Our Vision
Improve economic equality by creating sustainable and effective change to help close the economic gap for Black-owned businesses.
Black-Owned Business Initiative Update
The John Middleton Company (Middleton) proudly traces its roots back to its founding in 1856, where it began as a local tobacco shop in Philadelphia. We are grateful to the city which gave us our start and we are committed to supporting economic equity efforts that help close the gap for Black-owned businesses in our founding community. Since 2020, Middleton has contributed nearly $3.5 million in grants and technical assistance to nonprofit partners in Philadelphia and Cleveland, which have positively impacted over 100 Black-owned businesses. There’s much more work to be done and we’re just getting started.
What We’ve Accomplished in Philadelphia
In December 2020, Middleton contributed $575,000 to The Enterprise Center, a Philadelphia-based, Black-owned nonprofit organization that promotes racial and economic equity with small businesses. The Enterprise Center distributed $500,000 to 67 diverse businesses and the remaining $75,000 was allocated to The Enterprise Center to support their ongoing operations.
In November 2021, another $500,000 was disbursed to assist 15 small Black-owned construction business in the West Philadelphia area. Another $75,000 supported ongoing operations for our nonprofit partner.
November 2022 saw $500,000 disbursed for the creation of Due Diligence Advance Pool (DDAP), with another $75,000 again going to support overhead costs.
And, in February 2023, $500,000 was provided to support the Virtual Diverse Small Business Center (VDSBC). Once again, an additional $75,000 to support the overhead costs of our nonprofit partner.
Where We Are Going
We plan continued support for The Enterprise Center’s DDAP and VDSBC programs beyond 2023.
The DDAP is designed to provide Black and other minority businesses with much needed financial resources. It is a self-replenishing pool of capital utilizing both debt and equity financing that helps reduce barriers to investment and minimize the number of deals that are broken.
The VDSBC provides business services that support clients as they increase their business and financial acumen, both critical to business success. By providing 1:1 support virtually and by phone, The Enterprise Center will assist businesses with the following services:
- Preparing and submitting applications for other funding sources.
- Pre- and post-technical assistance to educate and prepare clients to overcome personal and business barriers.
- Workshops and 1:1 coaching provides borrowers with an understanding of balance sheets, income statements, cash flow and more.
- Procurement and Joint Venture Networks enable clients to connect to more resources, penetrate new markets and access private networks of buyers, and participate in mentorship opportunities to maintain their success.