Study after study has declared that Black women entrepreneurs are growing faster than any other segment. Yet Black women still have major difficulties raising capital.
This prompted Lauren Bealore, Brittany Daisy Colston, and Courtney Griffin to try and change things. Through their nonprofit Young, Ambitious and Beautiful (YAB) they want to help turn more Black women-owned businesses into the Fortune 500s. Right now, YAB works with 30 venture partners and a community of more than 3,000 people online to help connect Black businesses with venture capitalists and funding partners.
“The nonprofit helps their ‘Venture Partners’ or the women-owned businesses that have applied and received entry to their program, in three main areas: Business & Development, Community Engagement and Mentorship, and Personal Development,” reported NBC News.
The nonprofit helps their “venture partners,” or the women-owned businesses that have applied and received entry to their program, in three main areas: business and development, community engagement and mentorship and personal development. “We each have an area that’s befitting of where our personal careers lie,” Bealore explained.
YAB offers such services and support systems as one-on-one and group coaching, hosting events with different co-working spaces, and providing opportunities. Besides the one-on-one and group coaching, YAB also hosts events with different co-working spaces to open up networking opportunities as well as to offer office space that is lower than the cost of having a “brick and mortar” operation.
The women behind YAB draw on their own expertise to help other women. Bealore, who works in politics and has experience with running campaigns, fundraising, and strategic partnerships, oversees YAB’s business development. Griffin handles the community engagement vertical, and Colston covers the personal development sector.
Bealore said she wants to show participants that “being a ‘hustlepreneur’ and being an entrepreneur are two different things.” She added, “If we keep continuing to treat business as if it’s a side project and not as if it’s to create a conglomerate or movement or an enterprise, than I think that’s one step closer to changing what we have historically found with women of color and business being synonymous.”