February Hot Topic
Black History Month Spotlight: Board Member Ethan Daly on Supporting Black Entrepreneurs
Black History Month is a time to honor the achievements, resilience, and legacy of Black individuals who have shaped history and continue to inspire us today. At Sunshine Enterprises, we are committed to celebrating and supporting Black entrepreneurs, particularly those in underserved communities. This month, we feature reflections from our dedicated board member, Ethan Daly, on what Black History Month means to him and the vital role of Black-owned businesses in our communities.
Sunshine Enterprises and Black Entrepreneurs: Making an Impact
Sunshine Enterprises is dedicated to empowering Black entrepreneurs by bridging the gap in funding and resources. The statistics speak volumes:
85% of our Community Business Academy alumni are Black.
We currently support 786 active Black-owned businesses.
Black-owned businesses make up around 2.8% of Chicago businesses but face unique challenges in accessing funding. Since 2013, our Black alumni have secured over $9 million in financing through our Access to Capital program and coaching, helping them secure grants, loans, and real estate investments.
In 2023, with Sunshine Enterprises’ support:
45 Black-owned businesses started
166 Black-owned businesses strengthened
230 Black-owned businesses expanded
Ethan Daly’s Journey with Sunshine Enterprises
Ethan Daly, Director of Heal America at the Stand Together Foundation, has been instrumental in supporting racial justice and community-driven solutions. His connection to Sunshine Enterprises dates back to 2012, when he joined the staff at Sunshine Gospel Ministries to help launch a program serving entrepreneurs in the community. He played a pivotal role in establishing the Community Business Academy (CBA) in partnership with Rising Tide Capital, making Sunshine Enterprises the first pilot outside New Jersey. Now a board member since 2022, Daly was drawn to the role to support the search for a new CEO, ensuring the organization's continued growth and impact. He played a key role in recruiting BJ Stewart as CEO, recognizing the importance of strong leadership in fostering Black and Brown entrepreneurship in Chicago. “Chicago is a special place, and Black and Brown entrepreneurs are crucial to building a robust economy that makes Chicago a world-class city. Sunshine Enterprises plays a vital role in making that happen,” says Daly.
Reflections on Black History Month
For Daly, Black History Month is an opportunity to celebrate the achievements of Black leaders. One such figure who inspires him is Dr. John-Morton Finney, the son of a former slave who spoke six languages, attended law school twice, and earned over a dozen degrees in his lifetime. “I had the privilege of meeting Dr. Finney in 1990 after he turned 100. I wrote a school paper about him in second grade, and the Indianapolis Star covered the story. Meeting him was a moment I will never forget,” Daly recalls.
Hopes for the Future of Black Entrepreneurship
Looking ahead, Daly envisions a future where Black entrepreneurs are industry leaders, driving economic growth through principles like cooperative economics. He sees immense potential in Black businesses leveraging their collective strengths to create cycles of mutual benefit across communities. “I hope to see more Black entrepreneurs contributing to the growth of America’s economy as industry leaders. By working together, we can move closer to fulfilling the dream of a free and virtuous society,” he shares.
