What is Together We Thrive?
Overview
Covid-19 dealt a heavy blow to Black-owned businesses: it was estimated that less than half would survive the crisis. In the wake of the Black Lives Matter movement, multiple banks and foundations announced loans or grant funding explicitly focused on supporting and resourcing Black-owned businesses. This targeted support for Black-owned businesses was much overdue.
However, access to capital was not enough. To set up Black businesses for survival and long-term success, we also needed to provide technical assistance tailored to the needs of Black business owners and would-be entrepreneurs, connections to small business networks, and re-imagined neighborhood infrastructure that emphasized cooperation and collaboration.
The Together We Thrive: Black Business Network was a coalition that provided Access to Capital, Networks, and Technical Assistance to support the Survival, Success & Sustainability of Black-owned businesses. Unlike other loan or grant programs, this initiative provided wraparound services designed by and for Black-owned businesses while also strengthening the entire Black business ecosystem to promote self-determination, generational wealth, and equitable neighborhoods.
The Coalition’s broad network teamed up with culturally relevant technical assistance partners who could supply instructors, mentors, and peer advisors that understood and reflected the challenges, opportunities, and pride of being Black-owned. Read more about the Initiative and its partners below.
Mission
The Together We Thrive initiative’s mission was intended to align, activate, and increase the capacity of existing systems to meet the needs of Black-owned businesses in New York City.
We believed in economic mobility for low-income New Yorkers and that all New Yorkers had a part to play in creating sustainable change so that all individuals could be self-sufficient.
Goals
The Initiative acknowledged that anti-Black racism had impacted all Black people and had hindered Black business owners. The initiative centered the Black business experience, challenged systems designed to deter their success, while celebrating and building on the ingenuity and creativity of Black business owners in New York City and the country.
With the pandemic dramatically reshaping social and economic activity in New York City and across the nation, there was an urgent need to support Black business owners and their networks.
Together We Thrive aimed to achieve three goals:
Technical Assistance:
Supported the ongoing work and longevity of business owners through culturally competent one-to-one mentorship, networking, and project support.
Financial Resources:
Addressed and reshaped current and historic racist lending practices, ensuring accessible and equitable access to capital.
Community Support:
Expanded, supported, and reinforced a network of business owners through relevant programming and business development opportunities at the neighborhood and citywide scale.
BOA ME NA ME
MMOA WO
“Help me and let me help you”
The Together We Thrive logo is inspired by an Adinkra symbol, traditionally used by the Akan people of Ghana, that represents collaboration and interdependence towards a greater good. The concept of BOA ME NA ME MMOA WO is central to our vision for a successful network of Black entrepreneurs that thrive together.
An Initiative of:
Our Partners:
