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Daymond John of 'Shark Tank' Seeks to Empower Black Entrepreneurs in Fourth Annual Initiative

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Daymond John's Black Entrepreneurs Day Returns for Fourth Year

A Celebration of Black Business

Daymond John, the renowned "Shark Tank" star and FUBU CEO, is gearing up for the fourth edition of Black Entrepreneurs Day. This event, dedicated to honoring and empowering Black business owners, is scheduled to take place on November 1. The star-studded occasion will feature notable guests such as Whoopi Goldberg, Shaquille O'Neal, Cedric the Entertainer, Anthony Anderson, and Rick Ross, who will share their personal journeys as Black entertainers and entrepreneurs.

Empowering Entrepreneurs with Grants and Mentorship

One of the highlights of Black Entrepreneurs Day is the NAACP Powershift Entrepreneur Grant partnership. Eight deserving entrepreneurs will be awarded $25,000 each, along with the opportunity to receive mentorship from Daymond John himself. The grant attracts tens of thousands of applications, surpassing even the submissions received by the globally recognized show "Shark Tank."

Supporting Black-Owned Businesses

The COVID-19 pandemic disproportionately impacted Black-owned businesses, with many struggling to access federal assistance compared to their white counterparts. Daymond John acknowledges this disparity and aims to address it through initiatives like Black Entrepreneurs Day. The grant funds and mentorship provided have helped numerous businesses flourish and remain operational during these challenging times.

Corporate Support and Continued Commitment

While the enthusiasm among corporate sponsors may not match the levels seen in 2020, when the event launched amidst the COVID-19 pandemic and widespread Black Lives Matter protests, Daymond John emphasizes the importance of sustained support. He commends brands like Chase, T-Mobile, The General Insurance, and Shopify for not only providing financial assistance but also investing in the Black community and actively working towards long-term solutions.

Looking Beyond Donations

Daymond John urges companies to go beyond one-time commitments and ensure diversity within their organizations. He emphasizes the need for representation and understanding the systemic issues that persist. By having individuals who reflect the communities they serve, companies can better address the needs of Black businesses and avoid chasing fleeting trends. In conclusion, the upcoming Black Entrepreneurs Day promises to be an inspiring and empowering event for Black business owners. With a star-studded guest list, grant opportunities, and mentorship from Daymond John, this initiative aims to uplift and support the Black entrepreneurial community.

Impact of Daymond John's Black Entrepreneurs Day on New Business Formation

Black Entrepreneurs Day: A Catalyst for Black Business

Daymond John, the celebrated entrepreneur and TV personality, is set to host the fourth edition of Black Entrepreneurs Day. This event, which celebrates and empowers Black business owners, could potentially inspire and facilitate the formation of new businesses. With high-profile guests sharing their entrepreneurial journeys, the event promises to offer valuable insights for aspiring business owners.

Grant Opportunities and Mentorship

The NAACP Powershift Entrepreneur Grant partnership, a highlight of Black Entrepreneurs Day, offers $25,000 each to eight deserving entrepreneurs. This financial boost, coupled with mentorship from Daymond John, could significantly impact the growth and success of new businesses. The large number of applications the grant attracts indicates the high demand for such support among new and existing entrepreneurs.

Corporate Sponsorship and Sustained Support

While corporate sponsorship levels may have dipped since the event's inception amidst the 2020 COVID-19 pandemic and Black Lives Matter protests, John stresses the importance of continued support. Companies like Chase, T-Mobile, The General Insurance, and Shopify are commended for their ongoing commitment to investing in the Black community and seeking long-term solutions.

The Call for Diversity and Representation

John's call for companies to ensure diversity within their organizations and understand systemic issues could influence new business formation. By promoting representation and addressing the needs of Black businesses, companies can contribute to a more equitable business environment. In this hot take, the upcoming Black Entrepreneurs Day is seen as an important platform for inspiring and supporting the formation of new Black-owned businesses. The event's combination of financial opportunities, mentorship, and advocacy for diversity and representation could have a lasting impact on the business landscape.
Story First Published at: https://www.cnbc.com/2023/10/10/shark-tank-star-daymond-john-hosts-black-entrepreneurs-day.html
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