Category: black owned business

The gist:

• Dana Chanel is a Christian influencer who was accused of scamming her customers out of millions.
• Others — including Dana’s sister, Cassandra, and her husband, Prince Donnell were in on it, too.
• The State of Pennslyvania filed a lawsuit against Dana and she was ordered to pay restitution.

As you scroll your timeline on your preferred social media app, keep in mind that not everything you see on the internet is as it seems.

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Accused scammer and self-proclaimed millionaire mentor Ashley Grayson was one of them.

Before she was hit with RICO charges, Ashley offered online courses and mentoring. She had social media in a chokehold up until customers came forward with complaints. And she isn’t the only social media star who has been accused of scamming customers. Case in point: Dana Chanel.

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This is where Dana Chanel’s husband, Prince Donnell comes in. He and his mom started a credit repair business — Jumping Jack Taxes. But customers said that they never got what they paid for.

People were skeptical of Dana long before now and a lawsuit brought by the Pennslyvania Attorney General proved their suspicions to be true. In fact, it’s been proven that sis was out here robbing people blind for years.

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Apparently, Dana’s scheme was a family affair because her dad, Nakia Rattray, and her sister, Cassaundra April Olivera — both of whom own stake in her businesses — were also named in the suit. You see, Dana and her fam didn’t go for the small con. Nope! They were in the big leagues — that was until 2021 when they got sued by the State.

In September of 2023, their victims finally got justice as Dana was forced to settle.

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A press release from the Pennslyvania Attorney General’s office reports that the influencer will have to pay more than $87,000 in damages to her victims and another $50,000 if she comes up with the money late.

“Advertising in today’s world has changed, and people trust personalities they follow online to promote desirable goods,” Attorney General Michelle Henry said in a statement.

“In these cases, consumers were misled by the influencer and businesses that did not deliver on purchases,” she added. “My office has taken a hard stance against potential harm inflicted on Pennsylvanians online.”

As of this writing, Dana has yet to comment on the controversy, but social media has a whole lot to say about it … In hindsight, she got off really easy.

By Gene Lambey,
Special to the AFRO

Black-owned companies are getting more shine than ever in the business industry. Many Black business owners are innovators, creating their own unique niche in the market. While Black entrepreneurship is on the rise, there are still too few Black-owned businesses “going public.” That is the term used when “a company undertakes its initial public offer or IPO, by selling shares of stock to the public, usually to raise additional capital,” according to the U.S. Securities and Exchange Commission (SEC).

A significant amount of capital is required for Black owned businesses to be publicly traded.

Capital by definition is any type of asset that can be used to create more value, including liquid assets like cash, as well as tangible and intangible assets.

In a data study from November 2022 the U.S. Census Bureau estimated that “140, 918 Black or African-American owned businesses had $141.1 billion in annual receipts with 1.3 million employees, and about $42.2 billion in annual payroll. About 27.5 percent or 38,819 of these businesses were in the health care and social assistance sector.”

In comparison to other minority groups, Black-owned businesses are ranked third in the job market, while Asian-owned businesses are ranked first and Hispanic-owned businesses are ranked second.

Research done by Investopedia shows that Black-owned businesses are “frequently found in industries with lower earning potential, including beauty salons, childcare, home healthcare services, janitorial services and barbershops.”

The Black-owned companies RLJ Lodging Trust, Urban One, Broadway Financial Corp., Carver Bancorp, Axsome Therapeutics and Citizens Bancshares Corporation have gone public and people are able to buy stocks from them.

RLJ Lodging Trust was founded by Robert L. Johnson and Thomas J. Baltimore Jr. in 2000 and went fully public in 2011. The Black-owned real estate investment trust which works with several hotels across the United States. RLJ’s hotels include the Marriott-owned Residence Inn and Courtyard. This also includes Hilton-owned hotels such as Homewood Suites, Embassy Suites, and separate hotels like Wyndham, Hyatt Place and Hilton Garden Inn.

RLJ Lodging Trust has made an estimated $49.7 billion in total assets as of September 2022. According to MarketWatch, buying a share from RLJ Lodging Trust costs as much as $10.05 on the stock market.

