August 5, 2024
As Celtics superstar Jaylen Brown launches a nonprofit whose mission is to close the racial wealth gap in and around Boston, existing incubators and funders with a similar focus are welcoming the high-profile spotlight he brings to this arena.
Brown’s new nonprofit, called Boston Xchange (BXC), plans to back entrepreneurs of color in the creative economy from design and music to fashion and the culinary arts.
Makeeba McCreary, who runs The New Commonwealth Racial Equity and Social Justice Fund in Massachusetts, said that minority-led businesses and nonprofits still find it very hard to access funding and loans.
“Small businesses and grassroots sort of organizations, both are really challenged and struggling to find liquid resources that allow them to operate unencumbered, if they are led by people of color,” she said. “That is what we are.”
McCreary is optimistic that Brown’s nonprofit can make a significant difference in Boston by helping creative people of color become what she calls “part of the fabric” of the city.
“If they’re able to fully participate in that, we’re going to be that world class city that we talk about,” she said. “Without them, I fear we won’t get there.”
