Millions Allocated to Start 3,000 Black Businesses Challenge Through the Wisconsin Black Chamber of Commerce

Millions Allocated to Start 3,000 Black Business Challenge Through the Wisconsin Black Chamber of Commerce CEO’s Plan.

Millions Allocated to Start 3,000 Black Businesses Challenge Through the Wisconsin Black Chamber of Commerce
Milwaukee, WI, March 03, 2023 --( Ever dreamed of being your own boss? The Wisconsin Black Chamber of Commerce is looking for new Black Entrepreneurs, committed to growing a business in the state. As a result, “The 3,000 Black Business Challenge” was created. Black Americans spending power reached a record 1.6 Trillion in 2021 according to CNBC News.

Ruben Hopkins, Chamber CEO, came up with the concept and his team of committed leaders are diligently working to reach the goal. Ruben Hopkins said: “I started the Chamber 16 years ago, due to the need for economic development in the Black Community. This past week, we committed to deposit $1 Million Dollars into the states 99-year old, only black-owned bank, Columbia Savings and Loan. Our mission is to make black people the largest employer of black people, and in order to do that, we need to create a lot more businesses in our community.”

Strategic Networking, Workshops, Financial Education, Bank Partnerships and more, are offered to close to 1,000 members of the Wisconsin Black Chamber of Commerce. “Regular community events build confidence, collaboration and cohesion. Every week is Black Entrepreneur Week right here! Entrepreneurs need resources to compete, but black business owners face even more challenges when starting a business,” The Chamber CEO Ruben Hopkins stated.

According to The Intuit Quick Books report, it shows that 57% of Black business owners compared to 37% of non-blacks were denied a bank loan at least once. The Chamber will connect new businesses with banks to help walk them through the process. Business owners learn how to hire and train employees as mentors show them how to plan their growth. Because US Census data stated, only 124,000 of the over 2 million black-owned businesses in America have hired employees.

Bank of America’s Women & Minority spotlight revealed almost half of Black Woman Business Owners challenges include:
• 46% face access to capital challenges
• 39% lack relationships with lenders
• 21% Don’t know where to apply for capitol

With challenges and factual obstacles faced, Black Entrepreneurs are still optimistic, creative and focused on uplifting their families, like most entrepreneurs.

The Wisconsin Black Chamber of Commerce’s 3,000 Black Business Challenge will generate more needed employment opportunities. They invite new entrepreneurs to join them.

Media Opportunity Options:
Interview: Successful Chamber Member’s Businesses
Interview: Wisconsin Black Chamber CEO Ruben Hopkins
Discuss: Free Chamber Events, Community Business Opportunities, local and national funding programs
Contact: Media Office (312) 800-2911
The Wisconsin Chamber of Commerce
Prinses Hemphill