The Mass Black Expo 2024, set for October 25-26, 2024 at the Boston Convention and Exhibition Center has grown to become a vital platform for bringing together and supporting Black-owned enterprises across Massachusetts.
Organized by the Black Economic Council of Massachusetts (BECMA), the Expo aims to foster economic growth, provide networking opportunities, and promote equity for Black businesses.
This will be the 6th edition of the annual event.
The Expo offers an unparalleled opportunity for entrepreneurs, business professionals, government officials, and advocates for economic justice to connect with movers and shakers in black entrepreneurship across the state.
The importance of the Mass Black Expo
The Expo was created as part of BECMA’s mission to combat systemic economic inequality in the Commonwealth. Even though Massachusetts is home to more than 700,000 Black residents (10% of the total state population), Black-owned businesses often face greater challenges accessing capital, gaining visibility, and expanding their networks.
For many Black entrepreneurs, the Expo is an essential resource for overcoming these hurdles. It’s a ton of resources and key people all under one roof for three intense days.
In past events, speakers like Earn Your Leisure‘s Rashad Bilal and Troy Millings have shared strategies for building generational wealth, underscoring the importance of financial literacy and business acumen in achieving long-term success
The event also showcases the strength and diversity of Black businesses in Massachusetts, offering a forum for discussing how to build a more inclusive and thriving economy.
It’s an important part of statewide efforts to close the racial wealth gap, a problem that costs the U.S. economy $300 billion annually, according to a Brookings Institution study.
Black business statistics and economic impact
Nationally, Black-owned businesses continue to grow, but they face systemic barriers. The U.S. Census Bureau reports that there are over 134,000 Black-owned businesses across the country.
Despite this, Black businesses often struggle to secure the capital needed for expansion, and they were disproportionately impacted by the COVID-19 pandemic, with closures occurring at twice the rate of non-Black businesses during that period
The Expo addresses these issues head-on by offering resources like workshops, mentorships, and funding opportunities that can help Black businesses not only survive but thrive in today’s economy.
Why Western Massachusetts businesses should attend
For Black-owned businesses and other businesses interested in supporting black-owned businesses in Western Massachusetts, attending the Mass Black Expo is particularly crucial.
The Expo provides a chance to connect with peers, investors, and resources that are often concentrated in the eastern part of the state.
It also helps business owners from Western Massachusetts tap into state-level initiatives like the Commonwealth Economic Empowerment Fund, which allocates funding to minority-owned enterprises.
At the Expo, businesses can participate in workshops on sustainable practices, digital marketing, and financial management—skills that are vital for long-term success.
Exhibitors in the Black-Owned Pavilion also have the chance to showcase their products and services to a broader audience, gaining visibility in a way that may not be as readily available in local markets.
A path toward economic empowerment
Supporting Black-owned businesses is key to closing the racial wealth gap and boosting the broader economy. According to BECMA, fostering an inclusive economy can add billions to the U.S. GDP. The Mass Black Expo serves as a platform where businesses can gain the skills, networks, and resources necessary for success, ensuring that Black entrepreneurs are part of that larger economic growth
By attending, businesses not only support their own growth but also contribute to a statewide effort to foster an equitable economic future. For entrepreneurs in Western Massachusetts, this event is a chance to be part of a community working toward sustainable economic empowerment and inclusion.
Mark your calendars for October 25-26, 2024, and take the next step in building a stronger, more inclusive business community in Massachusetts.
All photos & video courtesy of Black Economic Council of Massachusetts.
CONTRIBUTOR
Inc413 News Team
The Inc413 news team compiles business stories from across Western Massachusetts and beyond. Our primary focus is on stories that have an impact on small businesses, entrepreneurs, and the people they employ.
