Building Strong Networks to Create Growth and Resilience
Our communities are always important. From our schools to our places of worship to our small businesses, we want our communities to be rich in opportunities. The same is true for Black-owned businesses - and maybe even more so. For Black-owned businesses, community support is their backbone. Strong community networks give entrepreneurs the resources, connections, and financial backing they need to stay viable. And, when faced with a lack of opportunity from traditional lenders, it’s their communities that become a Black-owned business’ greatest tool.
The Role of Community in Black-Owned Business Success
The saying goes, “a rising tide lifts all ships,” and it fits how community support for Black-owned businesses works. The people who buy from you, who live and work near you, want you to succeed, because your success means their success. Your successful business helps create a more stable economy, bringing jobs, interest, and resources along with your success. In fact, according to the Office of Advocacy, there were 3.5 million Black-owned businesses in 2024, and they employed 1.2 million people.
The benefits of small businesses for local communities don’t stop there. Small businesses become the pillars of their neighborhoods. They’re the places to meet up and exchange ideas - the literal modern-day marketplaces. All of which create stronger community ties and advocacy.
How Honeycomb Credit Supports Community Engagement
At Honeycomb Credit, we believe that equitable access to funding should be the norm, not the exception. We are committed to connecting business owners with local investors who believe in their success. Our community-driven crowdfunding model empowers small businesses by allowing everyday people to invest in their favorite local spots.
It’s the perfect pairing: Black-owned businesses bring their strong communities and networks, and we give you the streamlined platform, interested investors, and marketing plans to successfully launch and complete your growth offer. When you launch an offer with Honeycomb Credit, you’re giving your community the opportunity to invest in you, just like you’ve invested in them.
A Black-Owned Business to Watch: Butter + Scotch
A powerful example of community-driven success is Butter + Scotch, a new full-service restaurant and bar in South Downtown Atlanta, founded by Malik Rhasaan and Detric Fox-Quinlan. Their journey shows how strong community backing and alternative funding solutions can skyrocket a business.
Malik and Detric originally launched Che Butter Jonez, a food truck serving Southwest Atlanta. Their reputation as a must-visit food destination only grew, leading them to their next big venture: Butter + Scotch.
It was knowing they had such a dedicated customer base and strong brand that made Malik and Detric want to try a new way of raising the capital. With Honeycomb Credit, they raised $62,300 from community investors. Butter + Scotch offers an up-scale dining experience while maintaining the community-driven spirit that made Che Butter Jonez a success.
Final Thoughts
The success of Black-owned businesses like Butter + Scotch shows the strength of community support. But it’s not the only example, and we want to see more. Together, we can create opportunities for Black entrepreneurs to build lasting legacies.
At Honeycomb Credit, we remain dedicated to championing these businesses by providing equitable funding solutions and meaningful connections. When communities come together to support local entrepreneurs, the entire economy benefits. If you’re interested in growing your business with community support, we’re here to help.
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