Is Kamala Harris Good for Black Entrepreneurs? We Asked Business Leaders

Kamala Harris’s “Opportunity Agenda for Black Men” was rolled out on October 14, 2024, across several key states, including North Carolina, Georgia, and Michigan. Specifically, the campaign included stops in cities such as Charlotte, Atlanta, and Detroit, with a focus on addressing economic, educational, and health disparities affecting Black men.

Key aspects of Harris’s agenda include issuing up to one million $20,000 forgivable loans through partnerships with community-based lenders and expanding job training programs in fields like technology and renewable energy.

As well as expanding access to mentorship and training programs for Black men, another key aspect of Harris’ Opportunity Agenda is health equity, with proposals to cap insulin costs, fund sickle cell research, and support mental health services, all aimed at reducing chronic illness rates in Black communities.

The plan also includes federal legalization of marijuana—a shift Harris frames as an effort to reduce incarceration rates and create new economic opportunities in the legal cannabis industry​.

Some believe that Harris’s targeted outreach signals a genuine commitment to addressing issues specific to Black men and dismantling structural barriers that have historically limited opportunities in these areas.

However, others argue that the rollout comes too late in the campaign, and they worry that the policies might be perceived as a last-minute appeal to win over Black male voters amid concerns about declining support within this demographic.

Reflecting these diverse views, several Black business leaders have shared their perspectives on Harris’s agenda.

Chandler Malone, Co-Founder & CEO, Path

Kamala Harris’s economic opportunity plan hits on some key areas that are critical for the future, but two areas stand out to me the most.

The 1 million fully forgivable $20,000 loans to Black entrepreneurs could prove to be an incredible catalyst that also hits close to home for me. I launched my first company with just under $20,000, and ultimately went on to raise millions in venture capital and create opportunities for thousands of people to secure upwardly mobile tech careers through the business from that initial investment.

Currently I am the CEO of Path, an AI company focused on empowering to succeed academically and professionally through our standardized test prep tools—think ACT, SAT, LSAT, MCAT, CompTIA, and AI Genius. Working at the intersection of AI, education and workforce, I see every day how automation and globalization are reshaping the labor market, making it even harder for all Americans to compete and thrive, creating an urgent need for the education, training, and mentorship programs mentioned in her plan

I, like most, am very intrigued by the key points of the plan and curious to see how her plan takes shape. For this to truly succeed, it will need to tap into the expertise of Black entrepreneurs and non-profits already driving real outcomes.

Those of us on the front lines are building opportunities despite these systemic challenges. If Harris’s plan empowers and amplifies the work that is currently driving successful outcomes, it has the potential to spark meaningful, long-term change for our country.

Jordan L. Walker, Co-Founder & CEO, Backtrack, Yac

Kamala’s policies—providing 1 million forgivable loans for Black men, legalizing recreational marijuana, and funding education and mentorship programs specifically for black men—comes across to me, and many other black people as insulting, disrespectful, patronizing, and divisive.

While I’ll give her the benefit of the doubt that these things may be well-intentioned, these policies diminish the hard work and excellence of founders like myself, severely underserves the needs of founders of all races, can be interpreted as racist, and hurts many others by framing success for black people as something they can’t achieve on their own, but only achieved through government intervention rather than hard work, grit, and merit.

The forgivable loans specifically for only Black founders are divisive and implies black founders can’t succeed without handouts and charity. In my own experience, I worked extraordinarily hard to raise funding for my business, worked for free for years, and put in extremely long hours just to have an opportunity.

Giving someone a $20,000 handout may give them a false sense of reality, indicating hard work is not needed, which could in turn hurt their business down the line. I and many other Black people I know don’t want or need charity.

Additionally, Kamala’s new stance on marijuana legalization cannot be ignored and is quite hypocritical. She once incarcerated people, especially black men, for minor drug offenses. Now, she’s trying to walk backwards in supporting legalization and feels like an insincere attempt to gain support while not addressing harm her past actions caused black people.

While I strongly believe mentorship and education are valuable—I mentor other startups, have worked with school programs, and have been a benefactor of mentorship myself—blanket policies that target only specific demographics will alienate other deserving individuals and reinforce bad stereotypes.

I know founders of all races and backgrounds who need mentorship and education. Starting a company is extremely painful and difficult no matter what you look like, and everyone needs help along the way. I believe a long-term successful mentorship program is founded on systems that reward hard work and innovation for everyone.

Ultimately, my point is these policies and types of support should be made available to everyone regardless of race. Mentorship should be available to every single founder who needs it. As someone who has worked for free for a long time, put in many late nights and early mornings, and has given my all for what I do—I believe founders should strive to be excellent in their own way.

Marc Washington, Founder & CEO, Supergut

As a Black founder and small business owner, I’m clearly paying attention to policies that can impact the environment for small, emerging businesses, especially those that affect underserved communities.

In that context, I am very optimistic that VP Harris’ Opportunity Agenda for Black Men can have a significant positive impact in addressing some pervasive economic challenges for small business owners, and in creating opportunities for underserved communities.

In my opinion, small businesses are the engines that drive our economy, and more needs to be done to create an environment that encourages entrepreneurs to pursue their dreams.

Unfortunately many small business owners, especially those from minority communities, too often lack support and funding. The stats about funding to Black business owners are nothing short of depressing, with Black-founded startups now receiving less than 0.5 percent of venture capital funding.

Although I have raised venture capital from some leading VC firms for my company, Supergut, my experience is the exception rather than the norm as most Black founders haven’t been afforded similar opportunities.

Clearly something needs to be done. Given a key tenet of VP Harris’ Economic Development Tour is about increasing access to capital through investments and loans, I believe this can be highly beneficial to support our economic engine of entrepreneurship, particularly among underrepresented Black entrepreneurs.

In addition, if implemented effectively the proposed investments aimed at improving education, training, and economic mobility could boost the environment for business owners and the communities we serve.

Expanding our next generation of skilled labor can be instrumental for small businesses like mine that are constantly in need of high-caliber talent. Also closing the racial wealth gap and improving economic mobility of underserved communities can translate into increasing consumer demand for our products and services.

Kyle Samuels, Founder & CEO, Creative Talent Endeavors

Kamala Harris’ economic plan is ambitious and positive for all Americans, with an eye towards Black men. Fully forgivable loans are a game-changer. We’ve been dealing with systemic blockades to capital access for ages, and this is one way to knock down those walls. A chance to get money flowing where it’s most needed, so Black men can build businesses that grow roots in their communities? I’m all for it.

Then there’s the move to legalize recreational marijuana, with Black men having a seat at the table. That’s a big deal, considering how long we’ve been disproportionately targeted for it. Allowing us an opportunity to participate in this industry flips the script—it’s empowerment where we’ve been shut out and penalized for decades.

As the CEO of Creative Talent Endeavors, I’ve been fighting to shift an industry that’s often been exclusive and outdated. Harris’ plan brings that same fresh approach to Black men in business, education, and even health. This isn’t just about loans; it’s about giving Black men the tools to make real change—not just for themselves, but for everyone who comes after.