Courtesy Gael Gallegos
Courtesy Gael Gallegos
On Dec. 11, African Community Housing and Development (ACHD) hosted the highly anticipated Generational Wealth Small Business Conference at the Ethiopian Community Center in Seattle. This event marked ACHD's largest gathering to date, building on past small business initiatives led by Abokor Isaak, Senior Manager of Small Business Support and ACHD.
The conference attracted over sixty small business owners and aspiring entrepreneurs, serving as a critical moment for both Seattle's small business community and ACHD. ACHD's mission focuses on uplifting the African Diaspora, Black, immigrant, and refugee communities in King County. Under the leadership of CEO Hamdi Abdulle and Vice President Bilan Aden, the nonprofit organization empowered small businesses in Seattle by providing practical insights through guest speakers, open discussions, and networking opportunities. The theme of the conference, "Generational Wealth," highlighted the significance of building assets that can be passed down through generations, a concept especially relevant in Seattle, where wealth disparities are closely tied to racial stratification.
The event was supported by the Seattle Department of Neighborhoods, which helped fund the gathering through the Generational Wealth Initiative. By fostering an environment where BIPOC individuals, immigrants, and refugees can access essential resources, networking opportunities, and support, ACHD aims to combat economic injustice and promote long-term prosperity.
Many of the micro-businesses represented at the conference are managed by BIPOC and immigrant communities. A common challenge identified by speakers and attendees is the duplication of businesses that require similar resources. While building a small business can feel empowering, the financial disparities rooted in racial discrimination and ethnocentrism create a scarcity of resources. This scarcity perpetuates the wealth gap. In addition, as several participants of the Generational Wealth Conference noted, there is a sense of distrust between communities, making collaboration difficult. Small business owners and entrepreneurs often hesitate to work together, further hindering progress.
"We've identified that many of our community businesses are micro-businesses and need more tailored support," said Zzaj Collins, Director of Philanthropy & Economic Development at ACHD. "This conference is designed to bring people together to focus on the specialized needs we've identified in our community. Many micro-business owners don't have the time to step away and strategize, so we're creating a space for them to do just that."
The conference aimed not only to discuss the dream of generational wealth but also to offer essential advice for small businesses to thrive. Most of the attendees were from BIPOC communities or were immigrants themselves. Sitting around round tables that filled the auditorium, about half of the attendees were small business owners, with the rest being prospective entrepreneurs. Some shared their challenges, from navigating the complexity of starting a small business to dealing with the issue of duplicate organizations in their respective industries.
Diana, a Latina and first-generation American researcher, expressed her hesitation about starting her business. She's considering importing coffee from Mexico, an aspiration she and her parents have nurtured for years. However, she found the path toward creating a business unclear, especially knowing that most of the responsibilities would likely fall on her shoulders.
"As a first-gen, you don't have the resources or connections," she said. "Events like this are so helpful for those who don't know where to start. I can see I'm not the only one here facing these issues, and I hope to connect and network."
Competing with larger corporations is a common challenge for small businesses. This pressure requires additional effort from owners and employees to stay afloat, but many small business owners, particularly those from immigrant communities, thrive by leveraging their unique cultural perspectives, innovative strategies, and a global approach to business practices. Small businesses are the heartbeat of American communities, especially within immigrant populations, who contribute significantly to the economy by establishing organizations that serve underserved populations.
A central theme of the conference was the need for greater collaboration. Collins stressed the importance of pooling resources and creating supportive systems within communities. "Culture should be a point of connection, not a barrier," she said. However, many attendees acknowledged that mistrust and competition between businesses within the same communities often prevent collaboration.
"The major issue we face as a community is the lack of sharing knowledge, communicating, and networking," said one business owner. "There's a lack of trust between cultures, even within the same community. We need to educate ourselves and understand that we can work together and not fear being taken advantage of. We must come together and collaborate."
"We must learn to not view tension negatively," Collins said. "Tension means we're fighting for cultural collaboration. We as a community must learn how to endure without throwing the big picture away. We need to have events like these to talk and educate each other. We have to know the needs and learn what the real issues are."
The conference featured a powerful moment when participants shared their names and business stories. For many business owners, this was an opportunity to step into the spotlight and connect with others. The power of community is undeniable, and networking at events like this can be a crucial turning point for small business owners.
"I am searching for my story," said Tamrat, a self-employed podcaster and former CEO, who
shared his story with attendees. "The art of narrating is distorted right now because of AI. I seek to create organic stories and share organic voices using the talents that I have."
Tamrat highlighted the importance of events like this one in helping individuals find their voice, connect with others, and build self-assurance.
"It's so easy to feel isolated," said Anthony, another attendee who works as a general contractor.
"A sense of community is super important, especially with the political backdrop that highlights our differences. The country feels so divided, but this event shows our ability as individuals to come together and collaborate."
Seattle's economy, while on the rise, does not necessarily include small business owners,
particularly those from BIPOC or immigrant communities. The Generational Wealth Small
Business Conference underscored how these community members are acutely aware of the challenges they face and how access to financial stability and opportunity is inhibited due to systemic issues in American society.
As the nation experiences a rise in class consciousness, events like this are more crucial than ever in empowering individuals to succeed both professionally and personally. It's time to educate, to build trust with community members, and to understand the realities of class division.
Only then can we take meaningful action toward eliminating these disparities, ensuring that future generations have the opportunity to live equitably.