Senate Resolution No. 1431

BY: Senator COMRIE

RECOGNIZING October 21-28, 2023, as Black
Entrepreneurs Week in the State of New York

WHEREAS, It is the sense of this Legislative Body to take note of
and publicly acknowledge individuals who have distinguished themselves
through their exemplary careers, accomplishments, and purposeful lives
of service to their community and their profession; and

WHEREAS, Attendant to such concern, and in full accord with its
long- standing traditions, this Legislative Body is justly proud to
recognize October 21-28, 2023, as Black Entrepreneurs Week in the State
of New York; and

WHEREAS, Black Entrepreneurs Week is in recognition of Black
business and entrepreneurship which has become one of the most impactful
and economic shifts in the world; and

WHEREAS, The tradition of recognition began in 2020, when the Hip
Hop Summit Youth Council (HHSYC), known for their work connecting youth
in at-risk communities to life changing opportunities, created Black
Entrepreneurs Day in partnership with "The People's Shark," Daymond
John, the founder and CEO of FUBU ("For Us, By Us") and Co-Star of ABC's
four-time Emmy Award winning show, Shark Tank, who serves as curator;
and

WHEREAS, HHSYC worked with Daymond to harness the ambition,
creativity, and social capital found throughout the Hip Hop industry and
used those elements as a vehicles to showcase the power of Black
economic might and to inspire and inform future generations; and

WHEREAS, Entrepreneurship, financial literacy, and education are
necessary tools to engage students and young adults to ensure their
future success, and to avoid problematic social issues and cyclic
behavior that have contributed to the "glass ceiling" and other economic
disparities; and

WHEREAS, After witnessing three massively successful years of
hosting Black Entrepreneurs Day and the growing effects of outreach and
empowerment exhibited, its founders have decided one day was not enough
to do justice to the community of excellence and extended the event to
Black Entrepreneurs Week to be held October 21-28, 2023; and

WHEREAS, This very first Black Entrepreneurs Week coincides with the
50th Year of Hip Hop and will involve celebrity guests such as Spike
Lee, Killer Mike, Shaquille O'Neal, Tracee Ellis Ross, and Venus
Williams in Game Changer Conversations, where they will share their
entrepreneurial stories and provide valuable insight and knowledge into
the world of Black business and social success; and

WHEREAS, There are approximately 3.12 million Black-owned
businesses, generating $206 billion in annual revenue and employing 3.56
million workers, with Black spending power projected to reach $1.8
trillion in 2024; and


WHEREAS, Closing the wealth gap through entrepreneurship and
financial education is the key to public safety and helping the youth
and young adults of this State and Nation establish the financial
independence necessary to truly thrive, and will create a foundation and
platform for generations of future Black business owners to succeed;
now, therefore, be it

RESOLVED, That this Legislative Body pause in its deliberations to
recognize October 21-28, 2023, as Black Entrepreneurs Week in the State
of New York.