...One of the more rewarding experiences for Otoo is having persons who were initially declined for loans or funding, eventually get approval after getting the necessary support through the program...

research efforts, the team extracted qualitative and quantitative evidence to give depth and context to the anecdotal evidence. This type of data is essential when advocating for resources, funding, and policy changes that significantly impact business owners from marginalized communities. Otoo expressed that access to more data-driven information will allow the organization to better meet the needs of entrepreneurs. As the program evolves, Otoo also hopes to provide tools to stimulate business creation, scaling, and expansion. “I would love to see an incubator program to foster innovation, connect participants with mentors and allow them to leverage the Black business ecosystem in ways that help with business pitches. I want to see relevant and timely services for Black entrepreneurs.”

One of the more rewarding experiences for Otoo is having persons who were initially declined for loans or funding, eventually get approval after getting the necessary support through the program with revamping and fine tuning their business plans. “Some people conflate their passion with what the market needs and their skillset. The research helps,” says Otoo. He acknowledges that for many entrepreneurs that matriculate through their system, there is a gap in technical skills and general business acumen needed for a firm foundation. The team must therefore curate intuitive programming that can identify these shortfalls and make the best connections to correct it.

Mikail Adekunle

For program participants like Mikail Adekule, the program provides more than an opportunity to learn and grow. There is empowerment in the shared experience and through accessing needed resources. “My biggest takeaway is knowing that Black business owners don’t have to go it alone. They have an organization like Africa Center with the resources and know-how to help them on their journey.” Adekunle also noted that the facilitators are seasoned professionals who understand the challenges of Black business owners and how to navigate around them. The impact of the experience extends beyond the classroom, “Thanks to the learning from the program, I have been able to help my sister develop a business plan and strategy for an idea she’s been nursing for a long time. The business is now registered, and we are looking to start operations soon,” said Adekunle.

Toba Olaniyan

Toba Olaniyan shares, “This kind of forum is important to Black business owners because it helps us to grasp the intricacies of how things are done here and to align our culture and businesses in accordance with best practice. My biggest takeaway from the event is that I need to be smart with my bookkeeping in order to maximize various benefits and take advantage of every clawback as provided by the law. “I am working on setting up a better tracking system to capture inflow and outflow real time to ease filling at the end of the year. The program was quite enlightening, I am already looking forward to the next one. Kudos to the organizers.”

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