Black-Owned Businesses Must Integrate Digital Technology to Thrive in the 21st Century!

Bill HustonAlternative Finance, Community Capital, Crowd Investing


Successful businesses must constantly innovate and reinvent themselves to thrive in the new economy. Today, many companies use mobile-friendly websites, social media, and apps to optimize digital visibility and boost brand awareness. Savvy businesses are also using innovations like data analytics and tracking software to gain insights that help to increase their market shares. These innovative new technologies are a must to compete, but gaining access to these technologies can be a real challenge for Black-owned businesses that are already capital starved. It is not just staying with the times that make businesses successful, but finding innovative uses for technology and data makes businesses thrive in this internet-driven economy. 

Embrace e-commerce

The American Dream Marketplace (ADM) allows Black-owned businesses to update their web presence and create a webstore to retail and meet the modern technology-driven customer online. Many companies were thinking about building a digital retail presence through Amazon or Shopify. Then the COVID-19 pandemic struck negatively, impacting Black-owned businesses disproportionately, and an online presence was no longer an option, but it became necessary to survive. Many cash-starved Black businesses were not in a position to make the transition to a digital-first business model, so the National Black Chamber of Commerce partnered with TagFi to provide access to state-of-the-art eCommerce technology at an affordable price point.  

Upgrade Your Digital Business Skills

The technology gap Black business owners can face includes access to equipment and digital services and training on how to use the software. Black businesses are having to level up on how to use Instagram, how to use Twitter, how to use paid advertising when everybody has gone virtual,” If you’re unfamiliar with these topics or want to improve your skills, The American Dream Marketplace provides support in the form of webinars, mentorship, and B2B training opportunities that are available online. The ADM has sponsored webinars that cover topics like blogging, search engine optimization, optimizing video pitches, blockchain technology, using e-commerce, and much more…

Access Online Grant Funding 

As Black businesses and founders make the transition to an online-first business model, the lack of access to capital is still a massive impediment to the success of Black-owned businesses and founders. The American Dream Marketplace has created a single Black business ecosystem where individuals, corporations, foundations, can provide grants and sponsorship opportunities. This is vital because many of the entities have difficulty locating Black businesses to distribute grant and sponsorship dollars. The American Dream Marketplace has demonstrated the ability to fill this essential niche for corporations and Black companies through their work with Dell and Famous Amos. They have a grants channel on the platform that is constantly updated and searching for grant opportunities. The ADM has provided over a million dollars in grant and sponsorship opportunities for Black businesses.

Investment Crowdfunding 

According to data from Crowdfund Capital Advisors and multiple investment crowdfunding platforms, crowdfunding has a democratizing impact on providing access to capital for both women and Black founders. The ADM has collaborated with Crowd-Max to offer free Crowdfunding for the Culture introduction to crowdfunding group and the “CrowdFit” crowdfunding incubator. The ADM is also working in collaboration with Black crowdfunding professionals to create a Black crowdfunding ecosystem that can address the culturally specific needs of Black founders in using crowdfunding to access business capital. The racial wealth gap is an immense barrier for Black businesses, and it is being addressed head-on by both The 10K Project and Fund Black Founders. Elizabeth  Carter ESQ and her law firm are also working to provide high-quality legal representation for Black businesses raising capital.    

Key Takeaways 

The American Dream Marketplace is an all-in-one digital economy in a box for Black businesses. It provides state-of-the-art Silicon Valley software. The American Dream Marketplace is powered by TagFi technology, enabling Black-owned firms and entrepreneurs to transform their business to a digital-first model. Black business owners can access business software through the ADM to instantly get their business online and earn new recurring revenue. It empowers entrepreneurs, group leaders, and corporate partners to thrive under one umbrella. The American Dream Marketplace leverages technology to address the educational, networking, and access to capital inequalities that have been a consistent barrier to the success of Black-owned businesses. We create an exclusive space for Black-business communities to learn new skills and build strong networks. We combine effective & engaging functionality tailored to the exact needs of a particular target audience. If you want to create your profile today, visit the American Dream Marketplace!