In the early 1900s, black businesses thrived out of necessity. As times changed and attitudes change, people found there were more options available. By the 1970s once thriving businesses were shuttering their doors.
Fast forward to 2019, and we see a resurgence in black entrepreneurship. An uncertain financial future is changing the landscape, and more people are looking to control their destiny.
The business you want and the financing to get it is waiting for you. Continue reading for five inspiring black businesses taking off in 2019.
1. Vegan Soul Food Restaurant
Vegan cuisine has been slow to take hold in the black community. That was until African American entrepreneurs saw a need and decided to address it. Today, there is a niche market for chefs who have discovered ways to create traditional soul food dishes using plant-based ingredients.
In a climate where people are looking for something entirely different, business-minded individuals are taking a leap of faith.
2. Black Businesses for Event Production
Today, people are leaving their brick and mortar establishments and bringing their products and services to the people. This shift has opened the door for creatives to help influencers create the perfect atmosphere.
Event centers are popping up everywhere, so to keep up, hotels are renting their event spaces and allowing leasees to bring in their own teams. This, in turn, created a widening market for event planners, designers, and production crews.
Businesses can land a contract with a big brand hotel or convention center and significantly increase their revenue potential.
3. Food Delivery Services
Food delivery services are popping up everywhere. Sadly, it is not uncommon for some services to prohibit delivery to areas they deem unsafe for drivers. A growing trend in black entrepreneurship is to fill that void.
Young black men are taking food to the hood when others won't. Residents respect their hustle and support the businesses.
4. Beauty Industry
Black women spent $54 million in 2017 on black hair-care alone. So why shouldn't more black entrepreneurs own beauty related companies?
Beauty supply stores have long been dominated by non-black business owners. That trend is changing as people of color recognize that this is one industry that is reaping the benefits of black consumer dollars.
5. Turning Creativity into Income
The creative class is upon us. If you can think it, someone will pay for it. Creatives are not just people that sing, dance, act or paint. They are people that use their creative energy to produce results by introducing a new way of seeing and doing things.
Freelancers are flourishing in every aspect. Whether it is technology, branding, marketing, or content creation black businesses are tapping into unchartered territory. The best part, it is creating new entrepreneurs every day.
Is Your Entrepreneurship Spirit Ready to Soar?
Black businesses experience the same struggles and rewards as any other business owner. A great business plan, cash flow, and passion-driven determination are the keys to success.
We are looking for entrepreneurs from all walks of life that are ready to go to the next level. Check-out our investment process to see if we are a right fit for your dreams.