In an unprecedented move, NAACP partners with venture-backed technology company Hello Alice to support the NAACP’s proactive mission of improving the lives of African Americans and their communities through increased economic opportunities and building generational wealth.
Today, NAACP announced their newly acquired ownership stake in Hello Alice, the largest online platform helping small businesses launch, attract, and retain more diverse customer sets. The announcement is a first for the NAACP and will provide substantial resources towards advancing the organization’s goals for economic equality for Black communities.
“To champion true racial equity, we need to address the long-standing economic inequality that has left Black communities underfunded and undervalued for centuries,” said NAACP President & CEO Derrick Johnson.
“That’s why we’ve taken the unprecedented step to join as a part-owner of Hello Alice. Our Black-owned businesses, who already faced long-ingrained institutional barriers to success, continue to recover from the devastation thrust upon them by the pandemic. Between February and April of 2020, Black business ownership declined more than 40%, which is more than any other ethnic group. This first-of-its kind partnership is a pivotal step towards putting Black business at the forefront of our economy and as a result, building generational wealth and economic power for Black communities.”
In an effort to support Black-owned businesses on a long-term basis, the NAACP first began partnering with Hello Alice to create the Black-owned Business Resource Center that includes capital and networking opportunities for Black small business owners throughout the country.
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