Black Business Hub Opens in Madison, WI, Offering Funding and Mentorship

A hub geared towards Black business owners has opened in Madison, WI.

The Black Business Hub is made possible through the efforts of The Urban League of Greater Madison (ULGM), which was established in 1968 to educate and empower the Black community both personally and professionally, per its website. Their programs have been geared towards the youth, families, job seekers, and employers.

The enterprise center aims to reduce the disparities faced by Black entrepreneurs. In 2022, philanthropist MacKenzie Scott donated $2.9 million to The Urban League of Greater Madison — bringing the project’s total raised to $22 million at time — and a portion of the proceeds was used to support its development.

“We’re honored and grateful that Ms. Scott and her team have recognized the Urban League’s value and impact to the community,” Ruben L. Anthony, Jr., president and CEO of ULGM said in a statement, per Chanel 3000. “By placing racial equity and social justice at the forefront of her philanthropic mission, Ms. Scott is shining a much-needed spotlight on the nation’s structural and institutional limitations and is helping to build a stronger, more resilient society for everyone.”

In August 2024, the hub opened with the support of thousands in the local community, WKOW 27 reports. Its existence will help the current 40 Black business owners in Dane County and support others looking get their businesses up and running.

“There are 10,000 businesses in Dane County that have more than only one employee,” Anthony told the news station. “Only four-tenths of a percent of those businesses are Black owned businesses. We believe here at the Black Business Hub that we are going to change those numbers.”

Plans for the Black Business Hub include access to funding and mentorship and resources such as classrooms, event spaces, and a large kitchen space, per the outlet.

The Black Business Hub is prepared to onboard 90 businesses in its spaces. Already 20 entrepreneurs are rooted in the building, according to the UGLM CEO. Some of the businesses listed include a barbershop, beauty school, bakery, and wine shop. In the next few years, the UGLM projects the Hub to support at least 100 Black-owned businesses and entrepreneurs, generate more than 150 jobs, provide training for Black real estate developers, and more.