Nikema Williams, a democratic representative from Georgia, recently introduced a bill providing aid to HBCU entrepreneurs. Named the Minority Entrepreneurship Grant Program Act of 2023, the bipartisan bill is strictly aimed at HBCU students and other minority-centered universities. The program will nestle inside of the Small Business Administration and will provide grants beginning at $250,000 for minority universities with young entrepreneurs.

Williams got support from both sides of the aisle on the legislation. Republican representative Brian Fitzpatrick of Pennsylvania is a co-sponsor of the bill, along with Democratic representatives Alma Adams (North Carolina), Dwight Evans (Pennsylvania), and Norma Torres (California).

“[Atlanta is] at the bottom of the list for the racial wealth gap, and, so now, as someone in a position of power, I have the opportunity to put policies in place that we can actually change that,” Williams said.

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Williams is looking to capitalize on the recent growth of Black businesses and entrepreneurship. Between 2017 and 2020, there was a 14% increase in the number of total businesses with majority Black ownership, according to the 2020 U.S. Census. Those businesses brought in $141.1 billion, which was an 11% increase from 2017.

Of course, other people are suspicious of the increase in Black success. The American Alliance for Equal Rights sued Fearless Fund, a venture capital organization, for “discriminating” against non-Black women. Williams had a succinct response towards the nay-sayers.

“I can't base what I'm doing to serve my constituents on what might happen in the future,” she said. “What I know is the need today is that Black and brown businesses need access to capital.”