Le Lézard
Classified in: Business
Subjects: BLK, SBS

BSAS Launches an alternative to Venture Capital for Black Tech Founders

BRAMPTON, ON, July 27, 2020 /PRNewswire/ -- Founders of Black Startup companies no longer have to worry about being snubbed by VCs or finding hundreds of thousands of dollars to pay staff. Newly launched hiring platform, Black Startup Angel Staff (BSAS) gives Black Startups access to team members who are willing to work at reduced rates, for perks or profit-sharing.

Such news comes at a critical time when the black community is screaming for an end to racial injustice and seeking to empower Black-owned businesses.

It is common knowledge that black entrepreneurs interested in starting a business do so at a clear disadvantage and receive only 1% of Venture Capital Funding. Additionally, when applying for Business loans, they are shouldered with unusually high-interest rates, and often have to wait for more extended periods during the application process.

In this regard, BSAS launched its platform to allow prospective black entrepreneurs to attract talent and build a team when investors are not readily available.

How does this work?
Black startup companies are given access to team members from a global staff database, including North America, The Caribbean, South America, Africa, and England, by registering on the platform. They are then charged a small fee ranging from $15 to $75 to recruit workers. Job Seekers, on the other hand, are allowed to add a profile and upload a resume at no cost. 

Launched on July 13, 2020, the main objective of BSAS is to equip black founders with affordable, experienced team members and leverage a barn-raising mentality to grow their startups.

This BSAS website focuses on specific hiring types, such as:

An extensive list, as well as restricted company types can be found at https://bsas.work/faq.

The platform is inclusive and not entirely restricted to black members but leaves the door open to any startup experiencing the same growth, talent and VC challenges.

Says Marketing Manager Sharnon Williams, "In supporting black startups, the racial wealth gap will eventually be narrowed. The black community will then be strengthened. There will be increased access to services specific to the black community's needs. Importantly, job opportunities will be created, and enough revenue will be generated to adequately compensate a thriving talent base."

Media Contact
Carol Barrett

SOURCE Black Startup Angel Staff

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News published on 27 july 2020 at 08:38 and distributed by: