Local business leaders come together to help black businesses grow
Channel 2 realizes the income disparities between white families and those in black and brown communities.
The U.S. Federal Reserve points to longstanding barriers like housing discrimination and a lack of equal income access, but some business leaders are trying to change that.
Recently, Channel 2’s Dave Huddleston was in DeKalb County at the new Black Wall Street in Stonecrest recently, where he was reviewing a program that helps small businesses grow.
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On Saturday, there was a forum where people learned best practices on how to grow their businesses and generational wealth.
“Access to capital. The insurance industry right now is really crazy,” said Kevin Pratt.
Pratt and his wife, Moira, launched a video recording and streaming service in 2020. They said it can be difficult to know the ins and outs of running a successful business.
“There are a lot of black businesses, especially here in Georgia, they just need to figure out where the connections are,” Pratt said.
“We have been privileged and blessed, let’s go out there and champion and use this wealth of knowledge and influence from their business leaders and bring them all over the state of Georgia,” Bruce Levell said.
Levell is the owner of Dunwoody Diamonds and a former adviser to former President Donald Trump. Levell hosted a forum for small businesses on how to apply for credit, loans and build financial wealth.
“When financial crashes or pandemics hit, other cultures have been blessed with three or four generations, they have a greater chance of sustainability,” Levell said.
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The US Federal Reserve said black and brown households account for only 15-20% of the net worth of white families. Levell said owning a home and owning a business are good ways to reduce income disparity and that sharing best practices can grow your business, especially for people like the Pratts.
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