Watch: A conversation on systemic racism in business
On Tuesday, June 22, Axios markets reporter Courtenay Brown and business reporter Hope King took a look at economic recovery among business owners of color, featuring SBA Administrator Isabel Casillas Guzman and 1863 Ventures founder Melissa Bradley.
SBA Administrator Isabel Casillas Guzman discussed recovering small businesses after the pandemic and implementing various programs to promote change.
- On the priorities of the SBA: “It is the US Small Business Administration's focus to commit, support, and assist these underserved small businesses broadly so that entrepreneurship and startup culture and small businesses from Main Street to manufacturing really can survive and thrive.”
- On how the landscape for minority small business owners has changed: “The Biden-Harris administration is committed to equity and really implementing transformational changes…We need to transform the way that we design and implement those programs so that more businesses can access them because there are historical barriers that are unacceptable if we are going to recover and rebuild.”
1863 Ventures founder Melissa Bradley discussed systemic barriers to success in the small business world and how to create new growth opportunities.
- On supporting entrepreneurs of color: “I think this idea of recognizing how to properly market to entrepreneurs of color is extremely important because they're looking for trusted intermediaries and trusted parties. And unfortunately, sometimes it's not the government or local bank.”
- On what the future of entrepreneurial success looks like: “We need to shift where we find success and look at consumer product goods. We need to look at retail. We need to look at supplier diversity change. We need to look at B2B businesses and really say that this is what success looks like in the entrepreneurial community for black and brown founders. I think if we do that, then hopefully we change the signal effect to investors of what success is and more importantly, what success [looks] like.”
Axios SVP of events and creative strategy Kristin Burkhalter hosted a View from the Top Segment with YouTube’s vice president of content partnerships Malik Ducard who discussed YouTube’s part in the creator economy and how new initiatives are promoting change.
- Ducard on how YouTube is prioritizing creators and artists of color on the platform: “We leaned in and created the YouTube Black Voices Fund, which is focused on supporting creators and artists on the platform with funding, workshops, and convening and really helping to grow not only their numbers but their success on the platform. [Also] creating original shows and content to highlight education around racial justice and the black experiences.”
Thank you YouTube for sponsoring this event.