B3K, BC Launchpad team up to support Minority-Owned Small Businesses
Collaboration aims to provide minority entrepreneurs with the strategy, tools and resources needed to help them grow sustainable businesses and build deep prosperity
BAKERSFIELD, CALIF. –B3K Prosperity and BC Launchpad are collaborating to advance a pilot program intended to help minority small business owners access the resources and supports needed to sustainably grow their companies and build generational wealth. On July 9, 2024, more than sixty individuals, including representatives from seventeen minority-owned small businesses, attended a Small Business Roundtable Discussion hosted at Bakersfield Memorial Hospital to hear directly from minority small business owners about the challenges and barriers their businesses face and to share information and resources to help overcome those challenges and barriers.
“We know that small business ownership provides an unparalleled pathway to upward mobility,” said Morgan Clayton, Executive Chairman of Tel-Tec Security Systems and a member of B3K Prosperity’s Executive Committee. “Through collaborative efforts, like the one we’re piloting, our community has the opportunity to come together to address the unique barriers faced by minority entrepreneurs and provide them with the supports and services they need to thrive and create jobs in the mainstream economy.”
Tuesday’s Roundtable Discussion included presentations from BC Launchpad, the City of Bakersfield Economic and Community Development Department, Kern Women’s Busines Center, Empowered2LEAD Consulting Services, Access Plus Capital, Valley Strong Credit Union and the Downtown Business Association.
“One of the key issues we’ve heard from participants is that timely access to information is a major roadblock affecting their ability to grow,” shared NaTesha “T” Johnson, Program Director of the BC Launchpad. “Many minority business owners are not receiving important information, especially regarding funding opportunities and access to capital, and that affects their ability to invest in growth. We’re excited to be collaborating with a broad coalition of partners to help right these wrongs and chart a path toward upward mobility for minority small business owners.”
“Since our inception, B3K has recognized the critical need to address gaps in our region’s entrepreneurship and business supports, especially as an opportunity to advance generational wealth creation among minority- and female-owned small businesses,” said Justin Salters, interim Executive Director of B3K Prosperity. “I’m incredibly appreciative of the work of Morgan Clayton to build bridges and drive this specific initiative forward, and grateful to have partners like T and the BC Launchpad, who we can work together with to address the barriers to prosperity facing entrepreneurs and small business owners from disadvantaged communities and historically excluded groups.”
Following this week’s roundtable discussion, small business participants will be introduced to service providers capable of helping address the specific challenges they identified. As the pilot program progresses, work is underway to help more businesses enter the mainstream economy and develop a sustainable funding stream to expand the program and provide more of the coaching, mentoring and technical assistance minority small business owners need to succeed.
The program builds on additional initiatives launched out of B3K, including the City of Bakersfield’s $1.5 million Entrepreneurship Grant Program and CO.STARTERS, a 10-week cohort-based incubator program led locally by the Seedcore Foundation and Kern Initiative for Talent and Entrepreneurship (KITE).
At the end of Tuesday’s roundtable discussion, the seventeen businesses in attendance were each presented with a $1,000 check, thanks to the generosity of Morgan Clayton. The gesture was met with surprise and appreciation from participants, many of whom have never received any outside investment or contributions to support their companies.
# # #
ABOUT B3K PROSPERITY
A Better Bakersfield and Boundless Kern (B3K) is the leading, region-wide inclusive economic development organization for the Bakersfield-Kern region. Our mission is to bring our region together to imagine, engineer, and build the next era of success, where all people prosper and businesses thrive. We’re committed to growing the number of Quality Jobs in our region by investing in traded sectors and improving our regional competitiveness. Learn more at www.b3kprosperity.org.
ABOUT BC LAUNCHPAD
The Bakersfield College Launchpad provides resources and educational workshops for entrepreneurs to help start and grow businesses in our community. The Launchpad is a resource guide by delivering educational opportunities and support services, and through fostering collaboration to empower you with entrepreneurial resources. We collaborate with Kern County community business leaders to determine what skills are needed to survive and compete in the current marketplace. Learn more at https://www.bakersfieldcollege.edu/community/launchpad/index.html
