The Dynamic Volleyball Club was one of many on display at the Standing On Business Pitch Competition and Business Expo held Saturday at the Tyler Rose Garden Center. (Symone Sheppard/Tyler Morning Telegraph Freelance)

It was all business at the Tyler Rose Garden on Saturday.

Tyler Alumnae Chapter (TAC) of Delta Sigma Theta Inc., in partnership with nonprofit Tyler Area Public Service (TAPS) Foundation, hosted their first-ever Standing on Business Pitch Competition and Business Expo.

The event featured panelists, a pitch competition, and numerous vendors for attendees to enjoy. One of the highlights of the event was the competition, where one lucky business left with $5,000, courtesy of the organizers, to jumpstart or advance their business.

A House Turned Home, a Tyler-based business which transforms furniture by refurbishing it into a beautiful piece, won the competition. The Black-owned business, operated by Shalé and Donny Asbell, competed with five other businesses, who each had 20 minutes to make their case in front of the panel of judges.

The idea behind the inaugural event was to combat some of the challenges minority entrepreneurs often face such as securing business funding, opportunity and support. The Bureau of Labor statistics consistently reports a third of new businesses close within their first two years and half exit within their first five years, and for Black businesses the margin is even slimmer. Eight of 10 Black-owned businesses fail within the first 18 months, according to a Bloomberg report.

“Statistics show that some challenges that minority business owners face is gaining financial support for their businesses as well as notoriety,” said Candace Porter-Condry, local business owner and co-chair of the Economic Development Committee of the Tyler Alumnae Chapter of Delta Sigma Theta Sorority Inc. “We are committed to giving back to the community. One of our focuses is financial literacy and making an impact in our community. Small businesses make up a huge percent of our economy. So any support that they can get will help the economy as we see it today.”

Porter-Condry noted the negative impacts the COVID-19 pandemic had for the economy.

“Some businesses were able to recover, and some were not. There are some lasting effects that we’ve seen,” she said, noting the organizers were proud to part of the economy by “supporting businesses while they recover from what they experienced during the pandemic.”

In her career, Porter-Condry often sees entrepreneurs needing that boost.

“As a business owner myself that often assists other entrepreneurs with business startup, budgeting and planning, I see the need daily,” Porter-Condry said.

In addition to supporting businesses looking to get started, the event also aimed to benefit existing minority business owners in the community.

Multiple businesses were on-site as vendors, whether they were set up inside with their products or services on display or outside offering food for attendees.

As showcased by the 25 vendors, there is a wide variety of businesses with various talents held by local entrepreneurs across the Tyler community.

Another highlight of the event were the expert panels. Panelists with expertise in business funding, marketing, taxes, social media marketing, legal and more shared key information about relevant topics to help current and aspiring business owners get to the next level.

“Our organization is about economic development; that’s one of our five main focuses,” Porter-Condry said. “… We see the impact that support can have on a small business if they just get the right ones behind them and help them with the resources that they need.”

Tonia Bickham, president of TAC of Delta Sigma Theta, said having free admission was an important factor of the event, so that access to valuable resources could be easy for entrepreneurs and consumers alike.

“There are free resources available and that’s what we wanted to offer today was a free resource for people to get information,” she said.

Bickman also shared words of encouragement to those wanting to take the leap to start their own venture, noting there is a very supportive business community available to them. in Tyler.

“Don’t give up,” Bickham said. “Don’t be afraid to step out there. Once you step out there, there’s people that are willing to help. You have to have a passion for it, but don’t be afraid to reach out.”