c us t om co n t en t au g u s t 3, 2020 BLACK BUSINESS MATTERS f r o m a w a r e n e s s t o a c t i o n

Letter from the Publisher

os Angeles boasts a blend of cultures and is a perfect example of how people from different backgrounds come together to make our various industries and communities thrive. We also have much to be proud of in terms of our region’s standard-setting leadership role when it comes to diversification programs as well as key leadership roles held by Black professionals. L It’s no coincidence that recent research from Glassdoor revealed that about 70% of job seekers have said that a diverse workforce is an important factor to them when considering companies, job offers and where they want to work.

In other words, most people (regardless of ethnic background) want to work for a company that is diverse. After all, it’s also a known fact, based on mounting research, that a diverse group of people on the same team can help others look at problems more carefully while also being more innovative, creative and inclusive about their solutions.

Despite these factors, we as a collective society still have a ways to go. We can and need to be better. Recent discussions put a spotlight on a number of social issues that still need to be addressed as a Community of Business™.

In this special section, and with an eye toward expanding awareness and action, we take a proactive look at what some of the region’s foremost thought leaders have to say about the obstacles and triumphs of black business matters today. With education and open dialogue surely playing a more important role than ever, we hope you find this content informative and insightful.

Best regards,

Josh Schimmels Publisher & CEO Please join us live next month for Part II of this series - Black Business Matters: Women Leaders. September 9, 2020 @ 2:00pm.

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he Los Angeles Business Journal in partnership with the Greater Los Angeles African American Chamber of Commerce, was proud to recently host a free T webinar event entitled Black Business Matters: Awareness to Action. The event took place on July 29th and featured impactful and insightful feedback and discussion from a panel of genuine local thought leaders discussing ways to foster a more socially-conscious community of business. Topics included deep dives into issues such as challenges black-owned businesses face accessing capital, diversity and inclusion in the workplace, and the importance of creating an ecosystem of mentorship for young underserved communities. Many thanks to our sponsors and the esteemed panel who helped make the event possible and poignant. Byron Allen Founder/Chairman/CEO /Allen Media Group

“The biggest problem facing African American Dommond Lonnie entrepreneurs today is lack of access to capital Partner and capital that is not predatory. For there to Dykema be meaningful change, we need to hold people accountable at the top level.” “A commitment from upper management is critical Derrick Coleman to addressing diversity and inclusion inequities in Managing Director – LA Practice Leader the work place and social injustice generally. It is Creative Financial Staffing(an affiliate of Green Hasson Janks) leadership’s responsibility to formulate a written plan that clearly expresses the goals that can be used for accountability when measuring progress.” “Our true strength lies in our differences, not our similarities. Diversity is the art of thinking independently, together. Diverse teams perform Karen Slade Vice President / General Manager better, innovate more, and improve economic KJLH Radio FM equality. Both diversity and inclusion increase the richness of ideas, problem-solving ability, innovation, and respect for others.” “Including Black-owned and operated businesses in your business model helps these businesses grow, Gene Hale stabilize, and thrive while also stimulating the Chairman Greater Los Angeles African American Chamber of Commerce surrounding communities where these businesses hire and serve to thrive as well.”

“As Black businesses learn to pivot as a result of the pandemic, it is imperative that they have the online George Swain presence and access to capital to reach potential Founder & CEO clients. Supporting local African American businesses George Swain Investments will help stimulate those communities and invigorate job growth.” “We still have a long way to go in terms of closing Robert Lewis the access to capital gap. We need to discuss how President & Board Chair to close that gap, because it is a systemic issue that Black Cooperative Investment Fund requires a systemic response – from legislators, government, businesses, lenders, everyone.”

“Economic empowerment must become the Black community’s social change platform for the 21st Century. Financial investment in Black businesses and property ownership through efforts such as BCIF are essential if we are ever to move the needle toward To view highlights from the webinar, visit true equity in America.” labusinessjournal.com/BlackBusinessMatters

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BLACK BUSINESS MATTERS How the Black Cooperative Investment Fund Makes a Meaningful Impact

By MELANIE MACK three times more likely than whites to have profits negatively impacted by access to capital. he Black Cooperative Investment Fund BCIF partners with Pacific Coast Regional is a 501(c)3, community-based organi- (PCR) to provide wraparound services to those T zation that provides microloans to Black business owners needing technical assistance, Americans through pooled dollars and raises coaching, and other auxiliary services in order awareness about the importance of economic to become more attractive to lenders. BCIF empowerment, equity, and wealth building for and PCR also have a matching loan agreement the Black American community, with a specific to leverage funds for Black-owned businesses. focus on communities in the Southern Califor- BCIF hosts a Salon Series to raise capital nia Region. and awareness. Our salon series features Black Launched in 2017, BCIF works with all American entrepreneurs from a diverse pool of individuals, foundations, and corporations business sectors serving to amplify the mission interested in raising capital, through pooled of BCIF. The BCIF Salon Series is a time to dollars, in an urgent effort to stimulate and connect with extraordinarily successful busi- activate Black American owned businesses ness owners, meet and fellowship with people within Southern California. from the community, and, most importantly, Robert Lewis, BCIF’s President and Board raise money to recycle funds back into the Chair, spearheads this action-oriented effort community. along with an active board of directors, to cre- Several members/donors host private fund- ate long-lasting, tangible change not charity. raisers in their homes to raise money through BCIF recognizes the importance of eco- for existing businesses, provide needed capital only nonprofit organization of its kind in Cal- their network of friends and family. These nomic empowerment for the Black American to sustain and scale their business, create jobs, ifornia, one that is focused on providing direct efforts directly benefit applicants to BCIF. community. The board, donors, and commu- and build financial assets financial support to Black-owned businesses. Our annual goal is to raise $500,000. At full nity of supporters believe economic power is BCIF provides microloans ranging between Given many of these businesses are routinely scale, BCIF can provide 24 to 36 microloans the primary path toward financial freedom, $5,000 to $20,000. The number of loans denied access to capital, BCIF is often the last annually. ownership, and footing within the business deployed is in direct proportion to the support hope that Black business owners have to access We invite you to consider making a dona- landscape. BCIF receives from the community at large. capital. tion today to be a part of substantive change, The success of BCIF is solely dependent In these unprecedented times, many people Despite entrepreneurship among Black not merely charity. upon like-minded people investing their are looking for tangible channels to support American people increasing, Black Ameri- dollars to build up our communities, make those who are most underresourced, Black can-owned businesses receive disproportion- Melanie Mack is Vice Chair of the BCIF. For entrepreneurial dreams become realities, and, Americans. To our knowledge, BCIF is the ately low funding. Black Americans are almost more information, visit bcifund.org.

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BLACK BUSINESS MATTERS Health Equity Matters

