The Dallas Black Chamber strengthens support for black businesses and nonprofits.

Black entrepreneurs have historically struggled to attract backers, as recently as 2020 receiving only 1% of the money sent by venture capitalists.

The Dallas Black Chamber of Commerce is working to change that. At Wednesday’s Leadership Conference for Black-Owned Businesses and Non-Profit Organizations, leaders from across the business world addressed more than 100 attendees about how they can create a better future for generations to come.

“We have to be careful and make sure we serve everyone, but I’d be remiss if I didn’t specifically focus on African American and brown business owners,” said Ahmed Ghori, chief economic development specialist and public information officer for the US Small Business Administration’s Dallas-Fort Worth District. He participated in a panel discussion about raising capital.

The compound annual growth rate for black founders is 7%, compared to 18% for non-black founders, according to an information technology Accenture 2020 analysis compiled by data-tracking website Crunchbase. Gore and his fellow panelists emphasized that resources are available to address the gap.

LaShaunda Pickett-Renee, vice president and managing director of TruFund Financial Services in Texas, tells business owners to be objective about their capital needs. Her company provides loans to small businesses and non-profit organizations to community development financial institutions. Unlike conventional banks, community development financial institutions are not regulated by the Federal Deposit Insurance Corporation.

Picket-René says the company asks for the same information as banks but looks at the package differently.

“We’re looking at who you are as a business owner, your experience, your connections and standing in the community … and how you create jobs and bring economic impact back to your community,” Pickett-Rene said.

Among those listening will be Tramonica Brown, founder and executive director of My Son, which launched in 2020 in the wake of George Floyd’s murder. Its mission is social activism, community engagement and civic engagement.

“We have a serious problem here,” Brown said. “This is a great note with business owners, educators, non-profit organizations.[We]go in and say, ‘How can we be more helpful?’ We must begin by saying.

Brown said Harrison Blair, president of the Dallas Black Chamber of Commerce, reached out to her to make sure her nonprofit had access to resources for the day’s events. She was excited to meet other black colleagues and hear stories from other entrepreneurs in Dallas.

Entrepreneurs were struck by a speech by Opal Lee, a Fort Worth woman known as the grandmother of Juneteenth. Lee opened her speech by greeting all the “young people” in the crowd because “if you’re not 95, you’re young.” She urged business owners to vote and be active in their states.

“It’s our responsibility,” Lee said. “Young people, know that I love you. Let’s do something as soon as possible.

Another discussion at the event – “Giving Back, Giving Black” – focused on philanthropy.

Jaren Smore, co-founder and CEO of Legends Do Live, which focuses on funding disadvantaged youth, said philanthropic leaders need to engage with community partners.

“I look at being very strategic about where I want to go and who I want to talk to,” Small said.

Tiara Tucker, founder and CEO of Tiara PR Network, tells entrepreneurs to keep listening and learning.

“I’m happy to have found a nonprofit, but I’ve expanded my thinking to think bigger,” Tucker said. “Think Big.”

Byron Sanders, president and CEO of Byron Sanders, which works on youth programming in the education sector, says nonprofits need to reframe their goals. Sanders said it’s important to remember that it’s not a nonprofit charity.

“I work at an impact organization that wants to change systems,” Sanders said.

The conference discussed social impact, restaurants, health and leadership. Dallas Mavericks CEO Saint Marshall was the keynote speaker.

Tucker ended one of his final speeches by thanking Lee.

“Let’s think about who has gone before us,” she told the audience. “Let’s think about who is behind us and make a difference. We don’t have to wait for anyone. We can create the change we want to see.