reSURGEnce Conference empowers Black businesses

The reSURGEnce movement held its third reSURGEnce Conference of the year last week in Jamaica, Queens, bringing together entrepreneurs, business leaders, and advocates to continue its mission of fostering and empowering global Black business exchange and entrepreneurship.
The three-day event featured several keynote speakers who shared their advice for business owners, including New York Senator James Sanders and regional director for the U.S. Small Business Administration (SBA) Marlene Cintron. Attendees also participated in breakout sessions for more intimate and tailored discussions on topics related to Black entrepreneurship. Rev. Dennis Dillon, researcher, publisher of the “New York Christian Times,” and chief convener of the reSURGEnce Conference, said the goal is to provide Black businesses with the tools they need to thrive and to tackle the widening wealth gap affecting Black and Brown communities.Musa Mbhele, city manager of Durban, South Africa, speaks at 2024 reSURGEnce Conference (Photo credit: Duane Knight) Credit: (Photo credit: Duane Knight)Reverend Dennis Dillon with Public Advocate Jumaane Williams and attendees at 2024 reSURGEnce Conference (Photo credit: Duane Knight) Credit: (Photo credit: Duane Knight)“Economic State of the Black World” report, published by “New York Christian Times” at 2024 reSURGEnce Conference (Photo credit: Duane Knight) Credit: (Photo credit: Duane Knight)“We’re just motivated to say ‘Listen, it’s time we really push hard to give Black businesses the access that they need,’” Dillon said. “We kick this off around access to capital, access to governing corporate contracts, access to the global marketplace, as well as the Black consumer market, and certainly access to dealer opportunities and franchising opportunities.”
According to Dillon, the biggest challenge Black businesses face is access to capital. He emphasized that the issue isn’t a lack of resources but rather the difficulty in securing approvals and receiving financial support. According to the “2024 Economic State of the Black World Report: Global Edition,” published by the “New York Christian Times,” Black people receive the smallest share of loans — significantly below their population representation. The report highlights that in 2023, Black businesses received 4.3% of guaranteed SBA loan approvals, while White businesses received 67.8% and Asian businesses received 14.7%.“It’s just unfair. The imbalance is just unreal,” said Dillon. “Asians are getting loans from the SBA [and] as the report points out, the number is much higher than their population. Whites are getting loans from the SBA that are equivalent to their population. Blacks are getting loans from the SBA that are way below their population. These are numbers that we obviously have to fix, and as the report points these things out to us, it’s strengthened our resolve that we really have to do more to break this economic stranglehold.” The recently released report, which examines the economic racial divide across the African diaspora, spanning regions from the United States to Africa, served as a cornerstone of the conference. Musa Mbhele, city manager of Durban, who has worked closely with Dillion to foster a bicontinental collaboration, said it’s important for Black businesses to lift each other when possible.“If I’ve had a good opportunity myself to make it through this difficult ladder of economic deprivation, then I need to ensure that I pull up my fellow Black people as well,” he said. “What tends to happen is that once people reach up there, they forget that they’ve left their own fellow black people languishing and struggling to make it in the economic ladder.”Focusing on the need for policy in addressing disparities, Dillon said, “Some of our people are in the influential positions in the institutions that make decisions that impact the economy of our countries, and we always have to also try to influence [policies] for the benefit of our people.” Dillon takes pride in the grassroots efforts of the reSURGEnce movement, which has hosted the conference in South Africa, Mozambique, and New York in the same year, illustrating their goal to create what he called the “Global African Economic Renaissance.”“We are literally on the ground, talking to small businesses, so we’re creating this partnership and collaboration where we want more businesses from the U.S. to look at opportunities, partnerships, and investments in Durban, South Africa, and on the continent of Africa,” he said. “We are equally now encouraging more businesses, governments, and leaders on the continent of Africa to also look at doing business in the U.S.”Looking to the future, Dillon and Mbhele hope to see more businesses and corporations owned by Black Africans and Americans 10 years from now, along with a stronger, more established business relationship between the two communities.“Opportunities are there,” said Mbhele. “Rome was not built in one day, and we need to start now for our future generations to enjoy the kind of life that other generations of other races enjoy. Let’s all have our eyes on the ball.”
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