A panel event in downtown Minneapolis Saturday aimed to connect black entrepreneurs to resources and support to get their ideas off the ground.
The goal of the Village ^2: Black Economic Empowerment Symposium was to equip them with knowledge of the process to business ownership, as well as taxes, tracking expenses, invoices, payroll and more, so they feel more empowered to make it happen.
Me'Lea Connelly, the Vision & Strategy Lead with northside credit union Village Financial Cooperative, says many people of color have historically (and even currently) been denied business loans and now work is being done to empower communities.
"We don't really know exactly why other than this is another example of systemic racism and institutional racism, which is why we have to get more intentional with building pathways specifically for black folks," Connelly said.
One of the entrepreneur attendees was Shanta Mayweather, who co-owns Asili Hair Boutique, LLC with her cousin where they sell natural hair care products for textured, kinky, coily, loc'd and curly hair. She's trying to move forward with a brick and mortar but has trouble getting start-up funding.
"What they want me to do is, 'Take this route,' or 'Do more homework,' and I've been doing homework for two years," she said. "I've been doing market studies for two years. I've been talking to people for two years. I know what the community's asking for and I see a need and we're trying to fulfill that need. But we can't get help from banks or sometimes credit unions."
Though she's felt discouraged, she's says she's determined to continue to grow her business. But she wishes that the process to take an idea all the way was easier for someone with a nontraditional business and entrepreneurship background.
Some of the help at the event included information on taxes, building a website, tracking expenses, invoices, payroll and more.
Connelly wants entrepreneurs to know that even if they're working their dream business on the side or from their kitchen, everyone should feel they have the ability to follow their goals.
"A lot of folks that are entrepreneurs don't know that they are," she said. "They feel that they have to have a certain thing or wear their clothes a certain way or have certain information. What we want to do is instill confidence in people running businesses.
The event was first announced in Mayor Jacob Frey's State of the City address earlier this month.