Regions Bank to focus on African American owned businesses in Bham
Regions Bank is working to support Black entrepreneurship in Birmingham. The Black-Owned Business Initiative is aiming to help entrepreneurs in the heart of the Magic City. This includes providing resources and opportunities that promotes success. The initiative is also working to help entrepreneurship in underserved neighborhoods. Kendra Key works with Regions Bank. She says it is important to support the growth of black-owned businesses.
“It is important to support black-owned businesses and their growth because small businesses are the engine of the economy,” said Key. “Also, they are major employers and when you have a segment of the population that is not fully participating in the economy that is a problem for everyone.”
Key says she is working with other organizations to help advance this initiative and fill in the gaps. A recent study of metropolitan areas ranks Birmingham dead last for the number of black owned businesses. This initiative is also working to help entrepreneurs in underserved neighborhoods.
“We know that there are several small business support organizations that have been doing great work in Birmingham.” Keys observed. “So, we will be identifying and amplifying those current resources, but we also know that there are some gaps in our ecosystem when it comes to resources that are available for black-owned businesses.”
Key says small businesses are the engine of the economy and its important to support their growth.