustainability is equally important. She agrees that burnout is real, but rest makes for smarter, better businesswomen. Barter Black is her solution to both. With accessible products and services, grant lists, and built-in wellness programs for members, she is promoting sustainability for the whole person, not just the business owner.
As Barter Black grows, Murphy plans to expand member services with partnerships that offer greater opportunity for entrepreneurs to be well-rounded. That includes access to higher education communities, Barter Bucks credit, and the Barter Black app tour.
This Women’s History Month, Murphy wants Black women entrepreneurs to fight the barriers to their success by leaning into their communities. “Dont be afraid to let your community in on your journey. Let them help you grow and scale.”
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