February 16, 2023 –WASHINGTON, DC. — The U.S. Black Chambers Inc., (USBC) is thrilled to announce a financial inclusion partnership with Robinhood Markets that will includelocal, community education events in partnership with our affiliate chambers of commerce. Black businesses are springing up all around the country, whether they are side hustles, gig workers or the next government defense contractor. Tools that can make it easier to save for retirement are often not available to these innovate entrepreneurs, which makes up as much as 40% of America’s total workforce.
“Robinhood believes that the financial system should be built to work for everyone. In support of this, we are working with the U.S. Black Chambers to launch programming that addresses a critical area of financial empowerment: retirement,” said Dan Gallagher, Chief Legal, Compliance, and Corporate Affairs Officer at Robinhood Markets, Inc. “Robinhood and the USBC have a shared commitment to increasing economic empowerment through access and education. We are thrilled to bring retirement education workshops to its members across the country, many of whom — as entrepreneurs, sole proprietors, and small business owners — may not have access to retirement benefits through a traditional employment structure.”
Pew Charitable Trust recently found lack of access to a workplace plan as the most significant retirement savings challenge facing non-traditional workers, with 77% saying they would participate in a defined contribution savings plan if they were eligible for it. “At USBC, our focus on entrepreneur training and access to capital makes retirement planning a critical topic for our members” said Talisha Bekavac, Executive Vice President at USBC. “Weappreciate Robinhood’s intentionality on ensuring the Black business community has access to these tools, so that they can evaluate their options and continue being the engines of innovation that underpin our economy.”