By JEFFREY E. HALL color that have gripped our nation over the and to what extent physical activity is possible PHD., MA. MSPH, CPH past few weeks. And we must intensify our and for whom. Considering such other influ- attempts to render disproportionate impacts on ences and relationships helps us appreciate the any of us, who care deeply about health communities of color, such as those linked to wider set of social factors requiring attention to equity, are struggling to re-attain our COVID-19, non-existent. change critical health domains such as physical M“balance.” We continue to reel, as the This release of the Health Equity Matters activity. acute, formidable challenges of the Coronavi- Newsletter supplies information and resources As a last note, the need for strong health rus Disease 2019 (COVID-19) demand con- to support extension of our diverse, shared equity champions is greater than ever. Dr. siderable new attention and resources, and as efforts to advance health equity during and Judith “Judy” Monroe is a wonderful example chronic, pervasive problems linked to inequali- after the era of COVID-19. As a first example, of what being a health equity champion can ty, injustice, and violence require unprecedent- the content on “COVID-19 in Racial and Eth- entail. Dr. Monroe has been a strong, reliable ed levels of concentration and energy. Many nic Minority Groups” and on “HHS Initiatives partner who has stressed the importance of are drawing on their reserves to give COVID- to Address the Disparate Impact of COVID-19 addressing social determinants of health. She 19 its just due, while still pursuing change in on African Americans and Other Racial and championed and brokered CDC’s consider- health inequities far predating the emergence Ethnic Minorities” enable us to actively track ation of options for supporting state, tribal, of COVID-19 as a major public health threat. COVID-19 trends, to monitor differences in local, and territorial public health agencies Mightily, simultaneously grappling with a its implications for diverse populations, and to in targeting social determinants of health for pandemic, while confronting endemic socioen- examine how and what steps the U.S. Depart- years. Dr. Monroe helped clarify avenues 1) for vironmental and systemic conditions linked to ment of Health and Human Services has taken identifying, collecting, and monitoring health the “outbreaks” of discrimination and dispro- to address noted disparate impacts. This fur- equity, social determinants of health, and their portionate impacts, that have rightfully domi- thers understanding of the breadth and depth associations, and 2) for integrating competen- nated our attention as of late. of challenges towards which our energies must cies for addressing health equity via the social Though we work at distinct levels, in vari- be directed to prevent a deepening of disparity determinants of health into workforce develop- ous places, and in different settings, we all are and to prevent movement of the goal of health Jeffrey Hall ment processes. feeling the weight of both longstanding and equity further from our grasp. Who we are, what we do uniquely, and emergent health inequities. Understandably, The “Interim Guidance for Communities who we serve are now more critical than we might be tempted to surrender to anger, of Faith During COVID-19” (available at cdc. ever to bear in our eyes, minds, and hearts. frustration, or dismay, angst, fatigue, or despair. gov) enables us to promote participation in the in health indicators such as physical activi- Through focusing intently on our charge, we It may seem as if we labor on a task that will social spaces that matter most to us. Participa- ty. The content invites us to think not only can achieve a new “balance” and continuously never be complete. However, we must togeth- tion in ways that allow us to enjoy the benefits about access to amenities such as safe, qual- and successfully adapt in our dynamic envi- er, in and amongst each other, find the strength of fellowship and affiliation while minimizing ity parks, trails, and recreation centers and ronments. Our continued commitment, labor, and resolve, to carry on. For now is the time health risks, given what we know about the how physical activity differences may reflect and health equity anchored praxis, despite the where our purpose, passion, and perspective, ways COVID-19 is transmitted. Renewing differences in the overall resources of the monstrous challenges we face, are paramount. and our collective capital, capabilities, and access to institutions that are not only contexts neighborhoods where diverse populations We thank each health equity champion for reach must be more present and made more of collective worship but are also key organiza- live. It should also prompt us to consider how their every contribution towards closing health potent. Because the threat to who and all we tional partners in addressing health disparities the character of social determinants such as gaps and equalizing opportunities to be healthy. value is, perhaps, the greatest faced ever. We and in supplying social support and capital to work influence opportunities to be physically must redouble our efforts to end the kinds of uplift communities. active. For example, the number and types of Jeffrey E. Hall PhD., MA. MSPH, CPH is injustice and intolerance that systematically Content such as “Physical Inactivity is jobs typically held, the nature of employment, Deputy Director, Office of Minority Health undermine the physical, social, and emotional More Common Among Racial and Ethnic and associated working conditions may differ and Health Equity (OMHHE). He also serves health of racial and ethnic minorities and Minorities in Most States” (available at cdc. meaningfully by both race/ethnicity and area as Chief, Minority Health and Health Equity other groups, such as those demonstrated by gov) affords an opportunity to consider why of residence in the United States. Differences (MHHE) Activity Centers for Disease Control & the tragic and senseless killings of people of we continue to see racial/ethnic differences in these characteristics may determine whether Prevention (CDC).