Urban One is a Black-owned radio and broadcasting company. The company owns TV One, Radio One, Reach Media, One Digital, One Solution and Cleo TV.

Urban One, the Black-owned radio and broadcasting company, was founded by Cathy Hughes with the original name Almic Broadcasting. Under Almic Broadcasting, Hughes had only one station, which was in Washington, D.C., called WOL-AM. Hughes has led this company for over 40 years. After selling stocks during the 1990s, Cathy Hughes became the first Black woman to lead and trade stocks with a media company in the stock market.

In June 2023, in an earnings report, Urban One made a profit of $484.6 million from December 2022 to June 2023. The net income was $37.33 million . According to the NASDAQ, buying a share from Urban One costs around $5.49 on the stock market, however it may fluctuate.

Broadway Financial Corp. is the holding company for First City Bank.

Founded by Los Angeles civic leaders H.A. Howard and Dr. H. Claude Hudson in 1946, Broadway Financial Corp made $1.17 billion in total assets as of September 2022. In total revenue, it has made $25.61 million. According to CNBC, buying a share from Broadway Financial Corp costs roughly $0.90 on the stock market, however it may fluctuate.

Carver Bancorp is a Black-owned bank holding company founded in 1948 by a group of Black community leaders and small business owners in New York. The main mission of Carver Bancorp is to help finance businesses, increase wealth and maintain assets where their consumers thrive. It is the holding company for the Carver Federal Saving Bank.

Carver Bancorp has made $755.72 million in total assets as of September 2022. In total revenue, it has made $13.10 million. According to CNBC, buying a share from Carver Bancorp costs approximately $2.63 on the stock market, however it may change.

In 2012, Dr. Herriot Tabuteau founded Axsome Therapeutics as a Black-owned biopharmaceutical firm that studies nervous system disorders and diagnoses, including migraines, narcolepsy, fibromyalgia, major depressive disorder (MDD) and Alzhiemer’s disease complications.

As of September 2022, Axsome Therapeutics has made $338.96 million in total assets. According to NASDAQ, buying a share from Axsome Therapeutics costs approximately $81.69 on the stock market, however the price may change.

Citizens Bancshares Corporation is a Black-owned bank holding company. It is the bank holding company for Citizens Trust Bank and Citizens Trust Bank Services. This business continues to operate, providing commercial banking services to individuals, small businesses and corporate partners.

Citizens Bancshares Corporation is one of the oldest Black-owned businesses, operating since 1921, located in Atlanta, Ga. It was founded by a group of Black businessmen known as the “Fervent Five” under the leadership of Heman Perry.

Citizens Bancshares Corporation has made $164.67 million in total revenue. According to Bloomberg, buying shares from Citizens Bancshares Corporation costs around $37.90 on the stock market, however the price may change.

These successful Black-owned companies are just a sample of the many other Black-owned businesses in the United States. The percentage of Black-owned businesses in the market has dropped slightly over the past three years due to the COVID-19 pandemic, however, they are slowly on the rise due to recent initiatives to promote diversity among business owners.

Black-owned businesses tend to have problems with receiving bank loans to start out their businesses. This is especially true for start-up Black entrepreneurs who are also looking for bank loans to start. Interest rates on business loans, bank branch density, local banking concentration in the residential mortgage market, and the growth of local businesses are markedly different in majority Black neighborhoods according to Brookings.

There are other challenges Black entrepreneurs continue to face such as limited access to startup capital, less connections to investors, and operating in lower revenue industries.

In order for Black-owned businesses to continue thriving, the Black community should work to invest in these businesses. Shopping, sharing and writing reviews, recommending businesses and supporting Black-owned banks are a few of the several ways to invest and support in Black-owned businesses.

Target is slammed for selling ‘inappropriate’ ‘Ghetto Gastro’ breakfast food range – but its founders say critics are ‘missing the point’ – and they’re using ‘food as a weapon to make an impact our on community’

• Social media users rounded on Target when it said it was selling ‘Ghetto Gastro’
• The firm, founded in 2012, brands itself as ‘Food for freedom. Fuel for Thought’
• Some took issue with use of the word ‘ghetto’ and the ‘black power’ messaging

By Stephen M. Lepore For Dailymail.Com

Updated: 01:06 EDT, 6 September 2023

MUNCIE— On Tuesday afternoon, Schaivon is surveying the damage done to his van.

