RICHARDSON, Texas — There has been a surge in Black entrepreneurship across the U.S. The most recent data from the Pew Research Center showed an increase of more than 70,000 Black business owners from 2017 to 2022.
Despite that milestone, some say the current political environment and the economy have led to some challenges.
Shortly after the doors of Fusion Vibes Kitchen and Lounge opened for business, the challenges came pouring in for owner Will Aiyeogenku.
The restaurant, located in Richardson, is just one of five businesses he has been juggling for more than two decades.
“I mean the six years for the business has been a roller coaster due to the unstable economy. You’re talking about loss of income, people’s jobs, a lot of people have lost jobs, new industries, also not being able to hire quality staffing is really one of the biggest issues,” said Aiyeogenku.
He had an even bigger issue on his hands in 2023.
“Business went up in flames. It was one of the worst ever in my life. I’m a very, very tough individual, takes a whole lot for me to cry. And imma be honest with you, I was shedding tears like a baby,“ Aiyeogenku said.
That same year, those tears of pain turned into tears of joy.
“After the Lounge burned down and we struggled from sales, Black on the Block literally reignited the business back up for us. We made a single-day sales of almost $14,000,” said Aiyeogenku.
Since 2021, sisters Lanie and Char Edwards have been spotlighting Black-owned businesses through Black on the Block, a community-driven culture festival.
“We are business owners ourselves, and we found that the visibility wasn’t there for Black-owned businesses. And a lot of people were looking for Black-owned businesses to support,” said Lanie Edwards, co-founder of Black on the Block.
So, they decided to start their own event and put the power in their own hands.
The Edwards sisters started the movement in California and then two-stepped their way into North Texas two and a half years ago.
“It’s definitely grown tremendously since our last one. Definitely outgrew Frisco, so that’s why we had to keep moving around,” said Char Edwards.
“Dallas is definitely our top market, it even surpassed LA, where we started. Our first event actually did really well, we did 3,000 people in Frisco. It’s now grown to 10,000 in Arlington,” said Lanie Edwards.
The event returned to Globe Life Field on Sunday for the second time this year, despite the challenges they said their community has faced in 2025.
“Even from other event organizers…even when it comes to sponsorships or support from larger companies, we’ve all definitely seen a decrease because of the whole DEI situation. Even beyond the small businesses that are taking the hit, even as us as event organizers, there’s definitely been a night and day difference between last year and even the years prior and this year, but we’re still going no matter what,” said Lanie Edwards.
And so are other business owners.
“Honestly, the growth of Black entrepreneurship lately has been one of the most inspiring trends in business,” said Patrick Soleymani, associate professor of management at George Mason University.
Soleymani said over just the last few years, the number of majority Black-owned firms has jumped by almost 60% post-COVID. They have gone from about 2% to over 3% of all U.S. businesses.
“It’s not just more businesses. The businesses themselves are thriving. Revenues up around 66%, and together these Black-owned businesses now bring in more than $200 billion a year and employ over 1.2 million people,” said Soleymani.
From fires to financial strains, Aiyeogenku said the fact that he was able to open his restaurant in 2020, during the height of the pandemic, and keep those doors open now is a success story in itself.
The Small Business Administration reported $1.4 billion in loans to Black-owned businesses last year — more than double what it was at the start of the pandemic.
