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The engagement, which will be taking place at the White House, will feature members from the Department of Commerce, the Minority Business Development Agency, and representation from the Community Development Financial Institutions (CDFI). The Administration launched a whole-of-government effort to increase by 50% the share of federal contracts for minority-owned small businesses in 5 years.

This amount will equate to a $100 billion investment in minority owned businesses. Designer Brandon Blackwood, therapist Kier Gaines, Chef Samo Frais and IEMBE founder Travis Terry are all scheduled to speak to the event to discuss their experience of business owners as well as the importance of self-awareness and mindfulness. The White House official expounds on the Vice President’s agenda.

“Harris will definitely talk about the role of community lenders. During her time in the Senate, she got $12 billion secured for these lenders that specifically invest in minority women, rural, small businesses and communities. [Harris] makes sure they are well resourced because of their ability to really provide access to capital for businesses in underserved communities.”

The summit will highlight sources of funding available for technical assistance, mentorship and the development of business plans. In March, the Black unemployment rate hit a historic low which is a direct correlation to the diligence of the Biden/Harris administration. “Their economic plan is working...they’re creating jobs, we’ve seen near low record unemployment,” the White House official states.

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“We always feel like there’s more work to do, especially for our Black men in our community, to ensure that they have the resources and the ability to contribute to the economy. And with these businesses, we are seeing them turn challenges into opportunities.” What makes Harris so effective in this space, the source claims, is her ability to connect to those that she is working so hard to uplift.

“The Vice President—when she talks to small business owners and entrepreneurs—she really sees them. I think that’s just such an important approach to this. She always says the best way to support a small business is to support the owner.” The official adds: “Given the role that these young Black men play as pillars in their community, it’s all the more important to recognize them and their unique role in our society.”