WisBusiness, November 16, 2023, Color Bold: Support Local Black, Indigenous And People Of Color (BIPOC)-Owned Businesses With The ColorBold Business Association Inc.
ColorBold Business Association Inc., a resource for all people of color locally, nationally and globally headquartered in Green Bay, Wisconsin, is encouraging people in the Northeast Wisconsin region to take advantage of all the benefits of supporting and shopping at Black, Indigenous and People of Color (BIPOC)-owned businesses this holiday shopping season.
“Research has revealed the challenges that BIPOC-owned businesses face in obtaining funding and resources. That’s why it’s crucial to offer support and a platform for BIPOC business owners to showcase their contributions to the community,” explained Kimyatta Ratliff, president and CEO of ColorBold Business Association Inc. “Recognizing the significant impact these businesses have on our economy, culture and neighborhoods can foster valuable connections for everyone. Ultimately, when we support businesses owned and operated by people of color, our entire community thrives.”
A study by the National Community Reinvestment Coalition in 2017 found banks were twice as likely to provide business loans to white applicants than Black ones. As a result of this lack of capital funding, many Black-owned businesses are sole proprietorships and are more likely to hire from the local community, fostering job opportunities at the local level and enhancing economic growth.
