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The Fifteen Percent Pledge Achievement Award is a significant initiative to support Black entrepreneurs who face systemic barriers in accessing funding to grow their businesses. Here is a detailed overview of the award and its impact:
The Fifteen Percent Pledge is a racial equity and economic justice non-profit organization. It addresses the inequities in the American consumer economy and works towards closing the racial wealth gap. Recognizing that Black people in the U.S. comprise nearly 15% of the population, the organization calls on major retailers and corporations to commit a minimum of 15% of their shelf space, sales revenue, and annual spend to support Black-owned businesses. This initiative has seen significant progress, with 29 corporations making long-term contractual commitments, potentially shifting over $14 billion to Black businesses.
Black startup founders received less than 1% of the total capital allocated at the end of last year, highlighting the significant barriers they face. The award addresses these challenges by creating new economic opportunities and greater equity for Black businesses.
Applicants must be:
The award is more than just financial support; it’s a step towards rectifying systemic imbalances and providing Black entrepreneurs with the resources and opportunities they need to thrive. By supporting Black businesses, the Fifteen Percent Pledge contributes to a more inclusive economy and an equitable future.
The Fifteen Percent Pledge Achievement Award is a crucial initiative in the fight for racial equity and economic justice. It provides financial support to Black entrepreneurs and signifies a broader commitment to addressing systemic barriers and creating a more inclusive and equitable business landscape.
For more information or to apply for the award, visit the official website of the Fifteen Percent Pledge.
Written by: HYFIN
Milwaukee's most music morning show every weekday from 6 am - 12 pm.
closeHYFIN is a media movement from Radio Milwaukee.
Milwaukee’s only Urban Alternative radio station features the full spectrum of Black music beyond R&B and Hip-Hop plus Milwaukee music. HYFIN connects the culture with the latest Black culture news, podcasts and more. Listen to best hip hop & R&B, dance, Afrobeats and more!
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