The Arizona Black Chamber of Commerce has started a program called “Impact 2025,” aimed at helping Black and minority-owned businesses secure bank loans and network.
To mark this year’s Juneteenth observance, the Black Chamber of Commerce invited dozens of entrepreneurs to discuss the future of Black-owned businesses and how to grow. Right now, only 16% of all Arizona businesses are Black-owned, according to a report from UCLA.
Teniqua Broughton is with the nonprofit State of Black Arizona, and says there is progress to be made.
"The best way we can move forward with our growing industries is to begin to partner with other individuals in other industries, people who can help us expand," said Broughton.
Broughton also says up to 5,000 more Black-owned businesses are needed in order to reach parity in Arizona.
