Black business owners are more likely to seek – but less likely to receive – outside funding than white business owners, according to a survey by SCORE, mentors to America’s small businesses. To help improve this disparity in resources, Black executives can bring their valuable insights and perspectives to the table as business mentors. This National Black Business Month, SCORE encourages Black executives to consider volunteering their time and expertise to support entrepreneurs and build a more inclusive entrepreneurial ecosystem.
SCORE mentors share their time and talent to help small businesses grow and thrive.
Helping small businesses succeed
Useful, actionable advice from a mentor can go a long way in assisting an entrepreneur on their business journey. As a co-owner of My College Tours, SCORE client Olu Abney described the impact his mentor had on his business perspective. “We don’t look to just have clients, we look to build long-lasting relationships,” says Abney. “SCORE was essential in helping us realize this.”
SCORE relies on the expertise and knowledge of experienced business professionals – including Black executives – to support aspiring entrepreneurs and contribute to economic growth and diversity. “Just look at the number of businesses started by people of color, and especially women of color. There is a movement that your talent can be poured back into,” says SCORE North Metro Atlanta mentor Marvy Moore. “Whatever you bring to the table, added with the resources from SCORE, you can be a tremendous resource to small businesses.”
How to get involved
SCORE offers several ways for Black executives to volunteer their time and expertise:
- Mentor: Black executives can serve as mentors, offering guidance and sharing their industry-specific knowledge with entrepreneurs. This one-on-one mentorship can be conducted in person, over the phone or through virtual platforms, ensuring flexibility for both mentors and mentees.
- Workshop Facilitator: SCORE conducts workshops and seminars to educate entrepreneurs on various business topics. Black executives can contribute by leading workshops on subjects where they possess expertise, such as leadership, marketing, finance or strategic planning.
Subject Matter Expert: Black executives can volunteer to provide specialized knowledge on specific industry sectors, such as technology, healthcare or retail, and assist SCORE in developing resources and content tailored to these areas.
