Black-owned businesses have seen a massive spike in growth from 2012 to 2017. The businesses grew a remarkable 79 percent within that specific time frame. Furthermore, from 1997 to 2015, the number of businesses owned by black women has grown by an amazing 322 percent, making them the largest growing group of entrepreneurs at the time.
The Innovation Black Chamber of Commerce is an organization that fully understands this upward trend of growth, and they hope to support the growth of black-owned businesses further down the line.
The black community has always been a resilient group. The people have relentlessly strived to overcome the challenges that they have faced—even going so far as to change the systems that sustain these problems that they face. Innovation Black Chamber of Commerce is fully dedicated to supporting aspiring entrepreneurs and small business owners so that they may succeed in the business industry and ultimately help boost the economy.
The Innovation for Black Chamber of Commerce was established by founder and CEO Ronnie Russell when he noticed the importance of developing an economic platform to help the lower socio-economic communities and assist black-owned businesses in Killeen, Texas. He saw that the largest US Army installation in the world, Fort Hood, lacked a Black Chamber representation, and he wasn’t going to let that fly by.
The organization is on a mission to promote the economic development of business entities while strategically focusing on Black-owned, veteran-owned, and technology companies. The Innovation Black Chamber of Commerce hopes to foster a community that promotes economic independence and prosperity all across Texas. They are one of the leading providers of innovative technology-driven training that helps business owners from all walks of life. The organization is committed to preparing business leaders and entrepreneurs to maximize their competitive edge in the global market.
By continuing to provide premier education to business owners, they have managed to stimulate the economic development of the business industry and, in turn, have provided business advocacies that empower the black community. One such way of fostering the community comes in the form of its Holiday 5K Fun Run/Walk at Lions Club Park in Killeen, Texas.
Experts have predicted a 41 percent decrease in black-owned businesses as a result of the global pandemic. In contrast, only 17 percent of white-owned businesses will see a significant loss. By participating in the fun run, the community will be taking responsibility for its local commerce by taking literal steps for economic health in the IBCC Holiday 5K.
The event is part of an effort to raise funding for the Innovation Black Chamber of Commerce’s Black Business Grant. Black-owned businesses that are in dire need of financial assistance are encouraged to apply for the Black Business Relief Grant by applying at the organization’s official website.
Community residents and public servants alike will be joining in on the fun as a unified effort to raise funds. One hundred percent of the proceeds from the event will benefit the Black Business Relief Grant put up by the Innovation Black Chamber of Commerce.
With Ronnie Russell at the helm of the IBCC, they are looking to sustain the growth of black-owned businesses for the years to come. The Innovation Black Chamber of Commerce fully understands its social responsibility and aims to help others understand what the institution stands for. They are an organization that has provided vertical growth to businesses within the community, and they are looking to do more in the years to come.
To know more about the Innovation Black Chamber of Commerce, make sure to visit their official website.
