Beyond the Price Tag: What Black-Owned Business Want You to Know

As we celebrate the 55th anniversary of ESSENCE magazine this month, we are honoring more than just a milestone, we are celebrating a movement. For more than five decades, ESSENCE has been a cornerstone of culture, community and commerce, amplifying the voices and visions of Black women and the businesses they build.

- 

The New Voices Foundation, an entrepreneur-supporting organization established in 2017, is proud to be a part of the ESSENCE family of companies and organizations. As we look ahead to the next 55 years and beyond, our combined commitment remains clear: to celebrate, support and sustain Black-owned businesses.

To mark this important moment, we asked our New Voices Family of entrepreneurs a simple question: What do you need to not just survive, but thrive as a business for the next 55 years?

Their answers highlight the support and understanding they need to grow and scale, especially as they face challenges that most customers never see in a market dominated by billion-dollar brands.

Here's what they want you to know.

Pricing Is About More Than Profit— It’s About Survival

For small businesses, pricing is both deeply personal and a balancing act.

Their products and services reflect not just materials and labor (with fair wages) but also the real costs of high-quality ingredients, small-batch production and time-intensive care poured into every order.

"Every price reflects more than just the item or service, it includes team wage, gas for deliveries, supplies, software and the time spent ensuring everything is done right. Unlike larger corporations, I can’t operate on razor-thin margins or loss-leader pricing just to attract attention."
-HYACINTH TUCKER, THE LAUNDRY BASKET

"As a small, Black-owned brand, I'm constantly walking a tightrope— wanting to honor the cost of quality, custom-made tools while staying accessible to the very community that I created my products for."
-ROCHELLE IVORY, ON THE EDGE BABY HAIR