The Untapped Power of Community: How Black-Owned Businesses Are Redefining Scale in the Age of AI
For decades, the narrative around scaling a business has centered on venture capital, disruptive technology, and rapid expansion. But a quiet revolution is underway, fueled by a renewed focus on community, strategic resource utilization, and a pragmatic approach to growth – particularly within the Black entrepreneurial landscape. At the 2025 ESSENCE Festival of Culture, a panel featuring entrepreneurs Carrita Tanner-Cloud and Iam Tucker, alongside Louisiana Economic Development (LED) representatives, illuminated a path to scaling that prioritizes access, collaboration, and leveraging often-overlooked support systems.
The Hidden Resources: Unlocking Government Support
Stephanie Hartman and Shamela Pete of LED made a compelling case: existing programs designed to aid small businesses are drastically underutilized. “All of the support and resources we offer are underutilized,” Hartman emphasized, highlighting the need to bridge the gap between available assistance and the entrepreneurs who need it most. LED offers a suite of credit enhancement programs, including the State Small Business Credit Initiative (SSBCI) – providing microlending for startups – a collateral support program, and a small business low-in-guarantee program. These initiatives aim to mitigate the common barriers to funding faced by many small business owners. The key takeaway? Knowledge is power, and actively seeking out these resources can be a game-changer.
Beyond Funding: The Power of Peer Networks
While capital is crucial, the panel underscored the equally vital role of community and networking. Iam Tucker, president of Integrated Logistical Support, Inc., a female and minority-owned civil engineering firm, lauded LED’s CEO roundtables. “The CEO roundtables with LED really help to put you in the same room with people of different types of businesses and to understand that you’re not on an island,” she shared. These roundtables aren’t just about problem-solving; they’re about recognizing shared challenges and building a support system. This echoes research from the Harvard Business Review, which consistently demonstrates the positive correlation between strong networks and business success. The Power of Networks in Getting Ahead
From Closet Startup to NFL Client: The Grit of Entrepreneurship
Carrita Tanner-Cloud, founder and CEO of Creativity Justified, offered a raw and relatable account of her entrepreneurial journey – starting her advertising and graphic design agency “in a closet, seven months pregnant.” Her story, now encompassing clients like the NFL, NBA, and Microsoft, is a testament to perseverance and the power of research. Cloud discovered LED’s resources through diligent investigation, emphasizing that while these programs often don’t require financial investment, they *do* demand a time commitment. “You don’t have time not to,” she asserted, a sentiment that resonates with the relentless demands of entrepreneurship.
Networking as a Strategic Imperative: Building Trust and Reciprocity
Both Tucker and Cloud consistently emphasized the importance of networking, but not simply attending events. It’s about building genuine relationships based on trust and mutual benefit. Tucker’s advice was particularly pointed: “People don’t do business with businesses; they do business with people they trust.” She advocated for actively seeking out connections within your industry, learning from others, and, crucially, building a collaborative network of like-minded individuals. Cloud added a layer of nuance, suggesting a mindset of service: “What can I do to serve while I’m here?” This approach fosters reciprocity and opens doors to unexpected opportunities.
The AI Inflection Point: Adapting to a Tech-Driven Future
The conversation took a forward-looking turn with a discussion of artificial intelligence. Both entrepreneurs agreed that embracing technology is no longer optional. “We’re in an environment that is so tech-heavy right now that if you’re not leaning into AI and leaning into technology, you will be left behind,” Cloud warned. This isn’t about replacing human capital, but about augmenting it. Tucker echoed this sentiment, advocating for maximizing the skills of existing staff and finding innovative ways to leverage technology to increase revenue. This aligns with a recent McKinsey report indicating that AI adoption could add trillions of dollars to the global economy by 2030. The Economic Potential of Generative AI
The Rise of the “Micro-Multinational”
The strategies discussed at the ESSENCE Festival point towards a new model of scaling – one that doesn’t necessarily require massive investment or rapid expansion. Instead, it’s about building a resilient, interconnected network of businesses that can leverage each other’s strengths and resources. We’re likely to see a rise in what could be termed “micro-multinationals” – small businesses with a global reach, powered by technology and fueled by strong community ties. This model is particularly well-suited for Black-owned businesses, which have historically faced systemic barriers to traditional funding and growth.
The message from New Orleans is clear: scaling isn’t just about *what* you do, but *who* you do it with. It’s about recognizing the power of community, embracing available resources, and adapting to the rapidly evolving technological landscape. The future of small business isn’t about going it alone; it’s about building a collective force for economic empowerment.
What strategies are you employing to build community and leverage resources for your business? Share your insights in the comments below!
