Philadelphia’s Black business community shares concerns as the City looks to economic opportunity in 2026
Councilman Isaiah Thomas recently hosted a virtual meeting to gauge information from Philadelphia’s Black business community.
By Jensen Toussaint. 21 February, 2025.
Councilman Isaiah Thomas/ Credit: Ta'Liyah Thomas & Khara Garcia | PHL City Council
Philadelphia and the entire United States are preparing for the nation’s historic 250th birthday in 2026.
With preparation efforts underway, Philadelphia City Councilman Isaiah Thomas wants the entire city to understand just how important the historic milestone year will be.
“Our overall goal here in 2025 is to make sure that people understand how important 2026 is, and to make sure that people are prepared from a business level to be able to take advantage of some of the things that they’re going to present themselves,” Councilman Thomas said.
With events like the FIFA World Cup, MLB All-Star Game, and some NCAA Men’s Basketball March Madness Tournament matches coming in 2026, Philadelphia expects to see a large influx of people – and money – flow into the city.
This is all in addition to the number of events the city will host to celebrate the nation’s 250th anniversary.
“We anticipate as local government that there will be over a billion dollars in economic opportunities spent here in the city of Philadelphia, based on tourism events and different initiatives that are going to be taking place in that year alone,” said Thomas.
According to a 2023 Drexel University analysis of Census data, there are about 1,174 Black-owned businesses in Philadelphia, comprising about 5.4% of all within the city.
With the opportunities that are in store, Thomas wanted to provide an opportunity to allow Black businesses to put themselves in a position to take advantage of the things to come.
A think tank for Philly’s Black business owners
On Thursday, Jan. 16, Thomas and his office hosted a virtual “Black Business Think Tank” discussion for Philadelphia’s Black business and entrepreneur community.
The purpose of the think tank was to allow Philadelphia’s business community to express their concerns on doing business in the city.
“Today’s conversation is about listening to the concerns that you have in order to set us up and put us in a position to be able to better service you,” said Councilman Thomas.
Eric Murchison is a business banker at WSFS Bank. For him, one of the biggest issues he sees is a lack of education when it comes to small business owners and aspiring entrepreneurs.
“I don’t think there’s any reason why any of us should be in business without having a fundamental education about finances,” he said.
Having a strong relationship with your local bank can help address that.
Among the topics he highlighted that aspiring and existing entrepreneurs should know including how to create a budget, access capital, how to be lendable and bankable, and understand the different types of services that banks can provide for business owners.
David Simms. / Courtesy of "Eatible Delights Catering"
David Simms, who has operated Eatible Delights Catering in Philadelphia for over 25 years, has witnessed a lack of minority vendors being sought when large events come to the city.
As the leader of one of the city’s largest Black American caterers, he firmly believes that his service is more than qualified to cater for such events.
“Not only do I have all the insurances that’s required to work in every building in the city of Philadelphia, but I also carry additional insurances, which include a million dollar liquor liability in addition to my $5 million general liability,” said Simms.
Another concern that was raised is that the procurement process is cumbersome and antiquated.
Meanwhile, others suggested that Black businesses simply don’t have a seat at the table when important discussions are being had and decisions are being made.
Creating opportunities through 2026 and beyond
Jordan Holbert / Courtesy of: It's All Connected Coaching & Consulting.
Jordan Holbert, a relatively new entrepreneur and founder of It’s All Connected Coaching & Consulting, is committed to helping the future now.
“We have so much potential in the youth that’s not being met at a place where it’s being engaged,” Holbert said.
His mission is to educate the youth for the future and empower them to create their access and opportunities to succeed.
Holbert’s biggest concern is ensuring that the younger generations can be built up in a way that is not only plausible but also sustainable.
“If there’s not something built up to keep it sustainable, [then] you have all this stuff that was built and then it’s not used for anything,” he added.
A common theme expressed throughout the discussion is the value of collaboration.
That was a point that Patricia Sanford, CEO of Alexander Perry Inc., which does architecture, construction management, and interior design throughout the city.
“We really are stronger together than we are apart,” she said.
Sanford suggested that subcontracting and partnering with diverse firms is a big reason why she has been able to remain in business for 32 years.
Call to action and next steps
The think tank represented just the first step in ensuring that the city’s Black business community can express their concerns and provide the necessary information for City officials to address them moving forward.
“When we look at the historical context … this can’t be business as usual,” said Councilman Thomas. “This is an opportunity for people to grow their business in ways that will never happen again in our lifetime.”
On Monday, February 24, Thomas’ office will host a Black Business 2026 workshop, which will serve as an extension of the think tank event.
The goal of the workshop will be to help connect businesses with resources to become a vendor or obtain an independent contract for 2026 events.
“This is our goal for all in 2025, our big thing in 2025 as it relates to my office is to make sure Black businesses get the biggest bite of the apple that we’ve ever got in our lifetime when all of this money flows into the city of Philadelphia in 2026,” Thomas said.
There will be several additional workshops — both virtual and in-person — which will be announced throughout the year.
For the other workshops and events that will occur throughout 2025, Thomas and his fellow City Councilmembers are relying on the city’s Black business community to express the kind of content they’d like.
“So that people are not just inspired, but they’re able to move the needle forward,” Thomas concluded.
This project is a part of Every Voice, Every Vote, a collaborative project managed by The Lenfest Institute for Journalism. The William Penn Foundation provides lead support for Every Voice, Every Vote in 2024 and 2025 with additional funding from The Lenfest Institute for Journalism, Comcast NBC Universal, The John S. and James L. Knight Foundation, Henry L. Kimelman Family Foundation, Judy and Peter Leone, Arctos Foundation, Wyncote Foundation, 25th Century Foundation, Dolfinger-McMahon Foundation, and Philadelphia Health Partnership. To learn more about the project and view a full list of supporters, visit www.everyvoice-everyvote.org. Editorial content is created independently of the project’s donors.