The same business survey also went on to list some of the main reasons for loss of Black business growth, including a tight labor market, challenges with recruiting and retaining employees and lack of capital and cash flow. “Our organization is comprised of women committed to the growth of our communities that really need our support and we are working very hard to make sure that we equip our people to have wealth that they can pass on to the next generations,” Dilworth continued. “There’s an issue with sustaining Black-owned businesses,” Outgoing 22 ndNational Iota Phi Lambda President Stephanie Dilworth said.“On June 1, our organization will celebrate 90 years of nationwide service, so it is extra important that we continue to help support our communities and work to build economic opportunities, specifically geared toward other Black people.” Working to better close economic gaps and help nurture Black communities to achieve greater financial excellence, Iota Phi Lambda Sorority, the first Black Greek-lettered business sorority, established in 1929, sets off their 90th anniversary, with a call to action for people of color to “rule in the art of business.”
![iota phi lamda iota phi lamda](https://iotasf.org/wp-content/uploads/2020/07/apply-here1-1024x1024.png)
However, in the same survey, it was also reported that while the number of Black-owned businesses are at an all-time high, Black-owned business sustainment and substantial economic growth remain stagnant.
![iota phi lamda iota phi lamda](http://www.iota-eo.org/yahoo_site_admin/assets/images/12077.61123703_std.jpeg)
![iota phi lamda iota phi lamda](https://i.pinimg.com/736x/b5/54/92/b55492f7a3e9ba3a3f4614e246aaa3d7.jpg)
According to a recent study done by Guidant Financial, Black-owned businesses have seen a dramatic increase since 2015, particularly among Black women.