Sol Co is the all-encompassing resource hub for the Black community.
We understand that everything Black is Sol, and that's why it is our mission to connect all aspects of the Sol.
Welcome to the world of Sol Co - the ultimate solution to empowering and uplifting Black-owned businesses!
At SOL CO, we understand the importance of having access to accurate and reliable information and resources to grow your business. That's why we do the tedious research for you!
We provide our members with unparalleled access to a wide range of resources, workshops, and consultations to expand, enhance, and enlighten their businesses. By making a small monthly contribution, Black-owned businesses and supporters can take advantage of our comprehensive resource hub and become a part of a thriving Black-owned universe and economy.
We are not just a resource hub, we are THE plug - your one-stop-shop for all things Black business! We are committed to providing a dynamic and engaging platform where like-minded individuals can connect, collaborate, and succeed together.
Join the SOL CO community today and become a part of the movement to empower and uplift Black-owned businesses!
“I didn’t want to speak for Black people and I wanted to speak to, and to be among them… it’s us.”
Real Talk
Venturing into the world of Black entrepreneurship can be both daunting and daring. The systemic financial barriers that threaten the livelihood and sustainability of Black-owned businesses in our society cannot be ignored. Despite there being over two million Black-owned businesses in the United States, only a fraction survives. Shockingly, eight out of ten Black-owned businesses fail within the first 18 months of establishment, with the primary cause being a lack of access to capital, resources, and services.
The leading factor for failure being lack of access to capital, proficiency, and services.
The 2018 Small Business Association (SBA) report revealed that businesses owned by minorities experience higher interest rates, stringent application requirements, and higher loan denials. Even with worthy personal credit, only 1% of Black-owned businesses can secure a business loan. These patterns are a direct result of the biases that continue to weigh heavily on the Black community. When policies are rooted in a racist legacy, they are more likely to have a racist or discriminatory impact.
As an alternative to receiving assistance from financial institutions, it is typically suggested that new business owners ask their friends and family to contribute. However, Black families surveyed admitted they couldn’t think of anyone who had available funds to loan them $3000. Only 15% of Black-owned businesses reported receiving donations from friends and families to assist with their business endeavors.
We have the Solution
At SOL CO, we understand the obstacles that Black entrepreneurs face and are committed to providing comprehensive resources and solutions to support Black-owned businesses. We recognize that the success of Black-owned businesses is critical to the success of the Black community, and we are determined to create a community of like-minded individuals who are dedicated to supporting Black-owned businesses. By collaborating with us, you have the opportunity to be a part of a groundbreaking movement that empowers and uplifts the Black community and contributes to building a more equitable and inclusive society.
You are brave for going against the grain and creating your own freedom.
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