California Black Chamber of Commerce Hosts 28th Annual Economic Business Summit

On November 7th, the California Black Chamber of Commerce celebrated its 28th Annual Economic Business Summit at the DoubleTree by Hilton. This year’s event was anchored by the theme of “Build Scale Grow,” a new initiative aimed at empowering small business owners with essential tools, technology, and confidence to thrive in a competitive economy.

Empowering Small Businesses

The summit featured a dedicated session focused on navigating bidding processes for Caltrans and Department of General Services projects. The evening culminated with an awards dinner, highlighted by a keynote address from California Secretary of State Dr. Shirley N. Weber.

Jay King, the chamber’s president and CEO, stated, “At the California Black Chamber of Commerce, our mission is clear — to serve as the leading voice and trusted resource for small business owners from every community.” King emphasized the importance of placing small businesses at the forefront of California’s economic recovery.

Historical Context and Resilience

Beyond the vibrancy of the summit, underlying historical narratives of racial inequality were also acknowledged. Segregation disproportionately affected Black communities, restricting access to financial institutions and resources. In response, these communities built self-sufficient economies through barbershops, insurance firms, theaters, and restaurants. Neighborhoods like Tulsa’s Greenwood District and Durham’s Hayti thrived, demonstrating significant wealth circulation within Black ownership.

“When we were segregated, our dollar circulated in our community up to 100 times,” King highlighted. “What we’re doing now is reclaiming that same economic power through knowledge and capacity.”

Overcoming Systemic Barriers

The legacy of events such as the 1921 Tulsa Race Massacre and ongoing redlining policies has contributed to the significant challenges that Black-owned businesses face today, a sentiment echoed by King. He remarked, “Our government was purposeful in destroying the foundation of Black business. Now we’re being purposeful in rebuilding it.”

Modernizing business practices is critical, as mentioned by King, noting that many Black-owned firms are lagging in technological adoption. The Build Scale Grow program aims to address this gap, enabling businesses to not just survive but expand.

Keynote Address by Dr. Shirley N. Weber

In her keynote speech, Dr. Weber shared her journey from growing up under segregation to achieving one of the highest offices in the state. She addressed the systemic obstacles that have historically hindered Black entrepreneurs from accessing contracts. Dr. Weber is dedicated to dismantling these barriers by increasing access to information and resources for minority-owned businesses.

“Everything is taken from us lately, even food. Are you as strong as your ancestors? It’s not the time to get weak-kneed and confused. It’s time to stand up for what we believe in,” she urged the attendees.

Supporting Small Business Formalization

Angela Lowe, the Chamber’s CEO, emphasized the need for entrepreneurs to legitimize their businesses. “Stop calling your business a hustle. Legitimize it. Get your EIN, get your business structure,” she advised. This formalization is essential for accessing contracts, securing loans, and gaining long-term recognition.

Lowe’s call highlights a fundamental goal of the chamber: to help small business owners protect their work while transitioning from informal to formal operations.

Celebrating Small Business Success

Among the honorees at the summit was Shawn Raiford, founder of SRE Transportation Services, focused on providing rides for seniors and disabled individuals. Raiford expressed gratitude for the recognition, stating, “Where else do we hear about little companies like mine? This summit helps us get seen.”

Conclusion: A Narrative of Resilience

The Economic Business Summit served not merely as a platform for economic discussion but as a testament to the resilience and adaptability of Black entrepreneurship. With 96% of the businesses being sole proprietors earning under $100,000 annually, there lies an immense potential for growth. King concluded, “When we grow, we don’t just change our community; we change the economy.”

Awards and Recognition

The summit also recognized trailblazers and numerous community leaders, including:

• Humanitarian Award: Dr. Shirley N. Weber
• Community Activist: Najee Ali
• Top Partner Recognitions: Amazon, StubHub, Tri Counties Bank, and Wells Fargo

The work initiated during this summit illustrates a broader movement towards rebuilding Black economic power—fostering not only community independence but also contributing significantly to California’s economy at large.

For more insights on the challenges facing Black entrepreneurs, visit Smithsonian Magazine and Federal Reserve History.

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