Operation Hope and Shopify pledge $1.2M to support Black-owned businesses in Los Angeles

The Los Angeles City Council meeting on May 9, 2025, highlighted a significant partnership aimed at bolstering economic equity for local businesses. Councilmember Park welcomed John Hope Bryant, founder and CEO of Operation Hope, to discuss the organization's ongoing efforts to provide financial education and resources to underserved communities in Los Angeles.

Bryant emphasized the importance of financial literacy and support for small businesses, particularly those owned by Black entrepreneurs. He announced a new initiative in collaboration with the City Council, which includes a $1.2 million grant to assist small businesses in District 10. This funding will provide crucial training and technical assistance, helping business owners navigate financial systems and achieve economic stability.

Operation Hope, which has been active for over 33 years, aims to empower individuals through financial education, one-on-one workshops, and pathways to homeownership and entrepreneurship. The organization operates 150 offices across 32 states and has invested $4.4 billion in communities lacking access to financial resources.

The partnership with Shopify, which has committed nearly $191,000, will further enhance support for Black-owned businesses by facilitating online commerce and providing financial planning tools. This initiative is seen as a vital step toward creating a more equitable economic landscape in Los Angeles.

The meeting concluded with a commitment to establish 50 Operation Hope offices in Los Angeles over the next five years, ensuring ongoing support for local entrepreneurs and fostering a thriving business environment. This collaboration reflects the City Council's dedication to addressing economic disparities and empowering residents through accessible resources and education.