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Starting your own beauty brand is never easybut for Black founders, its especially difficult.
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Given the existing wealth gap, though, depending on loved ones isnt always feasible.
Black founders disproportionately have less internet capital to call upon.
Yet some initiatives that were specifically developed for this cohort are currently under attack.
Joseph V. Labolito
On their behalf, we will turn the pain into purpose and fight with all our might.
Each of these options has its share of pros and cons.
As in, not enough to carve significant market share for an upstart company.
And then we have grants.
This makes grants ideal for many Black founders.
The Black experience in business is unique.
Rafael Clemente
It should be noted that grants arent necessarily an easy way to get funding.
For instance, the app process can be extremely time-consuming.
If you need the capital, its worth it, says Aishetu Fatima Dozie, founder ofBossy Cosmetics.
The more you do them, the better you get at putting the applications together.
Save the information as you go so that you dont have to re-create the data each time you apply.
The pros of this approach include less dilution over time, says Ciara Imani May, founder ofRebundle.
Carole Judge
But a con is not having enough capital to really see growth.
Its a difficult balance that many of us are still figuring out.
And you may not get the grant money all at once.
Theyre basically ensuring were educated on how to properly use the money, which is helpful for business owners.
But the busy work [can be] very time-consuming.
You take so many losses in business, so you have to really enjoy the wins.
Courtesy KIN Apparel
This grant gave me the oxygen that I need to keep going, she recalls.
I needed the money at exactly that time, so there was a big sense of relief too.
Kane shares a similar sentiment.
Since launching KIN Apparel in 2020, she has won five non-dilutive grants totalling around $225,000.
I felt blessed, relieved, reassured, excited, and motivated, she says.
It meant that I could buy inventory, pour cash into branding and marketing, and stop taking pre-orders.
It meant I could build my business without worrying about fundingit was a release of stress.
It meant we are on the right track with Ourside, and that what we are building matters.
Now, some grants are in the hot seat, with programs like the Fearless Fund currently under attack.
They have also called on Congress to pass a Fearless Freedom Economic Civil Rights Act to further provide protection.
This coordinated campaign is rippling across universities and corporationsand the impact is hitting Black entrepreneurs hardest.
In fact, many Black-owned brands offer products that can be used by nearly anyone, regardless of race.
But that 11th Circuit Court ruling will undoubtedly have a ripple effect that negatively impacts Black-owned businesses.
Leaders of color, and Black ones especially, already receive less funding to begin with, she says.
[These brands] are experiencing a recession within a recession, Young says in her video.
