Those words were spoken by JPMorgan Chase Managing Director Brigitte Killings when she was asked about the advancement of Black women entrepreneurs during the Wealth & Power experience at the 2022 ESSENCE Festival of Culture.
And she is right. There is no better time than now to invest in Black women business owners. At this panel discussion, she was interviewed by ESSENCE News & Politics Editor Melissa Noel alongside Fearless Fund Co-Founder Arian Simone. Together these women spoke passionately about the work being done to support Black women.
Arian noted that, “Black women are the most founded, but least funded business owners, receiving only 0.0006% venture capital funds in the tech space.”
Brigette expanded on this issue, noting that “we have to make sure that we’re not only supporting women entrepreneurs, that as corporate entities, we are helping to sponsor and fund these organizations.” She adds that we can all have that dream and put everything else in place, but it’s the capital that’s needed for you to be successful and to build a legacy.
Brigette expanded on this by sharing that there are many corporate resources that are to help business owners grow. As an example, JPMorgan Chase made a $30 billion, five-year racial equity commitment in 2020 to help close the racial gap in Black and Brown communities, which includes a commitment to increasing resources for small business owners through increased lending and mentorship, among other resources.
For more of this incredible conversation, watch the full video right here.