Black-owned small businesses in Arizona show growth on impact report

The Black Chamber of Arizona (BCAZ) is not just experiencing growth in Arizona but also helping to shape the future of business nationwide. BCAZ has become a model for inclusive growth as it has begun to assist companies in other states. Dr. Velma Trayham, President and CEO of the Black Chamber of Arizona, joined “Arizona Horizon” to discuss the report in more detail and what it means for Arizona’s future economy.

The Chamber’s first-ever Impact Report highlights why its approach is gaining national traction, as evidenced by $5 million in capital secured for entrepreneurs, a $1.5 million aggregate increase in member sales, the launch or scaling of over 1,200 businesses, the creation of over 500 jobs, 15,000+ hours of mentorship and technical assistance delivered.

Dr. Trayham said BCAZ has seen businesses pop up in various states including but not limited to Oklahoma, Arkansas and California. Dr. Trayham went on to emphasize why Arizona is such an attractive place to do business.

“It is December, and the weather is absolutely beautiful,” Dr. Trayham said, adding Arizona is also a hub for growth in many industries including banking, technology, manufacturing and health care. She said Arizona has a booming economy and people are moving here at a fast pace.

“The question is though, are we retaining people here?” Dr. Trayham asked. While she is not a native Arizonan, Dr. Trayham has learned through her five years living here that “people come and they go when they don’t feel like there is community.” So part of her initiative is developing the culture and resources for businesses to stay in our state.

Additionally, on December 13, 2025, BCAZ will celebrate this legacy of impact at its 27th Annual Pinnacle Pathways Gala in Glendale, Arizona. This year’s theme, “Resilience and Regional Impact,” reflects the Chamber’s commitment to statewide growth and its expanding national footprint.

This marks the first economic Impact Report in the 27-year history of the Black Chamber of Arizona. Dr. Trayham emphasized the importance of understanding the problems we are addressing to effectively solve them, adding Arizona’s business sector is experiencing rapid growth, encompassing not only Black-owned businesses but also diverse businesses across the state.