Houston’s Black Businesses: One Crisis from Closure

Houston’s Black entrepreneurial community is flourishing, with Black-owned businesses now making up approximately 4.7% of all businesses in the city—one of the highest rates in Texas and well above the national average. From 2017 to 2020, the number of Black-owned businesses in Texas surged by 13.6%, generating over $141 billion in revenue and providing employment to more than 1.3 million Texans. Houston consistently ranks among the top metropolitan areas for minority-owned startups, with nearly 5,600 minority-owned startups—about 30% of all new companies—calling the city home.

Despite this impressive growth, a critical vulnerability threatens many of these businesses: over 70% of Black-owned businesses in Houston lack a formal succession or legacy plan. Without such planning, a single crisis—whether the sudden illness, incapacitation, or death of the owner—could lead to costly legal battles, business closure, or loss of generational wealth. This stark reality puts years of hard work and community progress at risk.

Compounding this issue, only 1 in 5 Black families in Houston pre-plan for funerals or final expenses, leaving families vulnerable to financial strain during already difficult times. Systemic challenges such as limited access to capital, lower rates of financial literacy, and historical barriers to wealth accumulation continue to impact the sustainability of Black-owned businesses in Houston.

Recognizing this urgent need, Mrs. Donna Marshall-Payne, founder of Doing Far More LLC, is leading the charge to empower Houston’s Black entrepreneurs through the upcoming Spring Formal. This event, part of the Black Entrepreneur Tour, will be held at 23161 Morton Ranch Rd, Katy, TX 77449 and is designed to educate business owners about the critical importance of legacy and succession planning.

The Spring Formal will feature inspiring speakers such as Marcus Bowers, CEO of She’s Happy Hair and Cinema Anywhere Houston; Brittany Hall, owner of La Lutte Empire; Martel Matthews (co-owner of Black Wall Street), and event sponsor YetundeO, founder and creative director of The UpperRoomEvents. Attendees will also enjoy special experiences including coverage by Flume TV and Eyeconic Television alongside Bolanle Media, a sophisticated charcuterie table by Chef Shay, and signature mimosa bar drinks crafted by La Lutte Bartending exclusively for Doing Far More.

If you’re a Black entrepreneur in Houston, this event is your opportunity to join a vital conversation that too often goes unspoken. Don’t wait until a crisis threatens your business and legacy. Secure your spot at the Spring Formal and become part of a community committed to building lasting wealth and generational success.

For more information or to RSVP, contact Mrs. Donna Marshall-Payne directly at 832.745.1114 or email info@doingfarmore.com

Let’s ensure Houston’s Black-owned businesses not only thrive today but endure for generations to come. Join us at the Spring Formal, and let’s do far more—together.