In a climate where Black entrepreneurship should be experiencing a renaissance, it’s instead under siege, as detailed in our recent exposé “Why Are They Coming for Black Entrepreneurship?“. This systemic undermining goes beyond economic encumbrance; it’s an assault on Black autonomy and wealth creation.
However, this backdrop of adversity set the stage for a revolutionary counter:
This historic summit, a brainchild of the Black Innovation Alliance (BIA) and analytics pioneer Plexus Information Services, Inc., marked a defiance against the tide. Plexus, led by visionaries Tayler J. James and Dr. Julia Locklear, joined forces with BIA to author the BLADE report, a beacon that cuts through the fog of prejudiced narratives surrounding Black businesses.
Post-BLADE Con, the landscape is one of introspection and resolve. This year’s BLADE Blueprint stands as a testament to what’s possible when focus and resources are channeled appropriately, even as support for DEI initiatives wanes and funding dries up. It’s a clarion call, emphasizing the urgent need to keep Black innovation at the forefront — not as a token gesture, but as a vital component of societal progress and equity.
This is some of what we learned from our survey of 893 Black digital entrepreneurs:
Black digital businesses are more likely to be profitable.
Digital business drives wealth creation with eighty-four percent of those surveyed reporting a positive net worth.
Black digital entrepreneurs within BIA’s extended network were more adept at securing venture funding at a whopping 23%.
Black Digital Businesses vs. American Businesses
Black digital businesses are quite resilient with 56% of them lasting five years or more compared to 45% of American businesses.
Age Demographics
Digital natives reign supreme with 76% of our participants identifying as Millennials and another 12% Gen Z.
This research underscores the potential of Black digital entrepreneurs, not only in establishing successful businesses but also in contributing significantly to narrowing the racial wealth gap. The findings highlight the importance of recognizing and supporting Black entrepreneurship within the digital sphere.
We invite you to delve into the profound insights of the BLADE report, a chronicle of resilience and a blueprint for thriving Black futures.
