Black Business Month is celebrated in August, and it's a time to acknowledge and appreciate black-owned businesses across the nation. These businesses represent the country’s continual striving for diversity and equality. Denise Moore, CEO of the Black Business Alliance in Peoria, Illinois, emphasizes the significance of this month: “Black Business Month is exciting because it gives us an opportunity to focus on a community that is far too often underrepresented when it comes to access to capital and opportunities to build wealth.”
Honoring Contributions and Legacies
When we celebrate the contributions of black business owners and entrepreneurs, we pay homage to their legacies. This month recognizes the importance of black-owned businesses in contributing to the nation’s economy. Approximately 10% of all American businesses are black-owned, and about 30% of minority-owned businesses belong to black business owners. These businesses operate in various sectors, including health care, social work, repair and maintenance, beauty salons, restaurants, and more. Black businesses across the country are booming and on the rise, with Washington D.C. having the highest ratio of black-owned businesses at a remarkable 28%.
Why Black Business Month is Important
Championing Equity
Black Business Month ensures that black-owned businesses receive the recognition and patronage they so richly deserve, especially if they are struggling to stay afloat. Celebrating black-owned businesses empowers more individuals from the African-American community to dream big and start their entrepreneurial journeys. This empowerment brings us one step closer to achieving equity.
Supporting Minorities
African-Americans, being part of minority communities, often face more significant challenges compared to white-owned businesses due to systemic racism, whether latent or blatant. Supporting black-owned businesses acknowledges and celebrates their struggle, encouraging them to continue thriving. This support is crucial in promoting economic equity and helping these businesses overcome the additional hurdles they face.
Promoting Inclusivity and Diversity
If there are two terms that define our current generation's entire zeitgeist, they are inclusivity and diversity. These values will never go out of fashion as we strive to ensure that institutional racism and prejudice become relics of the past. Black-owned businesses bring in more diversity, and our job is to support them to inspire all minority communities to contribute to the nation's economic and sociological well-being.
Conclusion
Black Business Month is not just a celebration; it is a call to action. By supporting black-owned businesses, we contribute to a more equitable, diverse, and inclusive society. As we acknowledge and appreciate these businesses, we pave the way for future generations to build wealth, create opportunities, and drive economic growth. Let us use this month to champion equity, support minorities, and promote the diversity that strengthens our nation.
Stay tuned for more stories, insights, and ways to support black-owned businesses throughout August and beyond. Together, we can make a difference.
Denola M. Burton is the Founder and CEO of Enhanced DNA: Develop Nurture Achieve, LLC and Enhanced DNA Publishing. Through Enhanced DNA, Denola develops and nurtures individuals and organizations to achieve their Leadership, Communication and Performance goals and objectives. Denola is also an author and publisher and through Enhanced DNA Publishing, assists new and newer authors in publishing their books according to the standards of the Independent Book Publisher's Association (IBPA). Denola retired from Eli Lilly and Company after 27 years where the majority of her career was focused on Employee Relations/Human Resources. Interested in becoming an author? Check out Denola's award-winning book, Enhancing Your Author DNA: Step-by-Step Publishing Guide.
You can connect with Denola on Facebook, Instagram and LinkedIN Enhanced DNA or send a message to DenolaBurton@EnhancedDNA1.com.
Comments