Early December we organized a BIPOC Holiday Marketplace to celebrate BIPOC artists and makers in NYC. This event was not only an opportunity for us to uplift and provide a much needed spotlight on BIPOC businesses but, a story about allyship and everyday people doing what they can do to close the equity gap in this country.
BIPOC businesses face many institutional obstacles that prevent them from reaching the same amount of success compared to their white counterparts. When you cant access capital your business has a much higher mountain to climb. This is sadly the case for many BIPOC businesses especially black owned.
According to data released by the Federal Reserve in 2020, the percentage of white business owners that receive at least a percentage of the funding they requested from a bank is 80.2%. In contrast, only 60.9% of Black business owners say the same, along with 69.5% for Hispanic business owners and 77.1% for Asian business owners. Less capital means less resources to scale your business, marketing, product development and more.
We all have the power to use our community and resources we have to make a difference. The marketplace happened pretty organically when Louise Strucken, owner of The Pushcart Presents offered to host my personal brand for a pop-up. It was such a small gesture, but exactly the type of support BIPOC businesses's need. A one store pop-up quickly became a full blown marketplace highlighting some amazing brands.
If you didn't make it to our event you can shop our featured vendors online: