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Closing the gap for black business owners

Early in his career, the Burunda Prince ’83 realized that even with a position, a good office, and a bachelor’s degree in engineering for MIT and MBA at Harvard Business School, he would not be available for the job interview.

At one point, after meeting at one of Prince’s activities, the men at work continued their conversation as they entered the men’s restroom. “I followed them,” says Prince, laughing. “I told them I was determined to defend my position. And if this is where I talk, let it happen.”

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Although many women and black people sit on the bench during elections, Prince says, the groups are often left in the social media. Overcoming these barriers is especially important because doing business is critical to wealth creation. “It’s very similar to the economic gap between white Americans and black people and business,” he said.

As a senior employee at the nonprofit Russell Innovation Center for Entrepreneurs (RICE) in his hometown of Atlanta, Prince is working with his team on construction projects to help black entrepreneurs better build their companies.

RICE is a component of machine tool, component parts, and component manufacturing component. Founded in 2019 by the descendants of Herman J. Russell, a well-known Atlanta businessman, charitable donor, and human rights activist, it offers business advice, education, fundraising opportunities, and the opportunity to socialize with more than 500 black people and small businesses. Some of the donations made during the epidemic were to help pay for the Paycheck Protection Program to help local businesses thrive.

“It can take years for a business to grow, grow, and sustain. In addition to business and finance, I also need to provide alternatives, ”says Prince. “We found that the most important environment – the way employees in a company interact with a business partner – is the best way to succeed. It also shows that RICE has been around for a long time with members, funders, and sponsors. ”

Prince came to RICE from the chief executive of the Farm, Comcast NBCUniversal’s professional accelerator. “As a COO I have been able to use my experience in corporate work to the point of applying for leadership in nonprofit organizations,” he says. “I have the opportunity to support black entrepreneurs in ways that affect the lives of people and their communities.”


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