Advancing Black entrepreneurs A new program enlists the help of many to lift businesses. BY JOHN UNREIN The economic fallout from the COVID-19 pandemic has been devastating for US small businesses, with many experiencing dramatic declines in revenues and cash liquidity following the government-mandated closures that began in March. The effects of the economic downturn have been especially severe for Blackowned businesses- many of which entered this crisis undercapitalized. As a step toward helping Black-owned businesses recover and move forward, a coalition of four business advocacy groups - the National Minority Supplier Development Council, US Black Chambers, National Urban League and Black Enterprise - have partnered with JPMorgan Chase to launch Advancing Black Entrepreneurs by Chase for Business. Together with Chase Business Banking, these organizations have developed an educational curriculum designed specifically for eligible Black entrepreneurs on key topics that are vital to business growth and sustainability. Kamal Grant, owner of the Atlanta-based Sublime Doughnuts and a Chase for Business client, shared his insights about why it is critical for Black entrepreneurs to have relationships with banks and the importance of new programs like Advancing Black Entrepreneurs. "I am excited to be a part of this program. It is a tough environment for Black entrepreneurs, and it is great to see Chase have this curriculum to develop the ins and outs of a well-oiled business," Grant says. "Seeing a program like this can help us address the important sions. It's important to learn how to grow your wealth and build on that." Kamal Grant of Sublime Doughnuts sees a positive road ahead to grow his bakery business. JOHN UNREIN issues and bring people together to have positive discus- 20 < SEP-OCT 2020 | bakemag.com 020_BA_Oct20_F1.indd 20 9/21/2020 7:17:35 AMhttp://www.bakemag.com