ONE MILLION BLACK BUSINESSES (1MBB)& ENTREPRENEUR INITIATIVE
The wealth gap between Black and white Americans is a leading force in racial inequality and social injustice. There are only 2.6 million Black-owned businesses in the U.S., of which 96% have no employees. Black-owned businesses account for only 9.5% of the U.S. total. In the face of the COVID-19 pandemic, the number of working Black business owners has fallen more than 40%, a far deeper drop than other racial groups.
Using a combination of proven business development curriculum (both online, in-person and in virtual workshops), a dedicated group of professional small business coaches, and an expanded team of 1MBB volunteers who are industry experts in areas such as e-commerce, legal services, accounting, marketing and public relations, Operation HOPE can quickly connect program participants to the training and technical assistance needed to help them to be successful.
Jimmy has worked in conjunction with our National Political Action Chairman (Brother Britton Smith) to formalize a partnership with Operation Hope and its One Million Black Business & Entrepreneur Initiative to benefit our membership at its various levels. This partnership will also allow Kappa Alpha Psi, through our Guide Right program, the opportunity to provide educational and occupational guidance to youth as it pertains to entrepreneurship.
The partnership will include a number of joint activities (nationally and at the province and local levels) in both in-person and virtual formats. Operations HOPE will provide Small Business Counseling to existing and prospective business owners identified by Kappa Alpha Psi Fraternity.