OPINION | Seattle's Small Business Owners Collaborate to Combat Economic Inequality at Generational Wealth Conference

by Lauren Rosenthal

On Dec. 11, African Community Housing & Development (ACHD) hosted the highly anticipated Generational Wealth Small Business Conference at the Ethiopian Community Center. This marks the organization's largest event to date, following previous small-business initiatives under the guidance of Abokor Isaak, senior manager of small-business support at ACHD. The conference drew over 60 small-business owners and aspiring entrepreneurs, highlighting a critical moment for both Seattle's small-business community and ACHD.

Aiming to uplift both the Black and African Diaspora immigrant and refugee community in King County, the nonprofit ACHD, under the leadership of CEO Hamdi Abdulle and Vice President Bilan Aden, empowered small businesses in Seattle by offering practical insights through guest speakers, open discussions, and networking opportunities.

The theme of the event, generational wealth, underscores the importance of assets that can be passed down through generations. This concept is particularly significant in Seattle, where wealth disparities are deeply tied to racial stratification. Supported by the Seattle Department of Neighborhoods, which helped fund the event, ACHD seeks to close these gaps by fostering an environment where BIPOC individuals, immigrants, and refugees can access the resources, networking opportunities, and support necessary for financial growth. Through events like this, ACHD hopes to combat economic injustice and promote long-term prosperity.

Many of the micro businesses are managed by BIPOC and immigrant communities, and duplicate businesses may require the same resources, which are limited. Although many entrepreneurs may feel empowerment from building a career as a small-business owner, the financial disparity rooted in racial discrimination and ethnocentrism inhibits the availability of widespread support — resources necessary for success thin out, and the wealth gap is perpetuated.

"We've identified that many of our community businesses are micro businesses and need more tailored support," said Zzaj Collins, director of philanthropy and 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."

This event, meant not only to address generational wealth but also to provide critical advice for small businesses to thrive, consisted mostly of members of BIPOC communities and immigrants.

Sitting at round tables that covered the entirety of the auditorium, about half of the attendees were small-business owners, with the rest being prospective entrepreneurs. Some were willing to share the challenges they face, ranging from the sheer complexity of creating a small business to the issue of duplicate organizations.

Diana, a researcher who is interested in starting a business, says she is hesitant — the process is overwhelming. As a Latina and a first-generation American, Diana is thinking of importing coffee from Mexico. She and her parents have thought for years about building some kind of small business that focuses on importing Mexican goods, but the path toward creating a small business, let alone being successful, is unclear. Diana knows that the main responsibilities of the business would likely fall on her — she would be the showrunner.

"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."

Small businesses often face another common challenge: competing with larger corporations. While this can demand extra effort from owners and employees to stay afloat, many small-business owners — especially those from immigrant communities — thrive by leveraging unique cultural perspectives, innovative strategies, and a global approach to business practices. Small businesses are the beating heart of American communities, especially within immigrant populations, who contribute to the economy by establishing organizations that serve underserved communities.

ACHD aspires to create an environment that fosters networking and belief in the BIPOC, immigrant dollar. As highlighted by the MIT Sloan School of Management, a study found that immigrants are more entrepreneurial than native-born citizens, and their businesses create more jobs. Immigrants are 80% more likely to start a business than their U.S.-born counterparts, and the firms they create generate 42% more jobs, relative to the size of each population.

A central theme throughout the event was the need for greater collaboration. As was noted by many of the participants of the conference, there is a sense of distrust between communities. Small-business owners and entrepreneurs sometimes do not want to work together. Collins emphasized the importance of pooling resources and creating supportive systems within the community. Culture should be a point of connection, not a barrier. 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 a small-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."

The intentionality of the Generational Wealth Small Business Conference is to educate the community about the reality of our nation's wealth gap that feeds on racial and class stratification. The more privileged end of the spectrum profits from the distrust and unwillingness to collaborate that exists in the communities that by and large create small businesses.

"We must learn to not view tension negatively," said Collins. "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 to and educate each other. We have to know the needs and learn what the real issues are."

The conference included a powerful moment as participants shared their names and business stories. For many business owners, this was an opportunity to step into the spotlight and connect with each other. Showing up and being strong in any room is how small-business owners — who, by virtue of their role, are community leaders — grow. The power of community is undeniable, and networking at events like this one can serve as crucial turning points for these individuals.

Tamrat, another attendee, had an interesting story to share. After almost two decades of working as a CEO and general manager of a few different companies, Tamrat is now a self-employed podcaster. He works with businesses and individuals to tell their stories in a way that feels authentic to them.

"I am searching for my story also," said Tamrat. "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 identifies the importance of events like the conference as a way to empower individuals, find their stories, feel self-assured, and connect with each other. He repeated the word "entropy" and the want for an open system; community and connection are necessary steps not only toward creating a successful business but also toward closing the wealth gap that impacts the nation.

Anthony, another attendee who works as a general contractor and runs a construction business, wants to feel more comfortable within the community. His business has been live for a few weeks now.

"It's so easy to feel isolated," said Anthony. "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 rising economy, as reported by the city itself, does not necessarily include small-business owners, specifically those who are BIPOC or immigrant individuals. As demonstrated by the conference, community members are well aware that this problem exists and inhibits many from opening the doors of opportunity and financial stability.

As the country witnesses a stark rise in class consciousness, events like the one hosted by AHCD are more important than ever for inspiring individuals to gain the empowerment they need to be professionally and personally successful. Now is the time to educate and get educated. Now is the time to build trust with community members and those who face similar struggles rooted in social stratification. Now is the time to understand the reality of class division and take action to eliminate it so future generations can live equitably.

The Generational Wealth Small Business Conference is made possible by the Department of Neighborhood's Generational Wealth Initiative and Washington State Labor & Industries.

Small-business owners are bound to benefit from events like these, gaining empowerment in everything from daily tasks to manifesting the big picture. To learn more, please visit www.achdo.org.

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Lauren Rosenthal is the communications manager at African Community Housing and Development.