Editor’s note: Thom Rhue is CEO of the NC IDEA Foundation.
DURHAM – Several weeks ago, we announced our intention to form a Black Entrepreneurship Council. Inspired by a rich history of successful Black entrepreneurs in North Carolina, it is now (past) time to reclaim that history and help Black founders write new chapters. The reaction to this announcement was overwhelming; and mostly positive.
Curiously (unfortunately) I did receive some negative reactions, the vilest of which I disregard; but, take as affirmation of the problems we seek to address. Apparently, some see an effort to support Black entrepreneurship being at the expense of neglecting others. At the risk of stating what should be obvious, that isn’t the case. But the fact remains, Black and Brown entrepreneurs have disproportionate hurdles to overcome. This effort is simply focused on leveling the playing field so that more people can share in the prosperity offered by entrepreneurship.
NC IDEA names 25 leaders from across state to NC Black Entrepreneurship Council
Entrepreneurship is additive and NOT a zero-sum game. The success of Black (and Brown) entrepreneurs doesn’t come at the expense of others.
On the contrary, data shows the more diverse our entrepreneurial ecosystems become, the more resilient our economy will be. This also motivated a recent grant announcement we made to elevate Hispanic entrepreneurship in North Carolina. In addition to helping Hispanic entrepreneurs, our partner Prospera is matching our grant, dollar for dollar. Together we will support this community that has enormous potential for substantial economic impact.
The inequities and challenges faced by people of color has only strengthened the resolve of our Board and Staff to help the underserved. But there is room for everyone to support this effort. In doing so, we elevate all communities; hopefully to the point that someday we will consider ourselves members of the same community.
We now have an incredible group of individuals that have generously committed to helping us do that. To the newly appointed members of the Black Entrepreneurship Council, and the 100+ others that applied, thank you for helping us with this important work. It is our privilege to support this effort and we look forward to engaging other organizations as we build a new (national) model for inclusive and equitable economic development.
