MEMPHIS, Tenn — One million Black owned business across the country.
It's also the name and the goal of a new initiative. And Memphis is the first city to kick off the project.
Data shows there are thousands of Black owned businesses in and around Memphis, but that doesn't necessarily mean they're all thriving.
Joann Massey of the City of Memphis Office of Business Diversity said obstacles existed well before the COVID crisis.
"What we found though is that there are challenges that black businesses, minority businesses face that others don't necessarily face," said Massey.
Including: systemic racism, discrimination, lack of resources and access to capitol and technical assistance.
The 1MBB initiative is meant to provide all those things and additional support for a million Black businesses across the nation with partners committing more than $130-million to the effort.
"And the city is so happy to be a partner with Operation Hope and again, the first city to launch this initiative in," said Massey.
So happy the city has committed 500 businesses to take part in the program and is ready to welcome many more.
Starting today, interested entrepreneurs need only contact the City of Memphis Office of Business Diversity and Compliance and the process begins.
Whether you have a business idea or been in business for decades, Operation Hope bears lots of promise.
"You get access to high level resources. You get basically $25,000 dollars worth of resources and support. Something you don't have to pay for. The mentoring, business plans, helping you with your operation," said Massey.
Through Shopify each business owner gets access to an e-commerce site.
"Now, it's maybe only like $49, but that's $49 dollars you as a business owner don't have to pay. Every dollar counts," said Massey.
Budding Black entrepreneurs employing people will be a boom to the Memphis economy and 1MBB initiative organizers understand how social justice issues faced today can be addressed with sure fire options towards economic empowerment.
"If we can help those who have less resources in our community access the greater economy we will raise the quality of life for everyone in the City." said Massey.