Black Diamond Weekend, an event organized by Black Brand, the Black Chamber of Commerce in the Hampton Roads region, is helping to empower Black business owners by providing education and a platform for shopping. The event, now in its fifth year, was almost canceled due to the pandemic but was instead held virtually. The decision to proceed was fueled by a Federal Reserve Bank of New York study that revealed a 41% drop in active Black business owners during the pandemic. Blair Durham, the co-founder of Black Brand, emphasized the importance of community support for these businesses and encouraged entrepreneurs, despite the challenges of 2020, to continue their journey and look forward to a stronger 2021.
Introduction
From: WAVY By: Kara Dixon
Black Diamond Weekend
PORTSMOUTH, Va. (WAVY) — Black business owners and entrepreneurs are spending the start of the holiday shopping season learning about businesses and resources available to them in Hampton Roads. It’s the fifth year of Black Diamond Weekend — which is put on by Black Brand, the region’s Black Chamber of Commerce.
Challenges Faced by Black Business Owners
Blair Durham, who is the co-founder of Black Brand, says the organization decided to put on the event virtually this year, despite almost canceling it due to the pandemic. According to a study done by the Federal Reserve Bank of New York, the number of active business owners fell 22 percent with active Black business owners falling 41 percent and Latinx 32 percent. White business owners fell 17 percent, according to the study.
Support and Empowerment
Durham says that having this during a difficult year for many is important. “I’ve heard numbers as high as 50 percent for Black businesses that could potentially close for good as a result of the pandemic. Having something that not only provides education but also provides a platform for shopping particularly for a vulnerable business community — we felt it was something we needed to get behind,” she said.
Community Support
While the business community will lean on each other to use its resources to come out stronger, Durham says it’s also important for another community, their customers, to show support as well.
Conclusion
Sunday is the last day of the event and will focus on real estate. Durham hopes that those who attended, leave feeling empowered despite the toll 2020 has taken on many. “I want them to take away, ‘now is not the time to quit,’” she said. “What it means to be an entrepreneur is not ‘oh no, a pandemic. I’m going to get a job.’ It means ‘oh no. It’s a new problem to solve. Maybe this one is not working anymore but that doesn’t mean entrepreneurship isn’t my path.’” “We’re hoping they have everything they need to translate that into something positive, something stronger for 2021,” Durham continued.
Question & Answer
What is Black Diamond Weekend?
Black Diamond Weekend is an event organized by Black Brand, the Black Chamber of Commerce in the Hampton Roads region, aimed at empowering Black business owners by providing education and a platform for shopping.
How many years has Black Diamond Weekend been running?
Black Diamond Weekend is now in its fifth year, showcasing its commitment to supporting Black business owners and entrepreneurs in the region.
Why was Black Diamond Weekend almost canceled in 2020?
Black Diamond Weekend was almost canceled in 2020 due to the pandemic, but it was decided to proceed virtually to continue supporting Black business owners during a challenging time.
What motivated the decision to proceed with Black Diamond Weekend in 2020?
The decision to proceed with Black Diamond Weekend in 2020 was fueled by a Federal Reserve Bank of New York study that revealed a 41% drop in active Black business owners during the pandemic, highlighting the need for continued support and empowerment.