Community Leadership: A Look at the History and Work of the GLAAACC

he Greater Los Angeles African American organizations in order to secure solutions for Chamber of Commerce (GLAAACC) was expanding business opportunities. T established in 1991 by a group of business Committed to the development of new Afri- owners and executives led by Gene Hale, Pres- can American business leaders, GLAAACC ident of G&C Equipment Corporation and the GLAAACC works to combine the resources of the African American created the GLAAACC Education Fund & late Homer Broome, former president of Marvid Foundation, a 501 (c) 3 nonprofit public benefit Associates. The vision then and now was to business community and other business organizations in order to corporation, in 1999 to provide scholarships for create an organization that would serve as an high school students seeking a degree in busi- advocate for African American-owned business secure solutions for expanding business opportunities. ness or a related field. enterprises and to promote their growth and During the holidays, GLAAACC hosts its expansion into the international arena. annual Peace & Prosperity Holiday Mixer and Beginning with a $5,000 grant from Toyota fundraises for toys to donate to various nonprofit Motor Sales, U.S.A. Inc, GLAAACC began its organizations that are designed to assist low journey. Led by Hale, Broome, the late William Angeles County Supervisor (1998); former current Los Angeles Councilman and former income families in need. GLAAACC also pro- Kennard, Sr. and other prominent business LA Governor Gray Davis (2001), Los Angeles LAPD Chief; former LAPD Chief Willie Wil- vides turkeys to parents of children located in owners, GLAAACC was able to attract the Mayor Antonio Villaraigosa (2008) and Earvin liams; Los Angeles County Supervisor Zev Yaro- Southern Los Angeles. attention and support of major corporations, “Magic” Johnson, chairman & CEO of Magic slavsky and a host of senior executives from the In addition to lobbying to city, state and including the public utility sector. Johnson Enterprises (2009). corporate community. At these events, members federal lawmakers on issues affecting business GLAAACC held its first major fundraiser, Receptions and town hall luncheons are are afforded the opportunity to meet, exchange enterprise, GLAAACC assists in providing the Greater Los Angeles African American the vehicles GLAAACC employs to create business cards, have a dialogue and develop rela- information, resources and referrals to the com- Chamber of Commerce Economic Award Din- networking opportunities for its members. Guest tionships with potential customers. munity at large. ner in 1993. Chaired by Sam Iacobellis of Rock- speakers at these events include notables such In keeping with its mission, GLAAACC has well International, the keynote speaker was as former U.S. Vice President Al Gore; the late been active in its advocacy and support of Afri- The mission of the GLAAACC is to advocate and Daniel S. Goldin, administrator of the Nation- U.S. Secretary of Commerce Ron Brown; U.S. can American business enterprise by providing a promote the economic growth and development al Aeronautics and Space Administration Congresswoman Maxine Waters; Al Fromm, variety of programs and services to assist in their of the African American business by focusing on (NASA). Since that time the annual dinner former chairman of the Democratic National growth and development. GLAAACC works legislative advocacy, as well as identifying and devel- has grown in size and stature. Notable speakers Committee; Gil Garcetti, former Los Ange- to combine the resources of the African Amer- oping business opportunities and strategic business have included Yvonne Brathwaite Burke, Los les County District Attorney; Bernard Parks, ican business community and other business alliances. Learn more at glaaacc.org.

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BLACK BUSINESS MATTERS Digital News Platform ‘The Grio’ Launches New Black Entrepreneur Series

