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US (NJ): Giving black-owned businesses the tools to thrive
Earlier this week, four Black-owned business owners joined a roundtable discussion to share their stories of opening and growing their businesses in New Jersey. The roundtable, which was hosted by the New Jersey Economic Development Authority (NJEDA) as part of its Black History Month celebration, centered around the entrepreneurs’ experience as Black business owners in the state and how New Jersey can continue providing resources to uplift Black-owned businesses.
The roundtable was held at Mercer County Community College’s Trenton Campus and included businesses from a variety of industries such as cannabis, maternal health, hydroponic farming, and the arts.
“Since day one, Governor Murphy has been committed to uplifting Black business owners and creating a strong, diverse, and equitable economy. Thanks to Assemblywoman McCoy and the entire Legislature, the NJEDA has been able to implement programs that unlock critical resources to ensure Black entrepreneurs can make their dream a reality,” said NJEDA CEO Tim Sullivan. “While New Jersey has made great progress, our work continues to ensure minority business owners have the resources to grow their businesses in the Garden State.”
“Governor Murphy’s dedication to supporting Black-owned businesses plays a crucial role in strengthening our families, communities, state, and nation,” said NJEDA Chief Diversity & Inclusion Officer Michelle Bodden. “Discussions like these are vital to ensuring that the NJEDA’s programs are responsive to the needs of minority business owners, who face unique challenges in accessing the capital and resources needed to grow and thrive.”
“As the daughter of a small business owner, I’ve witnessed the dedication, resilience, and innovation required to establish and maintain a business,” said Assemblywoman Tennille R. McCoy. “Black entrepreneurs are crucial to our state’s economic growth, and it’s imperative that we keep investing in programs that dismantle barriers and foster equitable opportunities. The NJEDA’s commitment to supporting Black-owned businesses empowers more entrepreneurs to realize their visions, ultimately strengthening communities and fueling economic success throughout New Jersey.”
Simply Pure Trenton is a cannabis dispensary located in Ewing and is the first Black-owned social equity dispensary to receive a license in New Jersey. Founder and CEO Tahir Johnson received funding through the Cannabis Seed Equity Grant.
“As a Black entrepreneur in the cannabis industry, the support from the NJEDA has been instrumental in turning my vision into reality. Access to capital remains one of the biggest barriers for minority-owned businesses, and programs like the Cannabis Seed Equity Grant are critical in leveling the playing field,” said Tahir Johnson, Founder & CEO, Simply Pure Trenton. “Through this funding, Simply Pure Trenton was able to establish itself in New Jersey’s cannabis market, creating jobs and economic opportunities in our community. I appreciate the NJEDA’s commitment to ensuring Black-owned businesses have the resources they need to thrive.”
Based in Trenton, Melinated Moms is a consulting firm that focuses on services for corporations, non-profits, government entities, and other organizations committed to strengthening maternal health outcomes for marginalized communities. Founding President and CEO Jatesha ‘Jaye’ Wilson was awarded funding through the Commission on Science, Innovation, and Technology’s (CSIT) Maternal and Infant Health R&D Grant.
“As a Black woman-owned business, having opportunities to share the challenges, complexities, and championing moments of social entrepreneurship is always important. While we know Black women account for less than one percent of Venture Capital funding; it is important to learn how other investment funds can diversify their revenue and resource access in the same way the NJEDA invested in my company,” said Jatesha ‘Jaye’ Wilson, Founding President & CEO, Melinated Moms. “My goal with sharing the work of my ‘MOM Profit’ is to gain direct visibility of what Black women business owners are experiencing and give insight to how to improve our business relationships with the right support behind us.”
GeoGreens, located in Hamilton, is an indoor hydroponics farm that grows fresh, local produce year-round for the Tri-State area. Because GeoGreens is entirely indoors, it is not subjected to the effects of climate seasonality and is aiming to become as close to 100 percent zero waste as possible.
Founder and Owner of GeoGreens Desmond Hayes is the recipient of the Clean Tech Research and Development (R&D) Voucher Pilot Program, Manufacturing Voucher Program (MVP) Phases I and II, the CSIT Food and Agriculture Research & Development Pilot Seed Grant Program, the CSIT Pilot Clean Tech Demonstration Grant Program, the Main Street Micro Business Loan, the Small Business Improvement Grant, and the Small Business Emergency Assistance Grant Phase IV.
“Simply put, without the NJEDA and CSIT, and the wonderful staff that have remained accessible, GeoGreens would not be in a position of growth, with a prosperous future ahead,” said Desmond Hayes, Founder & Owner of GeoGreens. “Both agencies have helped our organization remain operational through turbulent times in the industry, pivot into different disciplines, and grow national relationships. For this, and much more, we are truly appreciative of the agencies’ assistance!”
Located in downtown Burlington, The Turquoise Cup is a paint-your-own pottery and ceramics studio specializing in art and pottery classes for kids and adults, as well as events such as birthday parties. The studio is also a full-service cafe, offering coffee, tea, boba, sandwiches, and baked goods. Founder and Owner Erica Jones received funding through the Small Business Improvement Grant and the Main Street Micro Business Loan.
Through the Main Street Recovery Program, which provides grants, loans, and technical support to eligible New Jersey businesses, the NJEDA is supporting minority-owned businesses across the state. Last year alone, the NJEDA supported nearly 500 Black-owned businesses, totaling $7.8 million in funding.
