U.S. Vice President Kamala Harris speaks on stage with Essence CEO Caroline Wanga at the Global Black Economic Forum during the 30th annual Essence Festival of Culture at the Ernest N. Morial Convention Center on July 6, 2024 in New Orleans, Louisiana. Michael Democker | Getty Images News | Getty ImagesIn a year when the U.S. consumer has been weighed down by economic uncertainty, geopolitical tensions and inflation, Black entrepreneurs are eager to get to the Essence Festival of Culture to connect with their core customers.”Essence Fest is like my Black Friday,” said Rochelle Ivory, owner of beauty brand On the Edge Baby Hair. “It is my biggest sales weekend of the year. It’s where I make all the capital I reinvest in my business.”Essence Fest kicks off on Friday, with roughly 500,000 people attending the event in New Orleans. It generates around $1 billion in economic activity, according to organizers.”It’s the cannot-miss event for us,” said Brittney Adams, owner of eyewear brand Focus and Frame. She said this year Essence Fest is even more important because she’s seen Black consumers pulling back on spending.”I would say the uncertainty of just the economic and political climate — that’s giving people a little bit of hesitancy. Should they save the money? Should they buy the things they want?” Adams said.Ivory said her sales are down roughly 30% year over year, but she’s hopeful people come to New Orleans looking to spend their time and money in the festival marketplace.”This could make or break some of us,” she said. “It’s one of the few places where Black women, Black founders can really come together and be seen.”The Global Black Economic Forum aims to bring visibility and create solutions for Black business owners at Essence Fest. This year speakers include Supreme Court Justice Ketanji Brown-Jackson and Maryland Gov. Wes Moore. Last year, then-Vice President Kamala Harris spoke.”We intentionally curate a space that allows leaders to preserve, bu …