20 Key Resources For Entrepreneurs Of Color

In recent years, the number of CEOs who are also persons of color has increased. Though the percentage remains low, these gains showcase a slowly changing business landscape and the need for additional resources to ensure business leaders of color are set up for success and bolstered throughout their entrepreneurial journey.

Below, 20 Forbes Business Council members share key resources entrepreneurs of color can leverage for mentorship, knowledge or support. Read on to learn more about why these resources can provide a wealth of helpful information.

1. Minority-Focused Business Networks

One key resource entrepreneurs of color can leverage is minority-focused business networks like the Minority Business Development Agency. These networks provide mentorship, access to funding and industry connections and facilitate the creation of supportive environments. By fostering growth and collaboration, they empower underrepresented entrepreneurs to overcome barriers and scale their businesses. – Salvador Ordorica, The Spanish Group LLC

2. Accelerator Programs

Entrepreneurs of color can benefit from joining accelerator programs like Founders of Color or Backstage Capital, which focus on supporting underrepresented founders. These programs provide mentorship, funding and industry connections. They’re valuable because they offer access to experienced professionals who understand the unique challenges these entrepreneurs face and can help scale businesses effectively. – Kristina Aran, EVOLVE Integrative Psychotherapy

3. C-Level Mentors

Entrepreneurship for people of color is challenging due to the lack of role models. It’s crucial for CEOs and people of color to seek mentorship, leveraging CEO communities for guidance. Also, podcasts like Acquired, Hard Fork and Lenny’s Podcast offer valuable insights on both successful and unsuccessful companies. These podcasts broaden perspectives and provide important lessons. – Roli Saxena, NextRoll

4. Online Platforms And Communities

The key is to use online platforms and communities that connect aspiring leaders with diverse, experienced mentors worldwide. By being an active part of these groups, everyone can make the most of knowledge and support across geographical and social barriers. These groups offer guidance and are helping to build a more inclusive business ecosystem. – Nikola Minkov, Serpact

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5. An Expanded Network

Expand your network. Often, CEOs become isolated within their own structure of friends and colleagues. Accepting the baseline premise of DEI is to intentionally expand one’s reach to learn from more people of all descriptions. – Henry Delozier, GGA Partners

6. Diaspora Communities

Diaspora communities can be powerful networks for entrepreneurs of color. I’ve tapped into these groups and found mentors who have navigated similar cultural challenges. They offer unique insights on bridging cultural gaps in business contexts you won’t find in mainstream resources. – Stefanos Sifandos, ASRAYA

7. International Mentors

Entrepreneurs of color should think globally. I’ve witnessed entrepreneurs grow exponentially by seeking international mentors. Global perspectives challenge local biases, help navigate unfamiliar markets and inspire innovative thinking, which are all critical skills for leading in today’s interconnected world. – Sarah Saadoun, Exit Advisor – Business Broker

8. LinkedIn

Entrepreneurs of color can leverage LinkedIn for mentorship and support. By connecting with industry leaders, joining relevant groups and engaging in discussions, they can gain valuable insights, expand their network and access opportunities that support their growth and success. LinkedIn’s vast professional community makes it an accessible and powerful resource for entrepreneurs at any stage. – Dr. Clemen Chiang, Spiking

9. TEDx

TEDx is an excellent example of a storytelling platform that entrepreneurs of color need to embrace. In this way, they become visible, get attention from mentors and positively influence others, transforming personal histories into valuable tools. – Chris Kille, EO Staff

10. Professional Organizations

One key resource entrepreneurs of color can leverage is professional networks like the National Black MBA Association or the Latino Business Action Network. These organizations provide mentorship, as well as access to funding and educational programs tailored to the unique challenges minority entrepreneurs face. They’re valuable because they offer a strong community and practical resources. – David Price, The Price Group

11. Industry Associations

One great resource for entrepreneurs of color is industry associations. These groups offer mentorship, networking and educational programs, connecting diverse founders with experienced business leaders. Joining an industry association can help entrepreneurs of color grow their skills and expand their opportunities. – Vikrant Shaurya, Authors On Mission

12. Reverse Mentorship Programs

Consider participating in reverse mentorship programs where younger entrepreneurs of color mentor seasoned executives. This role reversal not only provides knowledge exchange but also elevates diverse perspectives, often leading to unique opportunities and recognition within the business community. – Reggie Young, Exit Advisor – Business Broker

13. A Network Of Dedicated Supporters

Like many female professionals and entrepreneurs, professionals and entrepreneurs of color can sometimes be over-mentored and under-sponsored. Make sure you are building a network of people that contains more than an army of advice-givers. Cultivate supporters by putting favors in the favor bank where you can withdraw when needed. – Joseph Santana, Joseph Santana, LLC

14. The SCORE Network

One invaluable resource for entrepreneurs of color is the SCORE network. It offers free mentoring and business workshops from experienced professionals, providing essential guidance and support to help navigate challenges and drive growth. – Dr. Anita Gupta, World Economic Forum Member Expert

15. Role Models

While there is value to joining groups for mentorship, knowledge and support, nothing beats hearing from someone you respect and admire. Who do you look up to? Make a list of people who you want to be like the most. Start by reaching out to them on social media sites like LinkedIn, through their company email or through a friend of a friend of a friend, whichever way works for you. – Vikram Joshi, pulsd

16. Professional Peer Groups

For entrepreneurs, regardless of background, leveraging diverse professional networks and peer advisory groups is invaluable. Engaging with people who bring different perspectives—not just in terms of race or gender but in thought and experience—can spark innovative ideas and lead to better business decisions. It’s about valuing unique viewpoints to drive superior outcomes, not ticking boxes. – Chad Angle, ReputationDefender

17. Internal Advocacy Groups

As an Asian-American executive, representation at all levels is essential. While many external resources exist, internal advocacy groups are also important. At Gannett, we have many employee resource groups (ERGs). I’m proud that I will serve as Asian American Forward’s executive sponsor. Creating a safe space for employees to share their experiences can drive change and foster a more inclusive workplace. – Chris Cho, LocaliQ

18. Specialized Programs Or Initiatives

For entrepreneurs of color, exploring specialized programs or initiatives that focus on minority business growth, such as those offered by the National Minority Supplier Development Council, can be transformative. These platforms don’t just offer advice, they also equip you with the tools, connections and opportunities to overcome barriers and elevate your business in competitive markets. – Waleed Najam, NEO Innovations

19. Nonprofit Organizations

Nonprofit organizations dedicated to diversity and inclusion can be valuable resources for entrepreneurs of color. For example, organizations like Ashoka and TiE offer mentorship, networking opportunities and educational resources. By leveraging these resources, entrepreneurs of color can build strong networks and gain valuable insights. – Sabeer Nelliparamban, Tyler Petroleum Inc.

20. Global Networks

Entrepreneurs of color can benefit from global networks like Endeavor or GEN for mentorship, funding and networking. These platforms are valuable as they provide a supportive community, increased visibility and resources to scale businesses internationally. Joining such networks opens doors to partnerships and opportunities across borders. – Mohammad Bahareth, Mohammad Bahareth Consultation & Research Office