Philly Economy: How Black Businesses Are Adapting to Survive

Philly Economy: How Black Businesses Are Adapting to Survive There was a lot of energy and excitement at Philly’s Black Business Expo, but for many small Black-owned businesses, this year has been tough. Sales are down, and the economic pressures are real. Sierra Marrero, who has been running Indigo Stardust Candles in Philadelphia for three years, knows this struggle well. Her business saw steady growth at first, but fewer people are buying her handmade herbal crystal candles this year. And many of her regular customers don’t have the extra cash anymore, even for something as simple as a candle. Sierra isn’t alone in this. The Black Business Expo at the Wells Fargo Center in South Philly brought together many entrepreneurs facing similar challenges. According to Drexel University, Philly has over 1,100 Black-owned businesses, which make up about 5.4% of the city’s businesses. But even with these numbers, many are feeling the pinch. Unfortunately, rising raw materials costs, shipping costs, and cheaper online competitors make it harder to stay afloat. To tackle these challenges, Sierra has gotten creative. Instead of sticking to pop-up markets and online sales, she’s expanded into making party favors, hosting private candle-making classes, and even selling her...