This article is written and sponsored by Arlington Economic Development.
February is Black History Month, and this year the Small Business Coordinating Council will spotlight the State of Black Entrepreneurship with three dynamic speakers: Eric Alston and William Mitchell of WACIF, and Darin Cox, owner of The Peach Cobbler Factory in Washington, D.C.
Over the past decade, the growth of Black-owned businesses has been remarkable. Between 2017 and 2022, the number of Black-owned employer firms rose 56.9%, adding more than 70,000 new businesses. In 2022 alone, these firms generated $212 billion in revenue and paid $61 billion in salaries. Black women continue to lead the nation in business creation, driving a 71.6% increase in black-female–owned firms during that same five-year span.
But despite this momentum, black entrepreneurship is at a pivotal crossroads. Innovation and new business formation remain strong, yet recent federal rollbacks, tighter capital access and shifting corporate commitments in 2025 have created new challenges. Among the most significant setbacks:
- Federal support for disadvantaged businesses declined sharply, jeopardizing an estimated $10 billion to $15 billion in annual resources for black-owned firms.
- The Minority Business Development Agency (MBDA) faced efforts to dismantle it, undermining a key source of long-standing business support.
- Reduced funding for Community Development Financial Institutions (CDFIs) further limited access to affordable capital which had already been a barrier for many black-owned firms.
With higher barriers to financing and fewer federal procurement opportunities, local initiatives now play an even more critical role in building an inclusive economic ecosystem.
Contact Prakriti Deuja at [email protected] to get more info on joining us in person or online on Feb. 11, 2026, at 10:00 a.m. for this timely discussion. Learn how local communities are stepping up to support one of the fastest-growing segments of entrepreneurs — and how you can be part of that progress.
