The Jacksonville Melanin Market held its Black History 365 Parade and Celebration on March 3, 2024, along A. Philip Randolph Boulevard on Jacksonville’s Eastside. | Will Brown, Jacksonville Today
Published on June 13, 2024 at 10:53 am
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The growth of the Melanin Market may prove to be a blessing for an emerging entrepreneur.
This weekend, the Eastside-based nonprofit will award 15 $1,000 microgrants to small businesses that participate in its Juneteenth celebration and festival.
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Thousands of people are expected to attend the festival, which begins at 3 p.m. Saturday and runs through 8 p.m. In addition to more than 180 vendors, a live entertainment area and children’s zone will be a part of the festivities.
“One of the things we realize about Black businesses is that, for some reason, we don’t always have access to the resources to put our business out there,” says Melanin Market spokeswoman Anita Spencer. “This is a way for people to put their business out there with that little help, because we have to go through so much red tape just to get $1,000.”
The funding is aided through a partnership the nonprofit established with the Community First Cares Foundation last spring as well as funding from Coca-Cola Beverages Florida.
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The location, along A. Philip Randolph Boulevard, is not an accident. The Eastside is one of Jacksonville’s oldest self-sustaining Black neighborhoods and was a thriving hub of Black business until a 1969 riot dried up investment in the community.
Since 2019, the Melanin Market’s Juneteenth celebration has celebrated the financial freedom that is possible when one owns their own business. The nearly 200 vendors expected to participate is the highest number to date.
“The Melanin Market is important because it’s an outlet for those people who don’t have a brick-and-mortar (location),” Spencer says. “For somebody, they may not even have a food truck; but, they have some really good cakes or what have you. This is an opportunity for them to let people know what services and goods that they have.”
Florida has become a hub of Black business development.
Black entrepreneurship in Florida has increased faster than the nationwide average. According to the U.S. Census Bureau, there were 18,502 Black-owned businesses in Florida in 2021, a 35% increase from 2019.
Black-owned businesses employ 108,713 Floridians and 1.4 million people nationwide.
Nevertheless, local Black business owners tell Jacksonville Today that access to capital is one of the largest impediments to their growth.
Analyses from Ernst & Young as well as Crunchbase indicate that venture capital funding for all businesses in the first quarter of 2024 was at the lowest level in a decade.
Research from the Federal Reserve indicates that most startups — regardless of race — rely on personal sources of income as they seek to get off the ground. When startups that employed people did seek capital from banks and online lenders, there was a disparity in who was funded.
That’s why Spencer, who will celebrate the 20th anniversary of her Springfield beauty salon and spa later this year, is delighted at the thought the Melanin Market may serve as a launching pad for another entrepreneur.
“It’s an amazing part of our process. That’s the goal,” she said. “Our goal is to shine the spotlight on these businesses. And if we can help a business grow, you’re impacting the community. You’re impacting families. That’s huge for us!”
The Melanin Market has previously awarded $500 grants to businesses. The connection with Community First allows the nonprofit to expand its work in the heart of the Eastside.
“We are thrilled to partner with the Melanin Market to support our local minority-owned businesses,” Community First Cares Foundation board Chair Roger Rassman said in a statement. “This is more than just financial support — we are investing in the dreams and aspirations of our community so they can live their best lives. Our team is genuinely excited to see these microgrants empower entrepreneurs, spark innovation and create lasting positive change.”
