According to the Small Business Administration (SBA), Black business ownership is growing at the fastest pace in 30 years. That’s an amazing headline, but let’s do the numbers: Black Americans make up about 12.4% of the U.S. population, but we only represent 2.4% of all business owners, per USA TODAY. We’re making progress, but there’s so much wide open space for us to claim as entrepreneurs. I believe that Black Americans have been so underserved by product and services companies that there are no saturated markets. Imagine creating a product that fills the gap for a Black consumer and scaling that product to Black consumers throughout the US, then the Caribbean — and don’t get me started thinking about the possibilities on the continent of Africa. I dream big, but I’m not the only one. In fact, we’re in the midst of what’s being called the Black Business Boom, where 77% of Black professionals are dreaming of starting their own business. This surge isn’t just a trend; it’s a...
Editorial note: Opinions and thoughts are the writer’s own and not those of AFROTECH™. All the recent talk about Black jobs got this career expert thinking about one of the best career development investments money can buy for Black professionals — AFROTECH™ Conference. And no, the Blavity team is not paying me to say this. It truly is not your average conference. In 2023, AFROTECH™ Conference had 35,000 city-wide participants, over 160 enterprises, and more than 200 speakers, solidifying it as the largest gathering of Black tech professionals. Keep in mind that it’s also not a cheap ticket. The companies that show up, host events, and sponsor employees and recruiting teams to attend are signaling their willingness to make a substantial investment in Black businesses and Black talent. I’ve been going since the very early days and can attest that it’s a place where connections are made, ideas are sparked, and careers are launched. I was surprised last year when I saw some...
Money. Every single one of us is working for it, it’s why we’re logging into these computers everyday, but for some reason, it’s also something we’re scared to talk about. In a recent LinkedIn survey, 40% of Black professionals felt like they were underpaid, but get this; only 30% had plans to ask for a raise, and 34% of us feel the hardest part of job searching is salary and benefits negotiations. If we agree that we’re all working for money–Lord knows I work HARD for mine–then why are we so scared to talk about compensation? By traditional measures, the U.S. labor market looks pretty good on paper. According to the Bureau of Labor Statistics (BLS) data, the U.S. economy added more jobs than economists expected in February 2024, however, on LinkedIn we’re still seeing just one job opening for every two applicants. My goal is to help people, who plan to stay in their roles, better understand how not to leave money on the table and to help folks negotiating for new opportunities arm...
Back in 2020, many Black professionals felt like they didn’t have much say in their careers. We were reacting to the uncertainty of the world — understandably so — awaiting guidance from companies, accepting less than stellar pay and putting our professional passions on hold to prioritize stability. It’s been a grind, it’s okay to feel it and you’re not alone. Fast forward to 2024, Black professionals are ready to take back their power over their careers. LinkedIn research found that just over 40% of us feel that we’re underpaid, and despite the most competitive job market in recent years, Black professionals are thinking about changing jobs. In fact, in 2024, Black professionals are THE MOST LIKELY group to consider a job move (90%). Conventional wisdom has always told us to work twice as hard if you want to survive — particularly in tough economic times. We’ve been conditioned to attempt to out-sweat everyone else — just to survive, and it has led to Black professionals assuming...