Black business leaders still trying to figure out why V.P. Kamala Harris Losing the presidential race, and how to deal with the upcoming president-elect’s administration Donald Trump.
“This certainly means change. That’s what voters want and what they think President Trump stands for,” said Charles Phillips, co-chairman of the committee. Negro Economic Alliance and co-founder of Recognize.
He told CNBC: “The reason Trump won is that people are tired of the cultural war… people are more interested in dinner tables and economic issues.”
According to NBC News, Trump economic policy This is a key reason why he has gained support from black voters in battleground states such as North Carolina and Wisconsin.
But Gathering Spot co-founder and CEO Ryan Wilson believes Harris’ race and gender were the main reasons for her failure.
“I don’t know how else to have this discussion other than pointing out America’s old enemies, racism and sexism,” Wilson told CNBC. “We have to continue to fight that.”
Democratic presidential candidates U.S. Vice President Kamala Harris and Jennifer Lopez attend a campaign rally in North Las Vegas, Nevada, the United States, October 31, 2024.
David Swanson | Reuters
Some black business leaders turned to social media to respond to the election results.
Braviti Co-founder Morgan Debaun wrote on X that she was concerned about female and minority-owned businesses. “We’re about to enter a political climate where any DE and I funding, allocation only to black people, or allocation only to women, could be at risk.”
Overall, there’s been a dramatic shift from the strong support for Harris and the likelihood of her administration that was expressed online in the days before the election.
Global Black Economic Forum Chief Executive Alphonso David said he was disappointed with the results but encouraged by the turnout among black voters.
“As the dust settles, we – advocates for economic equality – will continue to work hard to achieve a country that embodies its written principles of fairness, justice and equality,” David told CNBC.
Morgan DeBaun, co-founder and CEO of Blavity Inc., speaks during the Twitter Inc. #HereWeAre Women In Tech event at the 2018 Consumer Electronics Show (CES) on Wednesday, January 10, in Las Vegas, Nevada, USA Speech, 2018.
Patrick T. Fallon Bloomberg | Getty Images
But black business leaders are not monolithic, and some see Trump’s second term as an opportunity.
The National Black Business Alliance said in a statement Thursday that it has mobilized 100 black organizations to support the president-elect’s economic agenda.
“Based on past experience, (Trump) has a successful record of working with and supporting black business owners,” said Dr. Kenneth Harris, a member of the National Alliance for Business (NABB) and CEO of the National Alliance for Business. Harris said NABB is nonpartisanbut cited the “momentum” of the first Trump administration.
“We’ve had great success with federal contracting opportunities … and we’ve been able to work closely with the U.S. Small Business Administration and the White House Executive Office to support Black-owned businesses.”
Economics over emotions. That’s the message from John Hope Bryant, the company’s founder and CEO. hope action is being sent to members of the black business community.
“We have to focus on the bottom line. Social justice from an economic perspective,” Bryant told CNBC.
“The color right now is green. It’s really green. It’s not black or white or red or blue.”
That’s the message of Angelina Darrisaw, Executive Coachplanned to be given to her clients.
“Letting this crisis really not serve the business. Instead, focus on upskilling, focus on improving service. The fear is there, I feel it myself. But it’s not going to move us forward.”
