We Rise Accelerates Growth for Black-Owned Businesses

Part of the IMPACT Stories series by State of Black Arizona.

Increasing the number, longevity and clout of Black-owned enterprises

Arizona’s Black residents represent six percent of the state’s population, but Black-owned businesses account for just three percent of all businesses and 1.5 percent of employer businesses (those with more than 1 employee). Thousands more Black-owned enterprises would be needed simply to reach parity with the population.

Fortunately, Local First Arizona, one of Arizona’s most experienced local economic development organizations and its We Rise Business Accelerator for Black entrepreneurs are on it. We Rise, a 6-month intensive business and personal development program, recently served its 100th business and welcomed its largest cohort ever of 32 businesses for the Fall 2024 session.

Carmen Attikossie, Senior Manager for We Rise Small Business Development at Local First, leads recruitment and selection of business owners. She brings her experience as a skilled entrepreneur to the effort along with her personal understanding that starting a business and making it last are not for the faint of heart. Knowledge, persistence, and support are key.

Targeted to those with a year or two of experience with their businesses, We Rise requires focused learning time and provides fundamental skills and one-on-one mentoring that can make the difference between success and failure. We Rise, an online effort to ensure accessibility to everyone regardless of geography, provides a supportive space for Black business owners to learn, find solutions to challenges, and build a strong foundation.

“Increase support for Black-owned businesses: This includes access to capital and direct financing pathways, startup resources, education, collaborative research, and assistance identifying and navigating business opportunities.” - State of Black Business Report, 2021

Local First Board member Keisha Tatem championed bringing small business support specifically to Black entrepreneurs. We Rise expanded on other Local First community-based business programs and tailored the lessons learned there to the Black community.

Local First began planning the program in 2019 with guidance from board members and community leaders and started it online in 2020. Two cohorts annually serve a broad range of businesses from food trucks to skin care, health care, education, and more.

We Rise focuses on financial literacy, topics informed by community experience, and what business owners say they need most. Today, the components reflect a comprehensive, practical curriculum:

• Business Finance: Get your money right.
• Business Model Development: So you wanna do business?
• Business Plan: The nuts and bolts.
• Pitching for Success: Make it Happen!
• Black in Business: Doing business while Black.
• Networking & Storytelling: Can you talk that talk?

We Rise is free to attend, but businesses are asked to save $1,000 during the program to invest in their enterprises. Local First matches that effort with another $1,000. In addition, participants are encouraged to open an account at a community bank or credit union in line with Local First’s focus on local financial services as an asset to entrepreneurs for future capital. Business owners also do a market analysis and business plan and have access to Black business professionals for mentoring and advice.

A recently added feature is an annual Demo Day for We Rise graduates. Antoinette Mendez, owner of education consultancy Mission 2 Transition, took first place in 2024 and received a $15,000 prize. Her business offers college and career planning services to expand postsecondary education attainment.

Local First knows from years of business development programs that seeing the cohort experience as just the beginning and keeping business owners engaged contributes to long-term success. For example, a member of the We Rise initial cohort, Charlotte Young Bowens, owner of Conscious Gear, shows what a strong foundation can mean. She has continued to develop VestaPak, which is rooted in her own journey to be healthier. A hydration vest for taller, bigger people with more curves, VestaPak is now sold at REI. Her business continues to acquire backing, including a recent $10,000 marketing grant from Verizon.

From year to year and business to business, We Rise is a vital part of a growing ecosystem that increases the number, longevity, and clout of Black-owned enterprises.

Learn more about the Local First Arizona We Rise Accelerator Program.