Black Business Month Celebration
- Aug 23, 2023
- 5 min read
Updated: Feb 16, 2024
Written by: Alizé Utteryn, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Did you know that August is National Black Business Month in America? Every August, Black Business Month invites us to champion more than 3 million Black-owned businesses. This is a time that recognizes and supports Black-owned businesses and entrepreneurs 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.
Among American cities, New York has the most black-owned businesses, followed by Atlanta. The highest ratio of black-owned businesses is in Washington, DC, where 28% of all businesses are black-owned. The growth of black-owned franchise businesses has been explosive and on the rise.
History
The annual celebration was created in 2004 by historian John William Templeton and engineer Fredrick E. Jordan Sr. The purpose of establishing a month for Black business owners was to drive the policy agenda for Black entrepreneurs through the participation of community leaders, local politicians, and venture capitalists. This observance is an opportunity to show support for businesses that have been historically underrepresented in the marketplace. So for all people from the Diaspora, whether you are looking for new products or services, now is the perfect time to discover amazing black-owned businesses and help them thrive! Let's continue to support our Black owned businesses and entrepreneurs like myself by empowering and elevating them in your community!
How could we achieve this purpose of empowerment?
Actually, the response is not that complicated, Here is a list of simple initiatives that can truly give a boost to Black-owned businesses.
6 ways to support black business month
1 Shop at black-owned businesses
Shopping at black owned businesses is one of the best ways to celebrate Black Business Month. When you shop at a Black-owned business, you are putting money back into the community and helping to create jobs. You are also sending a message that you value Black-owned businesses and want to see them succeed. Make sure to patronize local black owned stores, restaurants, salons, and more.
2 Share black business stories
Tell your friends and family about it, spread the word. Share inspiring stories about black business owners and entrepreneurs on social media and with your other networks. This will help to spread awareness about the importance of supporting Black-owned businesses, encouraging others to support them.
3. Learn about Black business history
There is a rich history of Black entrepreneurship in the United States. Black businesses have played a vital role in the economic development of the country, and they continue to do so today. By learning about Black business history, you gain a better understanding of the challenges that Black businesses have faced, and their triumphs.
4 Get involved in the community
Organize a fundraiser to benefit a Black-owned business or organization. Ask attendees to make a donation of their choice and host a silent auction to raise money for the cause. Find a black business charity and make a donation in honor of Black BusinessMonth. Your donation will help the charity to continue their work in supporting and empowering African American entrepreneurs.
5 Support black business events by showing up
Taking part in Black Business Month is a great way to show solidarity with members of the Black community and start conversations about why it's important to support minority owned businesses. Attend events hosted by black owned businesses or organizations. These events are great opportunities to network, learn more about the mission of the organization, and even purchase products and services.
6 Invest in a Black-owned business
This is a great way to support Black businesses and help them to grow. There are many different ways to invest in Black-owned businesses, such as through angel investing, venture capital, crowdfunding, or buying stock in a Black-owned company.
Basically, the message of unity is clear. “United we stand, divided we fall”. So let's not break the solidarity chain. Thanks to all of you who pursue this purpose with your contribution at your level, regardless how small or big it is. It is an opportunity for me as well as a Black-woman-owned business to thank everyone who has been supporting me and my business AlizéLaVieCorp. over the years.
Definitely, this celebration of Black Business Month is important and generates wonderful feelings because it can boost confidence and increase the motivation of the black business owners. So Black Business Month is in line with Black History Month (every February). It is all about black greatness and recognition. I would like to emphasize that this statement doesn’t apply only to this specific celebration. In general, celebrating accomplishments is essential because it gives you the drive for future goals, and especially when you are an entrepreneur or business owner. Indeed, showing appreciation boosts a business’s reputation, improves retention, and helps to attract top talent.
As far I am concerned, this celebration of Black Business Month, like Black History Month, should be celebrated not just for a specific month, but rather every single day of the year with consistency and in "every corner of the world".
As a Black business owner you don’t have to wait for any validation, someday to be celebrated or until you hit it big if you want to celebrate success. The small achievements that you make along the way can help sustain your motivation and feelings of fulfillment in order to achieve steady progress and continuously work hard on your goals and attain them. — They inspire you and motivate you to achieve more.
“The more you praise and celebrate your life, the more there is in life to celebrate.” –Oprah Winfrey
The key point is to recognize your own achievements, get in the habit of celebrating yourself, regardless of any external recognition of achievement, because it will encourage you to keep going and maintain that momentum.
Follow me on Facebook, Instagram, LinkedIn, Twitter, and Youtube, or visit my website for more info!
Alizé Utteryn, Executive Contributor Brainz Magazine
Alizé Utteryn is an award-winning serial media entrepreneur, businesswoman, publisher, journalist and international networker based in New York. After a successful professional career as Senior Human Resources executive in France and the Czech Republic, she came in 2009 to the United States... She has since become a leader in Media, Communication and Public Relations. She is the CEO of AlizéLaVie, a global media and marketing company. promoting cultures diversity and talents around the world. Her mission is to empower change, share stories, elevate and inspire... Passionate philanthropic, her leadership and unfailing determination to make a difference in this world are often praised while inspiring others.
