Today in Small Business History

Understanding business history helps small businesses recognize patterns, anticipate challenges, and seize opportunities, equipping them to innovate, adapt, and thrive in a rapidly changing marketplace.

By Dr. Ethan Fairbanks | Small Business History | April 29, 2025

April 29: Lincoln University’s founding shapes a generation of Black entrepreneurs, the UK’s People's Budget sets the stage for small business support, 3D TV technology opens new marketing frontiers, “Hair” on Broadway signals niche market power, and global chemical weapons treaties foster safer business environments.

At A Glance

Lincoln University Chartered: Pioneering Black entrepreneurship (1854)
UK’s People’s Budget Passed: Foundation for small business support (1910)
First U.S. Experimental 3D TV Broadcast: New marketing opportunities (1953)
Broadway Premiere of “Hair”: Counterculture and niche commerce (1968)
Chemical Weapons Convention Enacted: Global stability for business (1997)

🕰️ April 29: HBCU entrepreneurship, progressive tax policy, 3D TV, countercultural commerce, and international safety agreements mark the day.

1. Lincoln University Chartered (1854)

On April 29, 1854, Lincoln University became the first degree-granting Historically Black College and University (HBCU) in the U.S., setting a foundation for Black leadership, education, and business innovation.

✅ Why It Matters:
HBCUs like Lincoln have nurtured generations of Black professionals and small business owners, strengthening diversity and resilience in the entrepreneurial landscape.

🔎 Fact Check:
✅ Correct: Lincoln University was founded and chartered on April 29, 1854, in Pennsylvania as the nation’s first HBCU.
📚 Source: History.com

2. UK’s People’s Budget Passed (1910)

On April 29, 1910, the British Parliament approved the People’s Budget, introducing progressive taxation and social welfare programs that influenced future economic policies supporting small business access and equality.

✅ Why It Matters:
Progressive taxation and social spending helped create economic environments where small businesses could access public resources and thrive alongside larger firms.

🔎 Fact Check:
✅ Correct: The People’s Budget was passed in the UK in 1910, championed by Chancellor David Lloyd George, laying the groundwork for the welfare state.
📚 Source: Wikipedia

3. First U.S. Experimental 3D TV Broadcast (1953)

On April 29, 1953, the U.S. aired its first experimental 3D television broadcast, showcasing new ways to engage audiences and spurring innovation in entertainment and advertising.

✅ Why It Matters:
Breakthroughs like 3D TV opened new marketing and storytelling platforms for small businesses, helping them stand out and capture consumer attention in fresh ways.

🔎 Fact Check:
✅ Correct: On April 29, 1953, KECA-TV in Los Angeles aired a 3D broadcast, pioneering new media technology.
📚 Source: Wikipedia

4. Broadway Premiere of “Hair” (1968)

On April 29, 1968, “Hair” opened on Broadway, proving that countercultural and niche content could become mainstream hits with broad commercial impact.

✅ Why It Matters:
The success of “Hair” showed small business owners the power of serving subcultures and alternative markets, encouraging innovation and bold branding.

🔎 Fact Check:
✅ Correct: “Hair” debuted at the Biltmore Theatre on April 29, 1968, becoming a cultural and commercial phenomenon.
📚 Source: History.com

5. Chemical Weapons Convention Enacted (1997)

On April 29, 1997, the Chemical Weapons Convention came into effect, banning the production and use of chemical weapons worldwide and promoting global stability.

✅ Why It Matters:
International agreements like this create safer, more predictable environments for small businesses to operate, invest, and expand, especially in global markets.

🔎 Fact Check:
✅ Correct: The Chemical Weapons Convention was enacted on April 29, 1997, and is enforced by the Organisation for the Prohibition of Chemical Weapons (OPCW).
📚 Source: Time and Date

📚 What This Means for Business:

April 29th’s milestones reveal how education, innovation, social progress, and global cooperation shape today’s small business landscape. From empowering diverse entrepreneurs to seizing new technology and niche markets, these events highlight the foundations of resilience, creativity, and responsible growth.

✍️ Written by:
Dr. Ethan Fairbanks, M.B.H. (Master of Business History)

🎯 TAGS: #Small Business History #Dr. Ethan Fairbanks #Lincoln University #People’s Budget #3D TV #Hair Broadway #Chemical Weapons Convention