30 Blue-chip Companies Pledged to Support Black Businesses and BLM
National Minority Supplier Development Council (NMSDC) is the one to start the “In This Together” campaign. This campaign has 30 blue-chip companies, including ExxonMobile, Capital One and Nissan North America Inc, pledging to support Black businesses and the Black Lives Matter movement. “In This Together” aims to raise $1 billion dollars for certified minority businesses to overcome the hits from Covid-19.
Adrienne Trimble, CEO and President of NMSDC, told Black Enterprise he hoped to raise the billion in a year. Saying he made $600,000 in the opening week! That’s an insane number for the first week! Trimble called for action in a powerful statement.
““Prior to the pandemic and social injustice events, NMSDC was working strategically to close the economic gap between Black and minority businesses; now, the gap has widened due to the unprecedented activities that changed the trajectory globally. This is not a social call to action but one that will position Black and minority businesses to sustain throughout and propel beyond this pandemic as well as continue to recreate job opportunities for the communities they serve.”
As of May of this year, 41% of Black businesses have closed due to COVID. That’s a sad statistic and just means that we need to keep looking for those few left and support them. The NMSDC is giving 4 initiative options for companies to invest in.
The REBUILDING Fund is to help businesses recover from loss they have suffered from COVID and protest damage they received. The Minority Business Advocacy Initiative is focused on killing the racial wealth gap. This initiative is also trying to close the startup cost gap for minority businesses. The Business Consortium Fund is the next initiative and it’s focusing on financing growth and development of NMSDC certified Minority Business Enterprises (MBEs) in corporate and government chains. Lastly, The NMSDC Academy which provides learning opportunities for MBEs. This initiative includes some amazing partners.
What an amazing thing NMSDC is doing for Black businesses. We NEED to look for these businesses or that 41% will grow and that would be a tragedy. The surgeon who braided hair before surgery is a prime example of why we need these Black businesses. So support a brother or sister! If you wanna pledge click here.
Share to your platforms
More articles here!