ible pressure to survive, let alone thrive,” er Channel and content partners, which deliv- mercial content. ESMP released 2017’s high- Exclusive new video series said Natasha S. Alford, Vice President of Digital ers real-time, hyper-local news, weather, traffic, est-grossing independent movie, the shark thrill- Content & Senior Correspondent for The Grio. sports, and lifestyle information. Entertainment er 47 Meters Down, which grossed over $44.3 “Staying In Business” focuses on “With Staying In Business, we are proud to be Studios also produces, distributes, and sells million. In 2018, ESMP also released the black entrepreneurs coping with highlighting the true resilience and innovation of African-American entrepreneurs.” COVID-19 pandemic Byron Allen purchased The Grio in 2016. The Grio is a digital video-centric news yron Allen’s Allen Media Group digital community platform devoted to providing Afri- “Staying In Business is a video series about perseverance in the news division — The Grio – recently can-Americans with compelling stories and per- announced a new video series for Facebook spectives currently underrepresented in existing face of tough times. We want to shine a light on how black business BWatch. The Grio is producing and distributing national news outlets. The Grio features aggre- owners and entrepreneurs are meeting the challenge of a an exclusive video series, Staying In Busi- gated and original video content, news articles ness. The Staying In Business video series fea- and opinion pieces on topics that include coronavirus pandemic head on.” tures interviews and profiles of African-Amer- breaking news, politics, health, business and ican business owners who reveal how they are entertainment. Originally launched in 2009, the adapting to unprecedented times in America, platform was then purchased by NBC News in while focusing on how these black-owned busi- 2010. The digital platform remains focused on advertising for 64 television programs, making critically-acclaimed and commercially successful nesses and entrepreneurs are struggling to sur- curating exciting digital content and currently it one of the largest independent producers/ Western Hostiles, the historic mystery-thrill- vive during the current coronavirus pandemic. has more than 20 million annual visitors. distributors of first-run syndicated television er Chappaquiddick and the sequel to 47 Meters Staying In Business premiered April 21 — Chairman and CEO Byron Allen found- programming for broadcast television stations. Down, 47 Meters Down: Uncaged. The digital simultaneously on The Grio Facebook page ed Entertainment Studios in 1993. Headquar- With a library of over 5,000 hours of owned distribution unit of Entertainment Studios (www.facebook.com/theGrio) and on The tered in Los Angeles, it has offices in New content across multiple genres, Entertainment Motion Pictures, Freestyle Digital Media, is a Grio digital platform (www.thegrio.com). York, Chicago, Atlanta, and Raleigh. Enter- Studios provides video content to broadcast premiere multi-platform distributor with direct “Staying In Business is a video series about tainment Studios owns 15 U.S. Big-Four net- television stations, networks, partnerships across all major cable, digital and perseverance in the face of tough times,” work affiliate broadcast television stations and mobile devices, multimedia platforms, and the streaming platforms. Capitalizing on a robust said Todd Johnson, Chief Content Officer at nine 24-hour HD television networks serving internet. The mission is to provide excellent infrastructure, proven track record and a veter- The Grio. “We want to shine a light on how nearly 160 million subscribers: The Weather programming to our viewers, online users, and an sales team, Freestyle Digital Media is a true black business owners and entrepreneurs are Channel, Pets.tv, Comedy.tv, Recipe.tv, Cars. Fortune 500 advertising partners. home for independent films. meeting the challenge of a coronavirus pandem- tv, Es.tv, Mydestination.tv, and Justice Central. Entertainment Studios Motion Pictures is a ic head on.” tv. Entertainment Studios also owns the Local full-service, theatrical motion picture distribu- For more information, visit “Black-owned businesses are under incred- Now streaming service, powered by The Weath- tion company specializing in wide release com- entertainmentstudios.com or thegrio.com.

DID YOU KNOW?

If only 1 in 1,200 working Black adults in L.A. and Riverside Counties become BCIF donors, $1.2 million in financial assets can be “grown” for Southern California's Black community.

No Talk … ALL ACTION! Will you be one of the1,200? DONATE TODAY!

Black Cooperative Investment Fund is HERE! MISSION Based on the spirit of cooperative economics, BCIF is a 501(c)3, community-based organization that provides microloans to Blacks/African Americans through pooled dollars and raises awareness about the importance of economic empowerment, equity, and wealth building for the Black/African American community, with a specific focus on communities in the Southern California region.

As a BCIF Donor, you receive:

• Tax deduction • Discount on BCIF hosted events and services/products of BCIF business loan recipients (for donors giving $1K or more annually) • A biennial report updating you on how your money is working in the community

CHANGE … not charity! www.bcifund.org Need a microloan? To become a donor today or for more information, Visit the website to learn details and apply: contact: [email protected] or call 310-904-6336 www.bcifund.org

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