By Aaron Allen, The Seattle Medium
The Washington Economic Development Association (WEDA), a non-profit entity devoted to fostering economic development and vitality throughout Washington, recently announced that they will honor Jenefeness Franke with the distinguished Economic Development Advocate of the Year Award. Franke, who has nurtured many future entrepreneurs as a professor and faculty coordinator at Seattle Central College, will become the first Black woman to receive the award.
“I am deeply honored to receive this award, which reflects not only my personal journey but also the collective dedication of countless individuals and organizations committed to our shared mission,” says Franke, founder of Fiscal Finesse Consulting and co-founder of Black Owned Business Excellence (BOBE).
Franke has been at the forefront of initiatives whose efforts help to elevate Black-owned businesses through the BOBE since 2019. Her influence has been essential in dismantling barriers, enhancing inclusivity, and catalyzing economic progress with an emphasis on diversity and equity.
At the tail end of George Floyd and the start of the COVID pandemic, businesses across the country and in the region were privy to economic assistance to help sustain them, yet Black businesses were slipping through the cracks and missing out on much-needed financial and economic information and aid. In response, Franke teamed up with other like-minded individuals in the community and formed BOBE, a volunteer-powered 501(c)(3) entity founded in response to a community need for advocacy and access to resources, making a meaningful difference for minority businesses across Washington.
“How we got started was myself, Curtis Calhoun of Black Dot, BJ Stewart at Urban Impact, we joined forces; it was in the beginning of COVID, and right after George Floyd was murdered. And we discovered a lot of the Black-owned businesses that we were connected to were not aware of like PPP loans, other loans or any of the support that was being given from different government entities and local organizations,” says Franke.
“A lot of them were not connected to any financial institutions, were not getting information in a timely manner, a lot got information after the funds were depleted or the deadlines had already passed,” added Franke. “So, we decided to get together and start educating Black-owned businesses and creating this hub of resources that they can know about in advance.”
The partnership with BOBE includes the Seattle Public Library, Washington State’s Small Business Development Center, UW Foster School of Business, and various other civic and business entities alongside state and city government agencies dedicated to the progress of BIPOC businesses.
According to Franke, “these collectives aim to serve as a leading, trusted network for Black-owned enterprises in Washington State, joining forces with a variety of organizations to guarantee fair resource distribution and promote communal prosperity. Through united efforts and strategic alliances, they endeavor to provide businesses with essential resources, knowledge, and opportunities for growth and success, championing economic empowerment, diversity, and social justice towards a state where the promise of Black-owned businesses is fully acknowledged and celebrated.”
Franke’s holistic approach brings together “inclusive strategies with a steadfast dedication to community upliftment,” this approach has produced significant advances towards connectivity and equal opportunities for BIPOC-owned enterprises in the Puget Sound region. Franke, along with a devoted team, has dedicated innumerable volunteer hours to lead BOBE’s endeavors.
“BOBE is important because so many different organizations are operating in silos,” says Franke. “So, you have for example Black Dot which serves the Central District. You have the Tacoma Urban League and The Black Collective who are specifically serving the Tacoma and Hill Top area. But there is no organization that serves the entire state of Washington that is helping Black-owned businesses.”
“These silos have been created and the information has been gatekept, so there are entrepreneurs who are not connected because they may not be in the vicinity of certain agencies or organizations. With BOBE, our resources are available for everyone in Washington state, we are here to create a more equitable entrepreneurial ecosystem across the entire state of Washington,” she added.
As it relates to the award, Franke was nominated by Orlantha Coleman of the Minority Business Development Agency and Shana Barehand of the Washington State Department of Enterprise Services.
“Jenefeness Franke is the embodiment of economic development excellence, tirelessly working towards equality and opportunities for minority business owners,” says Coleman. “Her cooperative method not only enriches our business landscape but also lays down a blueprint for future generations of entrepreneurs. We are thrilled to acknowledge her outstanding contributions and anticipate the ongoing positive effects of her efforts.”
Franke will be formally recognized at the WEDA 2024 Winter Conference, an acknowledgment of her unwavering dedication and an inspiration for all who strive to create a more inclusive economic sphere.