Cities across the U.S. have a clear opportunity to boost their economies by increasing the number of Black-owned businesses that serve as employers. Recognizing this potential, The Brookings Institution’s Metro Center for Community Uplift initiative is on a mission to help communities, policymakers, and grassroots organizers understand the crucial role of Black entrepreneurship. In June 2025, Brookings launched the Black Business Parity Dashboard. The dashboard shows the number of businesses and jobs, as well as the potential revenue and payroll generated if Black business ownership were to match the Black population in metro areas, according to a Brookings news release. Brookings’ research indicates that Black Americans outperform the national average in entrepreneurial traits tied to business success. However, systemic financial barriers — such as limited access to credit and the long-standing denial of wealth-building opportunities — have hindered growth. Centuries of denying...

The Black Opportunity Fund (BOF) — a Toronto, Canada -based community-led charity — has launched BOF Capital to expand access to business and housing capital for Black entrepreneurs. The initiative includes two primary fundraising goals: a $100 million private equity growth fund to support Black-owned businesses and a $50 million shared equity housing fund to help Black Canadians purchase homes, according to The Globe and Mail. While fundraising is still in its early stages, BOF Capital intends to have both funds secured by the end of 2025. “We know where we are going for that first $150 million and now what we are doing is bringing them in and having conversations with those anchor investors to get everything papered and do the due diligence,” BOF’s CEO Craig Wellington said, per the outlet. “We have essentially been holding them back, some of them for three years.” Leaders on Bay Street — based in the center of Canada’s financial sector in Toronto — founded BOF in 2020 to help...

Former NBA player Jason Kidd has invested in another soccer team. As AFROTECH™ previously told you, the 10-time NBA All-Star and current head coach of the Dallas Mavericks has continued to pursue his passion for sports well beyond his playing days. As an investor, his portfolio includes two soccer teams based in his hometown of Oakland, CA: Roots SC (men’s) and Soul SC (women’s). “In The Town when you talk about sports, we all had heroes. I’m excited to join the Roots and Soul family,” Kidd said at the time, according to Andscape. “I’ve been seeing videos of all the support they get. I’m just trying to help the family. I especially like that there are both male and female teams. Also, with the teams being in The Bay, I felt like it was a great fit.” Everton Added To Portfolio Now, Kidd has invested in another soccer team, this time joining Roundhouse Capital Holdings, which is part of The Friedkin Group, the ownership group of English Premier League club Everton, mentions ESPN. The...

Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Trump’s tariffs have upended multiple industries. For bigger companies like Apple and Microsoft, or fast fashion behemoths like Zara, tariffs can be easily avoided by moving their distribution elsewhere. But for smaller businesses that don’t possess the same infrastructure, they don’t have that ability. Most Americans would agree that manufacturing should come back to the United States. Over the past decades, companies have moved their work abroad to take advantage of lower wages and the lack of unions that protect workers from abuses. In short, it’s easier to take advantage of the cheap labor offered in other countries like China, Thailand, and Vietnam. The whole system is inherently problematic, especially when we look at how workers in the United States are constantly berated and not treated properly. Moving manufacturing back to the states will also mean, unfortunately, that prices for goods...

Will Packer knows a thing or two about spotting a good story. With films like “Ride Along,” “Think Like a Man,” and “Stomp the Yard,” he’s turned everyday moments into box-office gold, built characters we root for, and created cultural blueprints that stick. But when the call came offering a confidential shot at owning a piece of an NFL team — no details, no guarantees — this wasn’t a plot twist in a film. This was real life. And it didn’t come with a pitch deck or press release. It came with a non-disclosure agreement and the vaguest of possibilities. “I said, NFL? National Food League?” Packer joked. “Because I know the NFL doesn’t just let people in.” The terms? Mysterious. The team? Unknown. The risk? High. But Packer signed the NDA anyway. That moment — unflashy, uncertain, but undeniably bold — set off a chain of events that would lead him not just into the NFL ownership circle but into a growing movement to rewrite what power and equity look like in professional sports. Fast...

Tariffs on imported goods imposed by President Donald Trump will impact small business owners. AP News reports that the Trump administration has announced new tariff policies, including a 34% tax on imports from China, a 20% tax on imports from the European Union, and a 10% baseline tax on most imports. According to a press release from the White House, the 10% baseline will take effect at 12:01 a.m. EDT on April 5, 2025, while the countries with higher tariff rates will have to comply by at 12:01 a.m. EDT on April 9, 2025. Trump hopes to restore balance to global trade and believes imposing these tariffs will lead to billions in revenue for the U.S., AP News notes. “I will sign a historic executive order instituting reciprocal tariffs on countries throughout the world. Reciprocal, that means they do it to us and we do it to them… This is one of the most important days in my opinion in American history,” Trump said during a “Make America Wealthy Again” event on April 2, according to...

Small business owners face a variety of risks, from economic downturns to lawsuits and unexpected disasters. When financial difficulties lead to bankruptcy, many business owners wonder if insurance can provide any protection. While insurance is designed to mitigate risk, not all policies cover bankruptcy-related losses. Understanding which types of insurance can help and what limitations exist is essential for business owners navigating financial uncertainty. The Role Of Business Insurance In Financial Protection Business insurance serves as a safety net against potential financial losses, but most policies are structured to cover specific risks such as property damage, liability claims, or employee-related incidents. Traditional business insurance does not directly cover bankruptcy, as bankruptcy itself is not considered an insurable event. Instead, insurance policies focus on protecting businesses from events that may contribute to financial distress, such as lawsuits, theft, or...

Serena Williams has ownership in a new sports team. As AFROTECH™ previously reported, the tennis legend is an investor in the National Women’s Soccer League (NWSL) club Angel City FC, alongside her family, which includes her husband, Reddit co-founder Alexis Ohanian Sr., and their two daughters, Alexis Olympia Ohanian Jr. and Adira River Ohanian. According to a press release, Williams has officially joined the ownership group of the WNBA’s Toronto Tempo, which is owned by Larry Tanenbaum’s Kilmer Sports Ventures. Williams’ presence is also a full-circle moment, as she launched her career journey in Canada back in 1995. View this post on Instagram A post shared by Serena Williams (@serenawilliams) “I am thrilled to announce my ownership role in the first Canadian WNBA team, the Toronto Tempo,” Williams said in the press release. “This moment is not just about basketball; it is about showcasing the true value and potential of female athletes — I have always said that women’s sports...