“Just a quick count from the front you’ve got 1, 2, 3, 4, 5, 6 shots straight through the hood,” said Nevings.

Nevings says on Friday, a shootout happened in front of his home on Jefferson St. in Muncie.

According to the Muncie Police Department, they were called to the area of 5th and Jefferson after reports of shots fired around 8:20 pm.

The initial calls to the dispatch were a woman had been shot, but officers didn’t locate anyone who had been injured. Officers did find several shell casings in the area and a couple of vehicles and homes that had been hit by gunfire.

Nevings says his van, now out of commission, is a key piece to running his small business.

“I’m a small entrepreneur and Bob actually stands for black owned business so Bob’s Balloons is the foundation of that. This is my main source of transportation to and from events,” said Nevings.

Nevings says insurance also won’t cover the cost of fixing his van and says he’s frustrated this happened in his neighborhood.

“I really am grateful for the community I have and also don’t want this to happen to anyone else in my community, so we really have to come together and find some type of solution to make a change here in Muncie.”

Muncie now has a multi-agency task force. It formed after the mass shooting in July. A number of stakeholders are coming together to address crime rates and gun violence. They had their first meeting last week.

“Of course we discussed some of the events of the shooting last month and how its impacted the city and not just that particular incident you know some of the incidents that have happened in months before and even years before,”said Pastor John Lee.

Pastor Lee is a member of the Concerned Clergy and task force. He says part of their solution is presenting a united front and starting conversations.

“Inside families, inside churches, addressing some of the issues that have been sort of bubbling up, which is carrying guns, young folks carrying guns. The police sort of gave their insight that it’s easier and easier to have a gun these days so it’s making it harder on them,” said Pastor Lee.

The task force is planning on meeting once a month.

Anyone with information regarding the incident is asked to contact the Muncie Police Department at 765-747-4867.

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During the 123rd National Black Business Conference over the weekend Montgomery Mayor Steven Reed was named Mayor of The Year. 

The award was given to Reed as recognition for the economic development that Montgomery has seen under his tenure. The mayor’s office noted that in 2022 Montgomery led the state in economic development and Reed has been deliberate in creating a welcoming environment for Black-owned businesses. 

“In everything we do, our goal is to foster a culture of diversity, equity and inclusion,” Reed said. “This includes working to close the racial wealth gap by ensuring black owned businesses and entrepreneurs have access to the capital, capacity and information necessary to not only sustain, but grow, their operations.”

In a press release from the City of Montgomery celebrating Black Business Month Reed’s contributions to Black business proliferation were mentioned. 

“Mayor Reed’s creation of new procurement processes led to a 300-plus percentage increase in Black Owned businesses who participate in City contract process. Under Mayor Reed’s leadership, we have implemented strategies to help black businesses thrive through the “Doing Business with Montgomery” small business initiative and the Heartland Forward Builders and Backers Program. The Black Information Network examined research compiled by NerdWallet.com and Overheard on Conference Calls and listed Montgomery as the second-best city in the nation for Black entrepreneurs to start or own a business. With 28.5 percent of businesses in Montgomery owned by African Americans, Alabama’s Capital City leads all others listed in NerdWallet’s research findings.”

Last month legislators recognized Montgomery for its momentous economic development and job creation. Over the last 15 months the city obtained over 1.7 billion in investments and announced the creation of over 2,000 jobs. Montgomery was also ranked in the Top 10 of the Most Affordable Cities to Buy Home in Forbes Magazine. 

Reed also won re-election to his second term as Montgomery mayor last week prior to obtaining his award. Reed won 57 percent of the vote in the contest.

WASHINGTON, DC – The National Black Chamber proudly recognizes the outstanding accomplishments and contributions of the Delaware Black Chamber of Commerce (DEBCC), naming it the Best Chamber of the Year 2023.

This esteemed accolade comes as a testament to the DEBCC’s commitment to fostering economic growth, promoting entrepreneurship, and advocating for the interests of Black-owned businesses in Delaware.

