The Power of Black Small Businesses

As a small business owner, I have had the privilege of witnessing the incredible impact that black-owned small businesses can have on both local communities and the larger economy. In my years navigating the intricate landscape of entrepreneurship, I've come to appreciate the unique resilience and innovation that Black small business owners bring to the economic table. It's not just about transactions and bottom lines; it's about creating pathways for economic empowerment, narrowing disparities, and fostering a sense of community pride. I've seen how these businesses, driven by passion and a commitment to their communities, become beacons of hope and inspiration.

I’ve also observed far too many businesses who didn’t have the resources to adapt in times of crisis. Recessions and pandemics are hard on any business but I would argue even more so on Black and Brown businesses. Historically, these enterprises have navigated through economic downturns with remarkable resilience, despite facing disproportionately higher hurdles. The 2008 financial crisis and, more recently, the global pandemic have tested the mettle of Black and Brown entrepreneurs in unprecedented ways. Many of these businesses, often operating on thinner margins, faced heightened vulnerability, making it harder to weather the storm.

Growing Together means we as a community are making a concerted effort to learn and adapt to the ever evolving digital economy. Imagine a community where the warmth, charm, and character that define our people and our businesses extend seamlessly into the digital realm. Together, we will engage in dynamic brainstorming sessions, exploring creative ways to transcend physical boundaries and translate our unique narratives into the digital landscape. It's not merely about being sellers of products and services, it's about becoming masterful storytellers and digital merchants, weaving narratives that captivate and resonate with a global audience. This is how we do it:

Economic Empowerment Through Black Small Businesses
First and foremost, Black-owned small businesses are not just economic entities, they are pillars of empowerment within our communities. By creating job opportunities, fostering entrepreneurship, and contributing to local economies, we as small business owners play a crucial role in narrowing economic disparities and promoting financial inclusion. As a society, we must recognize and celebrate the resilience and innovation that black small business owners bring to the economic landscape.

The Ripple Effect of Economic Inclusion
Supporting Black small businesses goes beyond individual transactions. It creates a ripple effect that positively impacts the larger economy. When these businesses thrive, they hire locally, reinvest in their communities, and contribute to economic stability. By championing diversity and inclusion within the business sector, we pave the way for a more equitable and prosperous future.

The Importance of Continuous Learning for Business Owners
In the dynamic world of entrepreneurship, continuous learning is not just an option, it's a necessity. As a small business owner, staying informed about industry trends, technological advancements, and best practices is key to adapting and thriving in a competitive market. Embracing a mindset of lifelong learning positions business owners to make informed decisions that drive growth and innovation.

Fostering a Culture of Learning Among Employees
The success of any business is deeply intertwined with the growth and development of its workforce. As business owners, it is our responsibility to create an environment that encourages employees to embrace continuous learning. We must provide opportunities for professional development, training programs, and mentorship to empower teams to reach their full potential. A knowledgeable and skilled workforce not only enhances productivity but also contributes to the long-term success of the business.

Collaboration and Mentorship
Black small business owners can further strengthen their impact by fostering collaboration and mentorship within their communities. Sharing experiences, insights, and resources can create a supportive ecosystem where businesses can learn from one another and collectively overcome challenges. Though we may offer similar services or products, we have to see each other as a community and not competitors.

Black small businesses are not just contributors to the economy; they are engines of economic development, resilience, and innovation. As business owners, let us commit to continuous learning, adaptation to change, and fostering a culture of growth within our enterprises. By doing so, we not only ensure the success of our businesses but also contribute to the broader goals of economic empowerment, diversity, and inclusion.

Together, let us build a future where Black small businesses thrive, driving positive change in our communities and leaving a lasting legacy for generations to come. I encourage you to join our next “Grow Together”small business session[insert link] with Google’s digital coaches and gain the skills to grow your business.

By:
Garry Anthony Johnson
Founder + CEO, Paradise Express Ferry & Harlem Rocket
Chair, Economic Development for NAACP NY