August is National Black Business Month and it is a great time to shop local Black-owned businesses. National Black Business Month was created in 2004 by John William Templeton and Frederick E. Jordan Sr. to increase support, business development, recognition, and sales in Black-owned businesses. This initiative has sparked change and national recognition of the importance of small businesses in our communities. Without small businesses, our communities are unable to thrive and serve on a local level. “It’s important that we take this time not just to promote Black Business Month, but support Black businesses,” said Ronald Busby, president and CEO of the U.S. Black Chamber of Commerce.
National Black Business Month also addresses the various systemic programs that create fewer economic opportunities for Black Americans. For years Black-owned businesses have lagged behind their counterparts. Blacks often face challenges that others don’t when it comes to receiving loans, partnerships, and sometimes even permits for their businesses. There has been an uptick in revenue for Black businesses since the Black Lives Matter movement of 2020 but we still have a long way to go. According to the Small Business Administration, only about 3.5 million of the over 33 million small businesses in the United States are owned by African-Americans.
Black Business Month is a great call to action for communities to educate, assist, and shop local. There are so many amazing local Black businesses from restaurants, travel agents, hair salons, and retail boutiques. Check out the directory of Black-owned businesses and consider patronizing them not only this month but year-round. By patronizing local Black-owned restaurants and shops we are not only stimulating the economy–we are supporting a dream.
Ways to Support Black-Owned Businesses in Your Community
- Reach out to businesses and offer your expertise, support, or training.
- Pledge to patronize a Black business once a week.
- Look up local groups and associations that support the growth of Black-owned businesses–like the Miami-Dade Chamber of Commerce–and consider making a donation. For example, the National Black Chamber of Commerce has many local chapters across the U.S.
Updated August 2024
