Another one (Dj Khalid voice). Cosmetic brand Juvia's Place is coming through with the bag caping for black creatives in the entrepreneur space. First Glossier and now Juvias Place keep them coming. I hope other brands are taking notes I know DEEP Beauty Cosmetics is for sure. I remember when Glossier first announced that they would be donating 1 million dollars into the black community and that they would be providing business grants for black-owned beauty brands totaling 500K, my heart literally sank with nervousness and excitement. Mainly because they were only choosing 15 of the 10,000+ applicants that applied. Can you say needle in a haystack? Yes, that's exactly how I felt after submitting my application. I knew the odds were stacked up against me. Although I did not win the business grant I was still content because I knew that another black business owner would and for that I was humbled quickly with gratitude.
"Every great dream begins with a dreamer. Always remember, you have within you the strength, the patience, and the passion to reach for the stars to change the world".
- Harriet Tubman
Juvia's Place grant initiative was open to the public beginning sometime in August up until August 31st. You don't have to ask, yes DEEP Beauty Cosmetics applied. The grant consist of 50K totaling 300k that would be issued to only 6 applicants. Again needle in a haystack but then again, there is always at least one eye who will see that needle. Yes with the same nervousness and excitement as with my application with glossier I clicked submit and sent a prayer up. Again if I don't win I will still be filled with the same gratitude because another black-owned business will be funded. Funding is the most difficult when starting any business literally from scratch, and when I say scratch I mean just that no inheritance, no venture capital, no loans. Even the owner of Juvias Place ChiChi Eburu was no stranger to this financial struggle in her beginnings stating "As a Black-owned business, I understand firsthand the financial obstacles Black entrepreneurs face. I started Juvia’s Place with just $2,000 and a dream. I, like so many others, didn’t have access to lending, or a trust fund”.
These are a few disparities Black Women-Owned Businesses Face:
- Black women are starting businesses at the fastest rate of any racial group and hold a ranking of 42% of all net new women-owned businesses according to research by American Express.
- Women receive less than 2% of venture capital funding and black women only receive less than 1% of that funding.
- Black-owned businesses declined by 41% according to the impact of Covid-19. White-owned businesses fell only by 17%.
- Digital Undivided found that even when start-ups led by black women get funded, they receive an average of $36,000 each, which pales in comparison to the average $1.3 million given to white male-led companies.
The difference in the grant requirements for Juvias Place compared to Glossier is that they were allowing other businesses outside of the beauty niche to apply, how incredible is that. The more powerhouse brands do to step out and step up to demonstrate true allyship with the black community and to those who support them we could reach new milestones that we never have seen before.
"Change will not come if we wait for some other person, or if we wait for some other time. We are the ones we’ve been waiting for. We are the change that we seek".
- Barack Obama