Celebrating the Rising Stars of Small Business with Jac'Quay Martin
Studies show that capital can be hard to find, especially for women and minorities. During National Black Business Month, we want to recognize the positive impact of supporting black women. Their dedication, talent, and positivity inspire us. For small business owner Jac'Quay Martin, her inspiration comes from helping others.
|
“I’m proud of the fact that I never gave up. It’s only been two years, but I’ve accomplished so much… If it wasn’t for LiftFund, [success] wouldn’t have happened for me.”
“I always loved making women feel beautiful,” Jac'Quay said. “If you look good, you feel good, and when you feel good, you do good.”
Jac’Quay dreamed of owning a full-service hair salon. Though she had a successful corporate job and lacked entrepreneurial experience, she took a leap of faith and quit her job to open Kink’d Hair Boutique in 2016. The business provided virgin hair for wholesale and individual customers, but she was determined to make her salon dreams come true. To do that, she needed working capital. Thanks to LiftFund, she received a loan for the resources she needed to provide makeup and nail services to grow her business.
Today, Jac’Quay has expanded her salon to employ three stylists, and expects to hire two more by 2019. She has also expanded the Kink’d Hair brand to include two successful online boutiques, and hopes to eventually franchise her business so she can empower other women to believe in their business dreams.
As a black woman, Jac'Quay is part of the fastest growing segment of small business owners who are achieving their dreams. Click here to learn more about inspiring black women business owners or more about the challenges women in entrepreneurship face.
To read about more hard working entrepreneurs LiftFund has helped, click here.
|
National Black Business Month & Filling the Gaps
As we celebrate Black Business Month with over 2.5 million black-owned businesses across the nation, we also recognize the challenges they still face. A recent study by AEO showed that entrepreneurship is a key path to gaining wealth for black communities, but also recognized the Wealth Gap, the Credit Gap, and the Trust Gap as the three major barriers to small business ownership.
ProjectDiane would agree. This ongoing study shows the obstacles black women have to overcome when starting a business - like how despite their high level of education, they only receive $42,000 in funding compared to $1.1 million for an average startup. When access to capital and a lack of assets is already an issue, these statistics show we need to do more.
LiftFund aims to address these gaps. We bridge the toughest barrier first - the Trust Gap - and build a relationship with the small business owners in our communities so we can prepare them for whatever capital help they need.
Black entrepreneurs are driven and talented; we hope to be one of the solutions to help them succeed. Consider referring a friend or donating to help LiftFund support the dreams of black small business owners in the communities we serve.
|
LiftFund is a non-profit financial and business consultation organization that helps diverse entrepreneurs strengthen their businesses, stabilize and increase their incomes and assets, create employment and contribute to the economic revitalization of their communities.