Established in 2020 and currently at 627 members, the DEBCC has emerged as a driving force in the state’s business landscape, propelling Black-owned enterprises towards success and prosperity.

Under the exceptional leadership of Ayanna Khan, the chamber has demonstrated unwavering dedication and tireless efforts in promoting economic empowerment within Delaware’s Black community.

Throughout the year 2023, the DEBCC spearheaded numerous initiatives aimed at empowering Black entrepreneurs, providing them with resources, and connecting them with opportunities for growth.

These initiatives encompassed insightful seminars, impactful workshops, and networking events designed to foster collaborations and partnerships within the vibrant business ecosystem of Delaware.

Furthermore, the DEBCC exhibited exceptional adaptability and perseverance in navigating and mitigating the challenges posed by the global pandemic. By promptly establishing virtual platforms and digital tools, the chamber successfully transitioned its programs and services online, ensuring consistent support to its members and the wider business community.

In addition to its remarkable efforts, the DEBCC continuously strove towards addressing economic disparities by advocating for equitable policies and fostering an inclusive business environment. Through its advocacy initiatives, the chamber consistently engaged with government bodies, local officials, and key stakeholders to address systemic barriers and promote fair opportunities for Black entrepreneurs in Delaware’s business landscape.

The National Black Chamber is immensely proud to present the Best Chamber of the Year 2023 award to the Delaware Black Chamber of Commerce. Its dedication, meaningful impact, and commitment to empowering Black businesses have set new standards within the chamber community. This recognition symbolizes the DEBCC’s exceptional abilities and their remarkable contributions to the business world in general, and particularly to Delaware’s vibrant entrepreneurial ecosystem.

About the Delaware Black Chambe of Commerce
The vision of the DEBCC is to serve the needs of Black owned businesses and provide economic opportunity and support to them as well as the communities they serve. We strive to leave our footprint in the sand of Delaware’s business landscape and forge a path that leads to a steady flow of resources beneficial to our business members through relationships, partnerships and apprenticeships.

Our mission is to support the initiatives of Black business owners and foster an enterprise that focuses on success and viability. We endeavor to create awareness and visibility of our efforts at local, state, and federal levels through advocacy. We strive to provide access to education and training that keeps Black business owners in step with the ever-changing requirements of Delaware’s economic playing field.

About the National Black Chamber of Commerce
The National Black Chamber of Commerce©, NBCC, a 501c3 organization, is the largest Global Black Business Association, celebrating its 30th year anniversary, of advocating to economically empower and sustain African American communities through entrepreneurship, and capitalistic activity within the United States, and globally, via interaction throughout the Black Diaspora.

NBCC is on the leading edge of educating and training Black communities on the need to participate in this great capitalist society of global commerce. NBCC is the largest federation of Black Chambers of Commerce in the world and celebrates 30 years of service to Black businesses throughout the United States and internationally. To learn more, visit www.nationalbcc.org.

ASHLAND, Ore. — Ashland Dance Works has been serving the Rogue Valley for about 13 years.

The studio offers dance classes for all ages such as children, teens, and adults.

Aisha Wand, Owner, and Director of the studio said she has been teaching for about 20 years.

“I started off teaching mostly children,” says Wand. “But, then I realized it was time to open my own business. And it just started growing and growing.”

Ashland Wand is one of the few Black-Owned businesses in the Rogue Valley. Wand said having these businesses is a step toward a more unified community.”

“Just like any city,” says Wand. “As we’re growing I think the more community we build, the more people will come to that community and get involved and be a part of it. Definitely, for Black people, I think it has its challenges because we’re pretty isolated and it’s a small percentage.”

The dance studio offers Jazz, Contemporary, Ballet, Hip Hop, and what the organization calls ‘Barre.’ It is a ballet-based fitness class.

“Just be able to let go of some of the outside hardships that are going on in the outside world today,” says Wand. Just having body awareness and having the ability to move your body is so important.”

Wand believes the more unified the community is, the more unified it will be.

“The more businesses that open up here, the more I feel people of color will come to this area,” says Wand. “And see it as more of a diverse unified place. The more we are a community and build community, the tighter we’ll be.”