Black Business Month is celebrated in August. This month we take the time to shine light and recognize all of the Black-owned companies and businesses across the country. About 10% of businesses in the US are black-owned, which means approximately 2 million companies are owned by African-Americans. About 40% of Black-owned businesses are in health care and social assistance, repair and maintenance, and personal and laundry services, according to https://nationaldaycalendar.com/black-business-month-august/. Out of all US cities, New York has the highest number of black owned businesses, according to fundera.com.

Historian John William Templeton and engineer Frederick E. Jordan Sr. founded National Black Business Month in 2004, and the holiday has been celebrated annually since then. This holiday was put into play to “drive the policy agenda affecting the 2.6 million African-American businesses,” according to Evolve Services.org.

Across the U.S., companies are celebrating Black Business Month. It’s an important time for workplaces to recognize African-Americans’ role throughout history and promote diversity within their organizations. Small businesses and entrepreneurs have been longtime wealth builders for generations. By supporting more Black-owned companies, we can help create more opportunities for meaningful savings, property ownership, credit building, and generational wealth for black communities. This is important because African-Americans have been suffering from oppression for generations, which makes this month so much more important.

To support Black Business Month, you might want to check out some of the local Black-owned businesses promoted here: Yelp.com.