Nathan Meaux is using his personal success story and resources as a blueprint to support aspiring small business owners.
Through his company, Minorities Overcoming Governmental Unjust Through Leadership (MOGUL) Initiative, Meaux is committed to supporting Black business ownership by creating the InvestBLACK funding competition. Created with Meaux’s initial investment of $100,000, the competition will select one winner who will receive $50,000 in startup funding. Additionally, the winner will be given six months of marketing, a new business website, and startup business consulting.
Speaking to rolling out, Meaux discusses how his humble origins in Crowley, Louisiana, inspired him to create his own generational wealth and invest in others.
What led you to pursue entrepreneurship and the creation of InvestBLACK?
I have two siblings and 25 first cousins. At one point, we all lived in a three-bedroom apartment. I grew up struggling but there is something in that. I graduated high school, I have a master’s and I’m the only entrepreneur in my family. So I’m familiar with the challenges of overcoming and the need for providing an opportunity to others.
After moving to LA in 2009, I started a digital marketing company. Within the last year, I decided to move forward with creating this nonprofit. It’s based on combating the injustice that we face as African Americans.
What is the biggest obstacle aspiring business owners face when going from concept to a concrete idea?
Lack of access to capital is one of the main components that we focus on. Our White counterparts typically have access to funding from a family member and friends or financing through a bank. We don’t have Black family members with money. We’re working, paying off student loans, and trying to make ends meet in our personal lives. So you don’t really have the necessary income needed to bring the business concept to fruition.