The Metro Detroit Black Business Alliance is changing, but for the better. The organization has experienced steadfast growth in all areas and has now shifted to a statewide focus and will be called the Michigan Black Business Alliance.
The Michigan Black Business Alliance made its announcement during the 2nd Annual State of Black Business Luncheon on Thursday, March 14. Under the expansion, which is supported by state funding, the Alliance will bring programs that help entrepreneurs gain access to capital, build relationships with financial institutions, and improve administrative capacity, and the expansion will begin in the cities of Flint and Lansing.
“Our work to close the racial wealth gap through strengthening Black businesses is critical now more than ever,” says Charity Dean, President and CEO of Michigan Black Business Alliance. “According to the W.K. Kellogg Foundation, the state of Michigan’s economy stands to gain $92 billion if it were to eliminate those gaps. Our unique programs and bold policy advocacy have helped decision makers begin to approach small businesses as essential drivers of economic development. We’ve started that change in Detroit. We will continue the change in Detroit. Now we’re going to bring that change across the state.”
Senate Appropriations Chair Senator Sarah Anthony (D-Senate District 21) celebrated the expansion, saying, “Small businesses are the driving force behind our economy. Over the years it’s become clear to me we have been limiting our potential by failing to invest in the diverse talent and skill of Black and brown entrepreneurs and small business owners in urban communities across our state. I was proud to secure funding in the state budget to ensure this transformational expansion into Flint and my hometown of Lansing and cement the future success of the Michigan Black Business Alliance.”
The Michigan Black Business Alliance’s mission is to help close the racial wealth gap by creating programs and advocating for policies that result in thriving Black businesses. The Alliance, which supports business owners regardless of their race, represents over 1,500 small businesses. Since 2021, the Alliance has supported over 2,000 businesses, generating over $10 million in funding for those businesses. Additionally, the Alliance has funded 2,700 hours of paid internships, given a total of $395,000 to 158 business owners for investment income, and created hundreds of sustainable jobs.
In addition to announcing its expansion, the Alliance showcased its annual report and hosted panels discussing the current landscape of supporting small businesses.
To learn more about the Michigan Black Business Alliance, visit blackbizalliance.org.
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