Meet Sharifah Hardie, the founder and CEO of the newly launched Support My Black Business, a crowdfunding platform designed solely to assist local Black-owned businesses to generate funding. Her goal is to help Black entrepreneurs raise $1.5 billion to help them keep their doors open.
The repercussions of the global pandemic are yet to be over, especially for Black entrepreneurs who are struggling to grow their businesses. Businesses need financial support to survive the fierce competition and the still-changing economic scenario due to the ongoing pandemic.
In a situation where entrepreneurs are finding it tough to get their loans approved or get funding from other sources, regulatory crowdfunding platforms have come up with quite a boon. Crowdfunding platforms are making it easier for businesses to break barriers. They are helping to support livelihoods, emergencies, and communities, and they are playing a major role in reducing glaring economic inequality.
The real challenge, however, is educating entrepreneurs about crowdfunding platforms, raising awareness, and assisting businesses in making the best use of them. Education and motivation are the keys – businesses need to understand that crowdfunding does and will help to grow their business.
Through Support My Black Business, Ms. Hardie encourages people to join hands and do their best to help the Black community thrive. Support My Black Business allows business owners to launch a campaign and tell their own unique story and start the fundraising process.
At the same time, business owners are encouraged to promote themselves, talk about their mission goals, flaunt their capabilities, and use the most enticing words so that the people understand their capability and are willing to donate.
Donations of any size are allowed, and all donations go directly to the business owner.
“During a global pandemic, 41% of Black businesses closed across the county. That’s nearly half a million businesses that are gone. They are no longer operating, and we didn’t have that many Black businesses to begin with,” says Sharifah.
“I knew I had to do something. I had no idea what I needed to do. Then I watched a video online about these three Black sisters who owned an ice cream shop. Their business was struggling. They were getting ready to go under. They went to their father and asked him what to do. Their father encouraged them to create a GoFundMe page. The sisters were embarrassed. They felt like they were begging by asking for people to give them money. Their father told them that they either crowdfunded and allow people to help them or they go out of business. Those were their options. They listened to their father, raised nearly $30,000, and are still in business to this day. I knew then that if it could work for those sisters, it could work for more sisters and brothers across America, and Support My Black Business was born!”
To create a campaign or to donate, visit SupportMyBlackBusiness.org today!