, wants to make sure Black entrepreneurship continues to flourish. In 2020, she launched the 15 Percent Pledge, a nonprofit that aims to increase opportunities for Black entrepreneurs by guiding companies through the process of making meaningful commitments to them. The pledge asks retailers to allocate 15% of their shelf space to products from Black-owned brands, since Black people make up nearly 15% of the US population, according to the US Census Bureau.
James said her goal for the 15 Percent Pledge is to generate $1.4 trillion in wealth for Black entrepreneurs by 2030, adding that increased access to venture capital was integral to their success. James, wearing Christopher John Rogers, told Insider the 15 Percent Pledge would start focusing on holding venture capitalists accountable., the executive director of the 15 Percent Pledge, said it focuses on entrepreneurs because of their ability to"trickle down" opportunities: Support for Black businesses can help entrepreneurs create jobs, hire more employees, and contribute to Black communities.
When a retailer signs the pledge, the nonprofit connects it with Black businesses and then tracks its progress to hold it accountable. For example, when Sephora signed the 15 Percent Pledge in the summer of 2020, it carriedGrede said that getting more retailers to sign the pledge is imperative to helping close the racial wealth gap because it gives Black entrepreneurs the opportunity to have their products seen and bought by millions of consumers.
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