Charlotte Hosts First Economic Symposium to Empower Black-Owned Businesses

Charlotte’s Inaugural Economic Symposium to Support Black-Owned Businesses

In the heart of Charlotte, an exciting initiative is on the horizon aimed at stirring up growth and opportunities for local Black business owners. The first-ever 2024 Economic Symposium is slated to take place on October 8, and it promises to be a vibrant gathering of entrepreneurs and resource providers. Hosted by ASPIRE Community Capital, a local nonprofit dedicated to empowering underserved entrepreneurs, this event is one you won’t want to miss.

A Focused Theme

The symposium is aptly titled “Bridging the Gap: Access, Equity, and Growth for Black Businesses in Charlotte”. The event will unfold at The Ruth, a full-service venue located at 2122 Thrift Road. ASPIRE’s CEO, Manuel Campbell, shared his aspirations for this gathering, expressing that they are “not just hopeful but optimistic that the symposium will result in executable solutions that will significantly contribute to the success of Black businesses in Charlotte.”

Understanding the Landscape

The stats surrounding Black-owned businesses nationwide and particularly in Charlotte are quite telling. Currently, only 2.7% of all businesses in the U.S. are Black-owned, with Charlotte seeing a slightly higher rate of 5.3%. Despite these numbers, the challenge persists, as Black business owners often face tougher hurdles in securing traditional financing. Recent data indicates that only about 32% of Black business owners are fully approved for loans, contrasting sharply with 56% approval for white-owned firms. Alarmingly, 40% of Black-owned businesses face denial for financing, compared to only 18% for white-led companies.

Panel Discussions Designed for Action

The symposium will feature three insightful panels tackling the barriers confronting Black businesses and discussing their bright future. Each panel is set to dive into essential topics such as:

• Unlocking capital, mentorship, and resources
• Creating sustainable growth
• Honoring successes and shaping the future

At the end of each panel, participants will have the chance to engage in tablet discussions, sharing thoughts on how to leverage the resources available for growth and reflecting on their entrepreneurial journeys. Campbell emphasized, “These talks are not just about listening, but about actively engaging in a conversation with fellow attendees.”

A Vision for the Future

One of the key hopes from this initiative is to establish the Economic Symposium as an annual event. Campbell envisions this platform becoming a go-to space for highlighting the issues affecting the Black business community in Charlotte. “We anticipate more collaboration among resource partners and stakeholders within the Black business community, ensuring that business owners will have the access and resources they need to be successful,” he stated.

Join the Conversation

Whether you’re an entrepreneur, a stakeholder, or just someone interested in supporting Black-owned businesses, this is your opportunity to meet like-minded individuals, learn, and share insights. Workshops, discussions, and networking are just a few ways to connect during this important event.

Final Thoughts

Mark your calendars for October 8 and get ready to be part of a significant movement in Charlotte. This symposium not only seeks to tackle tough questions but also to create a pathway toward lasting change for Black entrepreneurs in the region. Don’t miss the chance to contribute to this important conversation and help pave the way for a more equitable business landscape.