August is National Black Business Month, and we recognize the Black-owned businesses across the country.
Black business owners account for about 10 percent of U.S. businesses and about 30 percent of all minority-owned businesses. According to the U.S. Census Bureau, that amounts to approximately two million companies owned by African Americans. Nearly 40 percent of black-owned businesses are in health care and social assistance, repair and maintenance, and personal and laundry services. Other categories include advertising firms, local media, dance studios, auto dealerships, consulting services, restaurants, barbershops, beauty salons, and more.
Among cities, New York has the most black-owned businesses in the U.S. followed by Atlanta. The highest ratio of black-owned businesses is in Washington, DC where 28% of all businesses are black-owned.
HOW TO OBSERVE
Support and encourage African American-owned businesses in your community. Learn more about business opportunities for the African American community. Use #NationalBlackBusinessMonth in social media correspondence. Most importantly, support Black businesses year round, not just in the month of August.
HISTORY
Historian John William Templeton and engineer Frederick E. Jordan Sr founded National Black Business Month in August 2004 to “drive the policy agenda affecting the 2.6 million African-American businesses.“
