After nearly eight months of setbacks and challenges since the onset of the pandemic, Miami-based storytelling and content marketing agency, TB Media Group, receives Facebook’s small business grant for Black-owned businesses.
Minority-owned small businesses, particularly those that are Black-owned, have been hit especially hard during the COVID-19 pandemic.
According to this Forbes article, Covid-19 has shuttered 41% of Black-owned businesses, compared to just 17% of white-owned businesses. Black business owners who apply for funding have a rejection rate three times higher than that of their white counterparts, according to a Goldman Sachs 10,000 Small Businesses report that surveys program participants.
Those statistics are shocking, but unfortunately, not surprising. Entering 2020, TB Media Group was on track for explosive growth, and in business, there’s something to be said for momentum.
When the pandemic hit and everyone was faced with this unthinkable economic shut down, it’s like applying the brakes to a semi-truck filled with heavy cargo that isn’t secured. Upon braking fast and suddenly, you’ll probably have a mess, and it’s going to take a while to clean up and get going again.
As a new business owner, I am very grateful I have been able to stay afloat, keep TB Media Group running, initiate new projects, and employ my team. This is despite several big opportunities that were in the works with potential clients prior to the pandemic. Those projects were either put on hold, resulted in a budget reduction, or cancelled entirely which changed the trajectory of my business…and our goals for 2020.
Being in business is about getting creative and being flexible, and despite financial uncertainty, I launched a brand new project, my video podcast Lift U Up: Inspiring Health Stories in April 2020. Why? There are several reasons, which I dive into more in this podcast episode, 6 Things I’ve Learned From 6 Months of Podcasting.
Here are the cliff-notes:
- During a recession, I believe you do more marketing not less (we are a content marketing agency, after all, and it was time to practice what we preach).
- I wanted to continue to meet new people, potential clients despite not being able to meet in person.
- I wanted to help market other businesses in the health and wellness industry, which is an industry I’m passionate about, but one that became even more relevant upon the onset of the pandemic.
As a result, I have supported over 30 entrepreneurs and business owners in South Florida and beyond with free marketing, in just 6 months of podcasting.
I believe when you help others, you naturally receive help in return.
This is exactly what happened and as a result, we’ve become one of South Florida’s Black-owned, small businesses to receive the $2,500 cash grant and $1,500 Facebook ad credit. This Facebook grant recognizes the good I am doing for the community and is affording me the opportunity to continue to do it. I love being able to market my business in tandem with promoting initiatives of others who are creating more health and happiness in the world, something we all need right now.
Although, for me, a few thousand dollars isn’t the difference between staying in business or not, every little bit certainly does help and for that, I am grateful. I will be using the $2,500 to continue producing Lift U Up: Inspiring Health Stories, implement new marketing initiatives, and pay off debt.
Thank you, Facebook, for the grant and for supporting the Black community.