Can a ‘Guaranteed Income' for Black Entrepreneurs Narrow the Wealth Gap?

Fariel Salahuddin was determined to tackle the extreme lack of access to fresh water she encountered in rural Pakistani communities, but she wanted the model to be sustainable, not dependent on donations. Most of the communities didn't have regular access to rupees to help sustain their solar water pump micro-enterprises - what they did have, however, were goats. Salahuddin set up a scheme where villagers could pay for their clean water access with livestock instead of cash, which she then sells using Facebook at high rates during Muslim festivals to generate a sustainable revenue source.

Despite the looming competition from Amazon, independent bookstores in New York are finding ways to innovate and create bookstore experiences that go beyond the books. The Lit. Bar is a bookshop-wine bar in the Bronx that hopes to instill a love of reading while customers shop and drink. By selling non-book products, new iterations of bookstores can increase their profit margin to remain sustainable. Many even succeed with creative financing, from crowdfunding to finding local investors.

Jane Cavarozzi, an entrepreneur and activist, started Dirty Girl coffee to “support economic development and women’s advancement in the small, depressed villages around Appalachian Ohio.” She lives in the town of Glouster and is respected for living local and working local, as opposed to being an outsider problem-solver. Though her coffee company is just one small step forward, she works closely with community groups to move economic development initiatives for the region forward.

In the Navajo Nation, more than 70 percent of local income leaves the tribal area, but one effort is helping native-owned businesses expand their reach. Change Labs, a business incubator, helped birth Rez Rising, an app that helps people find and shop with native-owned businesses, which often find obstacles to entrepreneurship like listing a physical address or operating a website.

After an initial shock to business-as-usual, some independent booksellers are trying new methods to get their products in the hands of readers. Home deliveries, online sales, and fundraising efforts are keeping some longstanding institutions afloat, at least for now.

Teens selling water on the sweltering streets of Atlanta are typically dealt with by police officers who often crack down on "unpermitted sales of water by youth." In a new approach, city officials convened a council to offer alternatives to police action and suggested ways to promote and develop the entrepreneurial spirit in teens through a variety of programs. The council looked to a similar program in Baltimore that re-engaged windshield-washing teens in school and re-directed others to full-time jobs.

The New Leaf project ran a controlled trial to test the power of direct cash transfers with people experiencing homelessness. Fifty people were given a one-time cash payment of $7,500, which roughly equaled the sum of government income assistance spread out across the year. The impact was measured over 12 months and found that people in the cash group moved into stable housing faster, spent fewer days homeless, and saved more money. The organization found the lump sum, rather than monthly increments, allowed people to make decisions about how they could move their lives forward aimed at stabilization.

The Business Center for New Americans, a nonprofit that offers loans with a focus on immigrant-run businesses, is going above and beyond to make sure its lenders get through the COVID-19 economic crisis. They are offering tailored support on how to apply for Economic Injury Disaster Loans, sharing other grant and loan opportunities, and using its status part of the SBA’s Microloan Program to offer new loans.

Philanthropies are funding “tough tech” startups that are developing technologies to cut greenhouse gas emissions and mitigate the effects of climate change. Since 2014, the nonprofit Prime Coalition has channeled more than $24 million from wealthy donors and foundations to 10 ventures focused on that goal. Not all of their investments, though, have paid off. Yet, some of these initial investments could lead to widespread solutions to the world’s climate crisis.

A group of female entrepreneurs created a market for other enterprising women who can’t afford to pay standard shop and licensing fees to access a safe place to sell their wares. The group connects women to train them in entrepreneurship, provide networking opportunities and inform people about the market and upcoming events via social media to drive more customers to the marketplace.