Asset Funders Network introduces the Equity Amplifier for Economic Security (EA), a new monthly spotlight series highlighting organizations or nonprofits focused on building economic security/asset building in communities of color.
REMIX IDEAS and Advancing Black Entrepreneurship (ABE), under the leadership of CEO Benito Lubazibwa, are committed to interrupting cycles of intergenerational poverty and disrupting inequitable systems to create pathways for intergenerational wealth. These companies are 100 percent Black-led organizations serving people of color; their focus is on Black entrepreneurship.Remix and ABE have been working to advance racial equity and to increase economic opportunity for communities of color in Arkansas. They provide Black entrepreneurs with the know-how necessary to start a business that will be viable, sustainable, and profitable. In fact, they make available the tools they need to access economic opportunity and mobility. They seek 1. to build supportive ecosystem for Black-owned businesses; 2. to democratize access to capital, market, and business knowledge; 3. and to provide mentorship and financial literacy programs. Thus, creating more jobs and intergenerational wealth and knowledge.
Watch the interview with ReMix & ABE:
Q&A with ReMix Ideas & ABE
Please provide the name of the organizations.
Remix Ideas and Advancing Black Entrepreneurship.
Where are you headquartered?
What is your organization’s mission or vision?
Our Black Ownership Movement is designed to interrupt cycles of intergenerational poverty and disrupt inequitable systems to create pathways for intergenerational wealth.
Does your organization identify as minority led?
We are a 100% led Black organization and our main focus is Black entrepreneurship.
Provide an example of a program or initiative that your organization is spearheading that works to advance economic opportunity and prosperity for communities of color.
Our ReMix Ideas Business Academy (RIBA), which is a 12-week, custom-designed program that teaches entrepreneurs the skills required to create and run a successful business.
How does your work impact communities and populations that are historically marginalized, underserved and/or under-resourced?
Through ABE, we are working to empowers Black entrepreneurs to start, grow, and scale their businesses. We focus our efforts in three areas: 1. Building a supportive ecosystem for Black-owned businesses; 2. Democratizing access to capital, market and entrepreneurial skills/ training; 3. Providing mentorship and ongoing financial literacy.
What are some specific barriers or biases from within philanthropy that you believe are hindering organizations led by persons of color in accessing adequate funding or support?
Racial bias is unfortunately a part of the DNA of this country. One way that philanthropic organizations can do their part to help support minority led organizations is to lean into trust-based philanthropy and provide unrestricted capital so that nonprofits can actually use the funding in the way that best serves their community.
Name one thing funders need to be cognizant of when connecting or partnering with nonprofits or organizations focused on building economic security/asset building in communities of color.
Be more than just grantmakers — be change makers. Meaning that the relationship between funders and NPOs shouldn’t just be capital based. Nonprofits can also benefit greatly from the knowledge, thought leadership, and networks that philanthropic organizations can offer.
About the Equity Amplifier
The EA serves as a space where philanthropy can engage with communities of color and examine how funders are addressing concerns in a manner that is intersectional and inclusive. Each month, AFN members will have the opportunity to access organizations and nonprofits in communities of color that are focused on economic security and asset building, including an informational brochure and a brief interactive virtual video presentation.
As a benefit of AFN membership, funders may nominate local nonprofits focused on building economic security/asset building in communities of color to highlight as part of the EA series. AFN members will also receive the opportunity to participate in a brief interactive virtual video presentation that will be shared with national AFN membership, allowing your organization to showcase innovative models and best practices to help build a more secure future for diverse communities.