BLACK AND BROWN OPPORTUNITIES FOR PROFIT CENTER
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The BBOP Center is an economic hub where engines are fueled, ideas are born, and plans are put into action. The BBOP Center is a huge step in changing the financial trajectory for women of color by creating an economy that works for them.
The BBOP Center is a project of Time for Change Foundation. The Black and Brown Opportunities for Profit Center eliminates racial and gender systemic inequity by providing a protected environment where women entrepreneurs have access to what’s needed to BUILD, GROW, and SCALE profitable businesses.
The Black and Brown Opportunities for Profit (BBOP) Center in San Bernardino, California, is a state-of-the-art economic hub that provides resources and support for women of color to become entrepreneurs and develop their businesses, with the goal of achieving financial stability.
According to Black Womenomics Equalizing Entrepreneurship (Goldman Sachs), black women are underrepresented in business ownership, have less access to capital, and black women make up roughly 6% of the US population but own just 2% of employer businesses.
According to the State of Women in the IE report (UC Riverside), Black women in the Inland Empire are at a 24% poverty rate and Hispanic women are at a 22% poverty rate.
Women in the Inland Empire earn just 68 cents for every dollar earned by men in the region, and women of color—especially Black women—are four times more likely to be living in poverty today
The imbalance is particularly stark for single Black women, just 0.5% of whom own a business—a rate that is 24 times lower than for single white men.
Across all industries, a larger share of Black-owned businesses have inadequate initial capital. Black women’s wealth is not only held down by a lower access to high-return assets, but also by a higher exposure to high-cost liabilities.
Public and private investment opportunities will help close the entrepreneurship gap providing that they focus on intentional structural adjustments to reduce systemic barriers.
The State of Entrepreneurship Report (Cal State SB) indicated that there are less than 17% of minority owned businesses and the number is more dismal for women. African Americans make up only 1% while Hispanics make up 16%. The disparity for women-owned businesses compared to men still exists largely nationwide. These indicators emphasize the critical need for access to capital for women of color, increased cash flow, the ability to hire needed employees, and growing the business.
Entrepreneurs expressed when they needed to talk about their business challenges with someone else, overwhelmingly they preferred it to be a peer entrepreneur (someone who would understand what they were going through). While they desire to grow their businesses they are constrained by a lack of easily accessible capital and often are not sure of the best way to approach growth and expansion.
TOGETHER WE can DO This! We are here to provide open resources, support, and educational development with the goal of achieving financial stability and building generational wealth in the Inland Empire for years to come! Visit us Today!
