Entrepreneurs Talk Obstacles, What Black Businesses Need To Level Up

NORTHAMPTON, MA / ACCESSWIRE / August 30, 2023 / The PNC Financial Services Group

Foto: Accesswire

PNC | Insights

Rising Howard University senior Miah Powell isn't just studying business in a classroom, she's building one in real time alongside her studies. In fact, her vision and model for luxury streetwear brand HBCU Famous clinched a $5,000 prize in a pitch competition during Howard University and PNC National Center for Entrepreneurship launch events in the spring of 2023.

"I started my business the semester before I came to Howard, and I had no idea that I had no idea," says Powell. "The resources I have access to here have given me a huge boost - I've participated in pop-ups, I've been on panels, and I won $5,000 that I put directly back into my business. Now I have the capital to scale up as I've been longing to do, increase production and put money into social media and marketing resources. The message is clear that I need to move forward with this."

Equipping Black entrepreneurs with the tools they need to move forward and succeed is the fundamental idea behind the Howard University and PNC National Center for Entrepreneurship, which recently marked its official launch with four regional events.

The four pop-up events - featuring booths across campuses at Howard, Clark Atlanta, Texas Southern, and Morgan State universities - gave young entrepreneurs an opportunity to share information and sell products and services ranging from skin care to food, clothing, health care and publications.

Helping Black Entrepreneurs Level Up

The four campus events represented a milestone for the center, a vision that began between Howard University and PNC in August 2021, when the PNC Foundation committed to a $16.8 million, five-year grant to create the center.

With Howard serving as the umbrella, the regional centers will pilot best practices to support entrepreneurs with education and resources, then share them across their network of strategic partners throughout the country. The goal is to take what historically Black colleges and universities (HBCUs) already do so well to the next level - engage students, business owners and communities of color to help entrepreneurs grow their enterprises.

"When we thought about making an investment like this, it was a pretty simple matter to think about Howard as the hub," says Richard Bynum, chief corporate responsibility officer for PNC. "HBCUs are the absolute preeminent network to make sure that our vision of creating a real impact for Black entrepreneurs comes to life."

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