Just ahead of Black Business Month, numbers show highest level of new businesses in 20 years
- Jul 24
- 3 min read
Updated: Jul 28
New business is booming. According to the New York Times, there were 5.7 million new business applications started last year, the most in two decades of government tracking. Why? A University of British Columbia study says AI is making it cheaper and faster to get a business going.
Locally, the City of Minneapolis is hoping to further boost this entrepreneurial spirit with its annual Black Business Week, July 27 to Aug. 2.
“There is an energy in those rooms that is inspiring because business ownership is really important to a lot of people and showing that we value that as a city,” said Zoe Thiel, manager of the small business team for the City of Minneapolis. This is the sixth year for the city’s Black Business Week, timed just before Black Business Month in August.
“Sounds like it’s right up my alley,” said Jakesa Thompson, who launched her new business Happy Plate, just a month ago. “It’s a good way to get myself out there, showcase what I’m doing, meet new people and maybe sell a few cookies.”
Happy Plate offers allergy-inclusive treats. “I feel like allergy-friendly items are perceived as not tasting as good, so I focus on creating treats that taste as good, if not better than the traditionally made items.”
During Black Business Week, Thompson will have several opportunities to network and gather resources for her new business. She’ll also sample and sell her treats.
The timing is also good for Black businesses in Minneapolis affected by a drop in traffic during “Operation Metro Surge” earlier this year. “Everyone was impacted across the city and metro by the large-scale presence of federal immigration agents. People stayed home, they didn’t go out to eat and weren’t shopping as much,” Thiel added. She said Minneapolis’ East African community members were among the most impacted.
Black Business Week in Minneapolis officially starts with a kickoff summit on July 27 led by keynote speaker Sheletta Brundidge of ShelettaMakesMeLaugh.com. Brundidge’s address is titled, “Let Your WHY Build Your WEALTH”.
According to The Wall Street Journal, Black women like Thompson and Brundidge are starting new businesses in droves as the fastest-growing group of entrepreneurs in the country, with mature women, those over 50, driving the trend. Brundidge will give these new entrepreneurs what she feels is critical insight.
“I spent 26 years in marketing, and six years ago, I created my production and podcasting company,” said Brundidge. “I see small businesses having trouble telling their story. They’re not buying your lipstick, they’re buying your story.”
For Thompson, the story behind her business Happy Plate is as intriguing as the baked goods. She simply got tired of watching her three kids, who have allergies, get left out.
“We would get invited to family celebrations or birthday parties, and they couldn’t eat the desserts or treats because it wasn’t safe for them,” Thompson said. “I would observe them being left out, and it made me feel bad for them. I wanted to do something about that.”
Thompson is signed up for a series hosted by the Northside Economic Opportunity Network (NEON) for current and future food business owners to learn about licensing, resources and how to access NEON’s new commercial kitchen in Minneapolis.
“Because people have been so willing to share their resources with me, I’d like to pay it forward someday,” Thompson said. It seems the idea of supporting each other is widespread. “I’m grateful and excited to be a part of this week,” Brundidge added. “It’s my responsibility and goal to make sure we all succeed. I want to see my fellow founders doing well.”
To learn more about Black Business Week from the City of Minneapolis, check out the schedule of events at:
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