Black- owned businesses that blossomed in recent years

It is the 21st century and still, the life of black people is not easy in European countries. Black people have to face difficulty in every aspect of life whether it’s education, health, food, jobs, business opportunities. One of the challenges faced by black people is the limited or no access to capital to start their own businesses. Because of the biased attitude of firms, companies, and industries, there are no decent jobs for black people. In spite of all these difficulties, there are some strong and ambitious entrepreneurs who overcame the issue of lack of funding and thrived their business.

To start with World Wide Technology would justify the discussion of black-owned businesses. It is considered the largest private IT company with more than 5000 employees and a $10 billion annual revenue. The company’s innovator David L. Steward laid the foundation of the World Wide Technology in St Louis, Missouri in 1990 and he is still the chairman of the company. David L Steward grew up in poverty and faced discrimination from his school life. But now his net worth is $4 billion and his company has been ranked first among the nation’s largest black-owned businesses.

Blavity was founded in 2014 by a black woman Morgan DeBaun and since then it is making waves in the media world because of its unique technology. Owing to its rapid and excessive growth it has attracted many capital firms resulting in a $10 million investment in Blavity and more or less seven million readers.

Blavity is the largest media company and lifestyle brand for black millennials. Morgan DeBaun started with the vision of helping the black community and making enough money to influence the lives of people to make the best decisions.

Beauty Bakerie is a beauty brand owned by black woman with total funding reaching up to $7.6 million. The founder of this beauty company is black woman Cashmere who became a mother at the young age of 16. She knew that being a single black mother will be challenging for her as well as her daughter. Therefore she decided to work hard to give her daughter the best life. Beauty Bakerie is a makeup and skincare products company with products for all skin colors.

Who is unaware of the legendary personality of Oprah Winfrey. She is a famous media personality but her entrepreneurship attitude and production company Harpo Inc. made her a billionaire. It was Harpo that enabled her to get the most profit from her TV show instead to the network.

Harpo productions have its headquarter in West Hollywood California and comes under the Harpo Inc. The word Harpo is Oprah spelled backward. Harpo has now grown its subsidiaries like magazines, networks.

Sproxil is an American profitable company that helps the consumer to avoid counterfeit products. Based in Cambridge, Massachusetts Sprolix deals with a Mobile Authentication service to confirm that product is original or legal. The founder of the company Ashifi Gogo grew up in Ghana. His first interaction with technology was cell phones and at the time he turned thirty he initiated a technology company based on mobile verification.