Throughout the business-building process, Minority business owners face many economic, sociocultural, and institutional barriers. The challenges of access—to capital, expertise, and culturally relevant business services make starting, sustaining, and growing a business more difficult for entrepreneurs of color. Additionally, sociocultural barriers encompass the biased and exclusionary ways in which entrepreneurs of color are often blocked from gaining social capital, such as helpful relationships that make up business networks.
Melanence is a business ecosystem that leverages community to make starting, sustaining, and growing a business easier for entrepreneurs of color. We leverage technology to address insufficient access to capital, resources, and support for Minority-owned businesses. As the conversation around generational wealth for the Black and Brown community increases, so should the focus on creating ecosystems of support for entrepreneurs of color.
We know that by championing Minority-owned businesses we are working toward a more equitable society. Supporting Minority-owned businesses builds relationships and boosts community morale. Support of Minority-owned businesses can fuel the Black and Brown community’s economic prosperity. Support of Minority-owned businesses can increase the flow of wealth to Black & Brown families and communities.