National Black Business Month

SBM August 17, 2023 0 Comments Blog, Count Time

Did you know that August is National Black Business Month? We have some of the latest reports on the celebration and how it came about. Includes an LD excerpt from Who R U? and 8 Ways to Empower Black Businesses.

Black businesses have been around for centuries. Estimates are that Black entrepreneurs can earn over 10 times more than non-Black business owners. (All images below are also links)

US Chamber of Commerce

Count Time Podcast Inspiration – National Black Business Month

Smoke Bayou BBQ – Baton Rouge

Empire Wingz proudly serves delicious food to the greater Baton Rouge community.

The Main Library on Goodwood – Baton Rouge

Selected quotes and notes from Count Time Podcast with LD Azobra – Inspiration

The growth and success of Black-owned businesses is crucial for promoting economic equality, diversity, and social empowerment. Historically, systemic barriers have hindered the progress of these enterprises, but today, there are several effective ways to support and uplift Black businesses. By adopting intentional strategies, individuals and communities can play a vital role in fostering economic growth and reducing disparities.

Buy from Black-Owned Businesses: Purchasing products and services from Black-owned businesses is a direct and impactful way to support their growth. By consciously choosing to spend your money at these establishments, you contribute to their financial stability and help create a demand for their offerings. This can be as simple as buying groceries from a Black-owned supermarket, dining at Black-owned restaurants, or shopping online from Black-owned retailers.
IndyGeneUS AI
Spread the Word: Word of mouth is a powerful marketing tool. Sharing positive experiences with Black-owned businesses among your social circles and on social media can significantly boost their visibility. Positive reviews, testimonials, and recommendations can attract new customers and increase their customer base.
It’s a Watson
Collaborate and Partner: Establishing collaborations and partnerships between Black-owned businesses and other local or established businesses can provide mutual benefits. Joint events, promotions, and initiatives can draw in a larger audience, expand networks, and generate exposure for all involved parties.
Till Freedom Come Productions
Financial Support: Investing in Black-owned businesses or contributing to crowdfunding campaigns can provide much-needed financial resources. Initiatives such as community investment funds, microloans, or grants can empower entrepreneurs to grow their businesses, hire employees, and expand their operations.
Henry Turner Jr.’s Listening Room
Mentorship and Skill-Sharing: Experienced professionals can offer mentorship, guidance, and skill-sharing to aspiring Black entrepreneurs. This can help bridge the knowledge gap and equip business owners with the tools they need to navigate challenges, make informed decisions, and succeed in their endeavors.
Demby and Son Funeral Home
Advocate for Inclusivity: Promote inclusivity and diversity within your own community or workplace. Encourage organizations to actively seek out and support Black-owned suppliers, vendors, and partners. By advocating for inclusivity, you contribute to creating a more equitable business environment.
Russell’s Original Blends
Support Policy Changes: Advocate for policies that promote economic equality, fair lending practices, and reduced barriers to entry for Black entrepreneurs. Engaging in discussions, participating in local government initiatives, and supporting organizations that advocate for these changes can drive systemic improvements.
Educate Yourself and Others: Raise awareness about the historical and contemporary challenges faced by Black entrepreneurs. Educate yourself and others about the importance of supporting Black businesses and the positive impact it can have on both the economy and society as a whole.

Supporting Black-owned businesses is not only a gesture of economic empowerment but also a step towards promoting diversity, reducing inequality, and fostering a more inclusive society. By buying from, advocating for, and collaborating with Black entrepreneurs, individuals and communities can collectively contribute to the growth and success of these businesses, helping to create a more equitable economic landscape for all.

Opening the economy to include Black-owned businesses doesn’t mean less for current business owners. Just the opposite is true, an expanding economy means more opportunity for all.