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Bridging the Gap – Social Impact Report 2020

So, inevitably, they are trying to BBI Press
scale and get off the ground as
leanly and with as little front-end
expenses as possible.” One real- Round-Up

world consequence of this is that
new Black-owned businesses are
often not getting good legal counsel Miles & Stockbridge Brings
at the critical time of launch—if on Scores of New Minority
they are getting any legal counsel
at all. “It’s eye-opening,” July Clients After Launching

relates. “I’m seeing people who Diversity Initiative
could be successful, but the cost
of good legal counsel that could BALTIMORE BUSINESS JOURNAL
be the difference between success
Robert Wells, a principal in the firm's Health Care
and failure is prohibitive for them. Practice Group and co-leader of the Miles Minority

Not only that, they sometimes end Network, discusses the Miles & Stockbridge Black
up handicapping themselves by Business & Start-Up Initiative in this Baltimore
agreeing to bad contracts that take Business Journal story. Through the initiative, the law
advantage of them, and make their firm has brought on 43 minority-owned businesses as
situation even more dire. They’re new clients and is providing introductory legal counsel
not taking off—they’re digging out at no cost or a reduced cost and helping to eliminate
in their wake, however, served as looking for a way to serve our we are good at.” Based on the of a hole.” or temper some of the barriers uniquely experienced
by Black entrepreneurs and businesses.
a catalyst toward crystalizing ideas community in way that made a conversations he was having
that had been ripening in his mind tangible, positive impact.” in the community, July also With the deep resources of Click here to read the full article. Login may be required.
for some time. understood that there is an Miles & Stockbridge behind him,
“I think sometimes the right inherently economic element to July saw a clear opportunity.
“I had been listening to the answer is to meet the moment social justice—which was a place “When I asked how we can be the Miles & Stockbridge Vows
people around me for a long where you are, without reinventing where the firm could certainly most useful and effective to Black to Help Black Businesses
time—bright, ambitious people the wheel,” he continues. “Miles step in. businesses, I saw the answer Pro Bono
looking for advice and help getting & Stockbridge is a corporate law in bridging that gap between

started,” July says. “After the firm, a collection of gifted people “First of all, minority potential and economic viability.” LAW360
events of the summer, I, like a lot with particular skill sets. If we businesses are woefully under- Working with other leaders across
Venroy July was interviewed by Law360 about
of people—including colleagues are going to make a difference, funded nationally. A pittance the firm, including firm Chairman
the initiative.
from across offices and practices, I understood and understand it of venture capital in the United Nancy Greene, the idea of a bridge
as well as firm leadership—was will be by doing what we know States goes to those companies. developed into the Black Business & Click here to read the full article published by Law360.

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