AEO Launches Black Retail Study Report at 2024 CBCF Legislative Conference
Washington, D.C. – Thursday September 12, 2024, the Association for Enterprise Opportunity (AEO) proudly hosted its AEO Talks luncheon to unveil its Black Retail Study Report: Assessing Challenges and Opportunities for Minority Business Retail Growth and announced the forthcoming launch of the innovative Retail Advantage Program. The event, held during the Congressional Black Caucus Foundation’s Annual Legislative Conference, brought together policymakers, entrepreneurs, and thought leaders to address the challenges and opportunities facing Black retail entrepreneurs in today’s economy.
The Black Retail Study Report provides a comprehensive look at the unique barriers Black retail entrepreneurs face, including limited access to capital, mentorship, and retail networks. The report is the first of its kind to specifically focus on these challenges and offers actionable solutions to level the playing field.
In conjunction with the report, AEO announced the launch of its Retail Advantage Program, a new initiative designed to empower Black retail entrepreneurs with the resources, tools, and support needed to succeed in the competitive retail industry. The program will offer mentorship, tailored business resources, and access to training programs that provide participants with the skills necessary to grow their businesses and thrive.
The luncheon featured an esteemed panel of speakers and experts, including:
- Eric Morrissette, Interim Under Secretary, MBDA
- Rep. Al Green, Texas 9th District
- Kendall Corley, Deputy Chief of Staff, U.S. Small Business Administration
- Lisa Price, Founder, Carol’s Daughter
- Kim Roxie, Founder, Lamik Beauty
- Aisha Glover, Global Head of Urban Innovation, Audible
- Jetheda Hernandez, Senior Director, National Minority Supplier Development Council (NMSDC)
These leaders offered critical insights into the ways in which public policy, corporate partnerships, and innovative programs like AEO’s Retail Advantage can help uplift and support Black-owned retail businesses. The launch of the Black Retail Study Report and the Retail Advantage Program represents a critical step forward in AEO’s mission to provide access, opportunity, and growth for underserved business owners. These initiatives directly align with. AEO’s vision of creating an inclusive entrepreneurial ecosystem where all entrepreneurs have the resources needed to thrive.
AEO’s Retail Advantage Program is set to begin accepting applications for its first cohort in the coming month, with the goal of empowering hundreds of Black retail entrepreneurs nationwide in partnership with their coalition of leading national black business associations.
Quotes from Featured Speakers
- Natalie Madeira Cofield, President and CEO of AEO, emphasized the importance of this initiative during her opening remarks: “The Black Retail Study Report highlights the systemic barriers faced by Black retail entrepreneurs and the urgent need for intentional solutions. Through the Retail Advantage Program, we are bridging the gap by providing Black business owners with the resources, training, and connections they need to succeed. This is about driving meaningful change and creating opportunities for economic equity in retail.”
- Lisa Price, founder of Carol’s Daughter, shared her journey of launching one of the first Black-owned beauty brands to achieve mainstream success, offering inspiration and practical advice for Black retail entrepreneurs. “In this day and age of the internet and selling live on Tik Tok, retail is not just about the products you sell. It is about your storytelling, your branding, your message and how you will engage the consumer to make them loyal to you. Programs like Retail Advantage give entrepreneurs the tools they need to take their businesses to the next level”
- Kim Roxie, founder of Lamik Beauty, a pioneering clean beauty brand for women of color, shared her thoughts on the importance of empowering Black retail entrepreneurs: “As a Black female entrepreneur in the beauty industry, I’ve faced challenges that many others have faced—access to capital, mentorship, and navigating an industry that wasn’t built with us in mind. The Retail Advantage Program is a game-changer. It’s about more than just helping businesses survive; it’s about helping us thrive, grow, and take up space in a meaningful way. This initiative is exactly what’s needed to ensure that Black entrepreneurs can compete and succeed at the highest levels.” Retail Advantage Program is a game-changer. It’s about more than just helping businesses survive; it’s about helping us thrive, grow, and take up space in a meaningful way. This initiative is exactly what’s needed to ensure that Black entrepreneurs can compete and succeed at the highest levels.”