ROCKFORD — August is black-owned business month and business owners in the Stateline are coming together to help one another connect and grow.
Business First Fridays is helping independent organizations who are committed to supporting black-owned businesses get together to learn more about the industry and support one another.
Lakhila Tellis, owner of nonprofit Iconic Nurse Network Outreach, says she wants to help educate and support entrepreneurs like herself.
“The great part is you have a room full of people who know what you’re going through, so it’s a support system, it’s an education system, and it’s a fun way to get away from the hustle and bustle of being in business,” says Tellis, Iconic Voice LLC Owner.
The Illinois Department of Commerce & Economic Opportunity is presenting data about the state of Black Business in Illinois.
According to a 2019 survey, 14 percent of Illinois’ population is black, with 11 percent of all businesses in Illinois being black owned. But just 2 percent of them hire other workers.
Matt Simpson, with IL DCEO Office of Minority Economic Empowerment says, “Black businesses grow, they tend to hire those in their community, resolving employment issues; they tend to invest in development in neighborhoods that need the most support.”
Denezz Hyphenx Cochran, Creative Director and Author says while Rockford is on an economic rise, growing a business can be a challenge.
“To be a successful business owner is fine, but to be a successful owner that’s able to employ other black people is vital to the economic success of that sector here in Rockford,” he says.
Cochran adds only a small percentage of money spent by the black community goes back into the black business community, and says investing more in black owned businesses could create solutions.
“I believe if we can get more of that money to come back into black businesses that give back to the black community that a lot of our systemic issues will start to fizzle,” he adds.
Business First Fridays is held on the first Friday of every month at Stephenson Business Service Center 730 N. Church St Rockford, IL.
To get involved, you can email Denezz Cochran dcochran06@gmail.com.