Famed Black entrepreneur Madam C.J. Walker once said, “I had to make my own living and my own opportunity. But I made it! Don’t sit down and wait for the opportunities to come. Get up and make them.”
Madam Walker’s self-determination is a common sentiment among the many minority entrepreneurs we have in our community. Every day, I come across incredible business owners who have found a way to make something out of nothing. For businesses owned by minorities, women, 2SLGBTQ+ people, disabled individuals and veterans, they have faced unprecedented challenges in recent years due to the COVID-19 pandemic.
Here in Oklahoma City, we have been honoring the resilience and grit of minority entrepreneurs since 2019 through Minority Enterprise Development Week. Themed as “Open for Business: The Economy Starts with Us,” the fourth annual event will observe a full week of celebrating and spotlighting these minority businesses.
These businesses support our economy in ways that are not always acknowledged and OKC MED Week is an opportunity to highlight all that they bring to our city. By showcasing these business owners, hopefully it inspires many others to explore their entrepreneurial dreams while providing educational and networking opportunities to help these businesses access capital, and opportunities to build wealth and strengthen the economic well-being of our city and state.
According to EY’s Oklahoma City Community Economic Recovery & Resiliency Study, distribution of business ownership in Oklahoma City is not proportionate to the city’s racial population distribution. Black residents make up 13% of the city’s population but own only 2% of businesses, and Latino residents make up 21% of the population and own 5% of businesses. In general, businesses owned by people of color in Oklahoma City (and across benchmarks) have fewer employees and lower sales and revenue than those owned by white individuals.
The 2022 OKC MED Week will start with an award ceremony recognizing four outstanding businesses for their extraordinary achievements and present the inaugural OKC MED Champion Award to honor a leader who has gone above and beyond for our minority entrepreneurial ecosystem.
The weeklong celebration will play host to a series of networking events and a mix of virtual and in-person educational programming that will include topics of technology, marketing, legality, supplier diversity, access to capital, finance, e-commerce, cryptocurrency, cannabis industry and other programming with community partners. This year’s event will also overlap with Indigenous People’s Day in Oklahoma City and Hispanic Heritage Month. Most of these events will be broadcast on Facebook LIVE at OKC Minority Enterprise and on YouTube at Minority Enterprise Development OKC.
As Oklahoma City continues to look forward, it is important to remember the legacy and resilience of the thousands of minority business owners in our community who strengthen our economy. Whether it is the working mom, the immigrant entrepreneur, the Iraqi War vet or the fourth-generation Eastside resident that works to keep their businesses alive and thrive, our community has a responsibility that they each remain open for business.
OKC Minority Enterprise Development Week shines a light on underrepresentation in business ownership and provides educational and networking opportunities to help minority businesses access capital, resources and opportunities to build wealth.
Joanne M. Davis is executive director of Oklahoma City Black Chamber of Commerce. She is also an Air Force civilian retiree, previously serving as the Air Force Sustainment Center’s Small Business Director.
Original source can be found here.
