A new economic report shows positives for small businesses

Members of the Black Chamber of Arizona saw a $1.5 million aggregate increase in sales and created more than 500 new jobs in 2024 and 2025, according to a new economic impact report released by the organization.

According to the report, Black Chamber members secured $5 million in capital during the time period. The impact report is the first such report the Black Chamber has done, as the Black Chamber said it will help create a path forward to set goals.

Dr. Velma Trayham, CEO of the Black Chamber of Arizona, joined “Arizona Horizon” to discuss more about the report itself.

Around for 27 years, the Black Chamber of Arizona is focused on economic mobility, helping small businesses get access to contracts, access to capital, and providing the resources to scale and grow sustainable businesses.

Referring to the report itself, Trayham stated, “We’re seeing an increase in the area of contracts where our small businesses are getting access to public and private contracting opportunities.”

One of the examples of this that Trayham mentioned is a woman-owned technology firm that, with help from one of the Black Chamber of Arizona’s programs, is right now at about $5 million in contracts and just secured its first big contract through the NFL.

“We have non-profit founders who are now getting grants, and they have a structure within their business. When I think about the growth of these businesses, it’s really giving them the resources to scale, grow, and be sustainable regardless of the economic or political climate that we’re in,” said Trayham.