Spend in the Black Marketplace seeks to ‘Resurrect the Black Dollar’ this Easter weekend

Kharyn Beard prioritizes the Black dollar. It’s why she’s kept her Auburn Gresham store open for 21 years this summer.

Beard will be participating as a vendor for a second year at the Spend in the Black Marketplace. It takes place at 75th Street & King Drive from 10 a.m. to 6 p.m. Saturday. Spend in the Black is organized by Charlie E. Dates, senior pastor of Progressive Baptist Church and Salem Baptist Church, in partnership with Ald. William Hall (6th). The event brings together residents and Black entrepreneurs to advance health and financial wellness. It is free and open to the public.

For Beard, an event like this sends a signal within and beyond the Black community.

“We spend. Our dollars are important,” Beard said. “I don’t even think we realize how important our dollars are. Where we spend our money directly impacts the strength and stability of our communities.”

Last year’s event produced an economic impact of $1 million in spending and attracted more than 5,000 visitors, organizers said. This year’s event will feature a fresh market experience and health and wellness activations, which include on-site screenings and resources to expand access to care. There will also be live entertainment, music, giveaways, and family friendly programming throughout the day.

Beard is the owner of KhamrynB, a boutique offering casual to formal wear, both ready-to-wear and custom-made. Her second location is in Roosevelt Collection in the South Loop. She’s participated in a few programs to strengthen her business, like the Mastercard Start Path program that helps small businesses access resources to thrive. Beard also worked with Our United Village, a program exclusively for a group of businesses selected by Beyonce’s foundation BeyGOOD.

After a profitable day at last year’s Spend in the Black Marketplace, Beard decided to participate again at Saturday’s event.

“The people came out, they were so excited to have us there,” Beard said. “They were supporting, and they weren’t just there looking. People were really spending money.”

Owner Kharyn Beard stands in Kham’ryn B Shoes & Accessories in the Roosevelt Collection shopping center.

Candace Dane Chambers/Sun-Times

The event’s goal calls for the revival of Black economics, which Dates said can help communities flourish and see less crime. He referenced community divestment as a root cause for teen takeovers like the March 25 downtown incident.

“One of the ways in which people’s lives are made richer and better is through economic empowerment,” Dates said. “If you look at the teen takeover from [March 25], you can see that when a community has been divested or has intentionally been neglected, it produces a sense of despair and hopelessness within the children of that community.”

This year’s event looks to strengthen both individuals and the businesses that participate. There will be an hourly raffle where the attendees can receive new savings accounts funded with $1,000 to promote long-term financial stability, sponsored by BMO.

Hall said bringing this event to the once-thriving 75th Street corridor can help the community reimagine that reality once more. “Every ward in every part of this city has its own downtown businesses strip corridor,” Hall said. “This was ours, and the economics are still there. Spending in the Black, I believe, is planting seeds of faith because we’re believing for a corridor that will draw people east, and west.”

Hall said the event puts on display “potential partners in [Chicago’s] $16 billion economy. And so what we want people to walk away with is knowing that there is excellent trade and commerce beyond downtown,”.

The city’s Department of Business Affairs and Consumer Protection has also made an investment to prepare those businesses to be ready for a profitable partnership. One business will receive $15,000 in seed funding from the event’s business competition. It will also include mentorship to support growth.

DEI rollbacks and Self-Determination

In his second term, President Donald Trump has influenced DEI rollbacks across private and public institutions and companies. In response, Black churches have not only vocalized how the rollbacks stunt Black progress, but the churches have also encouraged Black Americans to be self-determined and consciously spend their dollars. Dates said that begins with good money habits.

“From last year’s Spend in the Black, one of the vendors got connected with resources that enabled her to open a brick-and-mortar flower shop in our city,” Dates said. “So, there are opportunities for the business owners, but there are also opportunities for good spending habits for the people who come.”

Owner Kharyn Beard pins a suit onto a mannequin at Kham'ryn B Shoes & Accessories in the Roosevelt Collection shopping center. — Owner Kharyn Beard pins a suit onto a mannequin at Kham’ryn B Shoes & Accessories in the Roosevelt Collection shopping center.

While businesses like Beard’s boutique make a profit from pop-ups like Spend in the Black, Black businesses still need more.

“We don’t have money, we don’t have access,” Beard said,

She said that white business owners have easier access to capital, which is hard for Black-owned businesses to leverage. With an infusion of cash, Beard said she could make operational investments in technology, hire and train her employees, and possibly hire support to manage her business’s finances.

Beard said the lack of support has consequences. “A lot of small businesses are not taught proper banking,” she said. “We’re not taught how to make our books look the best way, so that we are financially sound to ask for money from major institutions.”

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