In a recent government meeting, representatives from Wealth Through Entrepreneurship presented their progress and future plans for supporting Black and Brown businesses in Chatham County. The organization, established in 2021, aims to address the racial wealth gap by providing resources and mentorship to minority entrepreneurs.

The presentation highlighted the findings from a minority business assessment report, which revealed significant disparities in income and access to entrepreneurial support for minority communities in the county. The report emphasized a lack of trust among Black and Latino entrepreneurs towards existing small business service providers, prompting the establishment of the BIPOC Business Hub to create a more inclusive entrepreneurial ecosystem.

Over the past year, the organization has successfully formed partnerships with 18 small business service providers, exceeding their initial goal of four. They reported that 50% of their enrolled entrepreneurs progressed from ideation to launching their products and services, while 23% formalized their businesses by obtaining necessary licenses and registrations.

Looking ahead, the organization plans to continue its focus on community engagement by meeting entrepreneurs where they are, including outreach through local churches and community centers. They aim to establish a Chatham County Innovation Lab to foster collaboration and innovation among minority entrepreneurs.

Key recommendations from the assessment include leveraging government procurement opportunities to enhance access for minority businesses and developing a multichannel communications strategy to improve outreach. The organization also seeks to create shared commercial spaces for entrepreneurs to reduce overhead costs and facilitate growth.

The meeting underscored the importance of sustained government investment in these initiatives, with officials acknowledging the historical lack of support for BIPOC communities in economic development efforts. The representatives expressed optimism about the future, emphasizing the need for continued collaboration and resource sharing to build a more equitable economic landscape in Chatham County.