Black Business Legacy in Pasadena: Challenges and Opportunities Persist

As Black Business Month concludes, Ishmael Trone, a second-generation Pasadena African-American entrepreneur, offers insights into the enduring challenges and emerging opportunities for Black-owned businesses.

Trone, CEO/President of F&M Business Center and Unyque Financial Realty, comes from a family of trailblazers. 

“My parents started the company in 1969. They were the first African-American bail bondsman in the city of Pasadena,” he said.

In 2000, Trone purchased his parents’ operations and transitioned the business into tax and real estate services.

Trone sees familiar hurdles for Black businessmen and women persisting across generations.

“I believe that the challenges are pretty much the same today as they were when my parents started,” Trone said. 

He identified two main obstacles: lack of access to capital and preconceptions about neighborhoods.

Elaborating on financial challenges, Trone explained, “There is still a disproportionately small amount of venture capital and bank loans that we are still struggling to go after compared to white counterparts.”

The negative perception of Black neighborhoods as dangerous further compounds these issues, Trone said. This perception makes it difficult for Black-owned businesses to start, expand, and sustain operations in these areas.

Recent national events, however, have sparked positive changes, he said.

“Especially since the George Floyd Floyd Tragedy, I’m seeing early stage Black entrepreneurs obtain the necessary capital needed to execute their visions and compete in today’s market,” Trone said.

He also noted that younger Black entrepreneurs are more educated and better equipped to navigate business challenges. These developments signal a potential shift in the dynamics of African-American businesses.

Looking ahead, Trone predicts changes in Pasadena’s Black business landscape. He foresees a decrease in Black-owned storefronts but anticipates growth in online and social media-based businesses run by Black entrepreneurs.

This shift is partly due to the declining Black population in Pasadena and the high costs of operating traditional businesses in the city.  Trone sees significant opportunities in the digital space for Black entrepreneurs.

For aspiring Black entrepreneurs, Trone advises them to stay educated, engage in the community, and exercise self-discipline in business practices. He stresses the need to adapt to rapidly changing business policies and leverage technology for success.

Trone emphasizes the importance of community engagement for business success. His own experience includes volunteering and participating in local organizations like the Pasadena Chamber of Commerce. These activities helped him gain exposure, build a reputation, and ultimately grow his business.

Nationally, Black-owned businesses account for approximately 10% of all U.S. businesses, translating to about two million companies. The COVID-19 pandemic has spurred a resurgence in Black entrepreneurship, especially among Black women.

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