CHICAGO, Feb. 3, 2021 /PRNewswire/ -- In honor of
Black History Month, Bunker Labs has curated a list of Black-owned
small businesses in its current Veterans in Residence cohort.
Bunker Labs invites the community to support and buy from these
entrepreneurs and small business owners during Black History Month
and beyond.
Black entrepreneurs and small business owners face
disproportionate challenges when it comes to operating a business.
According to the Washington Post, Black business owners apply for
credit at a rate 10 percentage points higher than their white
peers, but are 19 percent less likely to be approved for financing,
and when approved, tend to receive lower amounts compared to their
white peers. According to SCORE, Black small business owners are
more likely to tap into their own cash reserves to fund their
business, and cite lack of capital and cash flow as two of their
biggest challenges.
"As we recognize the contributions of Black Americans this
month, it's important that we not only celebrate the past, but also
acknowledge the present, and look towards the future. The economic
devastation caused by the COVID-19 pandemic has decimated
Black-owned businesses all across the country," said Mike Steadman, a member of the Bunker Labs
Branding team and founder of Ironbound Boxing in Newark.
"We call on the community to support Black veteran entrepreneurs
by extending lines of credit and creating equitable access to
capital; by purchasing goods and services from Black-owned,
veteran-owned businesses; and by investing in Black-owned,
veteran-owned businesses, whether through formal investments or
contracts to deliver goods and services."
Black entrepreneurs and small business owners in Bunker Labs'
current Veterans in Residence cohort include:
- Gable Eaton, U.S. Marines Corps veteran and founder of
TeqTouch, which sells wearable tech to protect against germs on
public touchscreens
- Paul Bennings, U.S. Air Force
veteran and founder of the lifestyle brand Heavyweight Apparel
- Joshica Kiah, U.S. Air Force veteran and founder of Black
luxury natural hair and skincare brand Joshica Beauty
- Stephane Manuel, U.S. Army
veteran and founder of TrueFiktion, an ed-tech company that uses
comics, curriculum, and coaching to share the untold stories of
marginalized groups
See the full list and shop these businesses at:
www.bunkerlabs.org/black-history-month
About Bunker Labs: Bunker Labs is a 501(c)(3) nonprofit
and a national network of veteran and military spouse entrepreneurs
dedicated to helping the military-connected community start their
own business. Bunker Labs is committed to seeing that every
entrepreneur and small business owner in the military-connected
community has the network, tools, and resources they need to start
their own business.
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SOURCE Bunker Labs