August marks the start of National Black Business Month. This month, we recognize Black business owners and support their contributions to our community.
There are over 3.5 million Black business owners, and these businesses generate hundreds of millions for the U.S. Clearly, Black-owned businesses are essential to the economy, but these entrepreneurs overcome unique challenges.
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DownloadNational Black Business Month raises awareness of these obstacles and recognizes specific experiences of Black entrepreneurs when starting a business.
What is National Black Business Month?
National Black Business Month celebrates Black-owned businesses across the U.S. It was founded in 2004 to highlight the contributions these businesses make to the economy and the challenges Black business owners face to secure financial backing.
National Black Business Month was founded by Frederick E. Jordan and John William Templeton to pass legislation empowering Black business owners. Jordan experienced his own struggles securing funding and wanted to help over 2 million business owners overcome these obstacles.
When is National Black Business Month?
National Black Business Month takes place in August each year. It is a month-long event that spans from August 1st to August 31st.
Looking to get involved? Let’s review four ways you can support National Black Business Month this year – and all year round.
How to Support National Black Business Month
- Refer customers to Black-owned businesses.
- Partner with Black business owners.
- Support National Black Business Month on social media.
1. Refer customers to Black-owned businesses.
If you’re a small business owner, you can support National Black Business Month by referring your customers to these companies. Since your customers trust you, they’ll trust your recommendations as well. Customer referrals are one of the most effective ways for small businesses to generate sales – and that’s not just limited to one month out of the year. While it’s great to celebrate National Black Business Month, this support is great to offer year-round.
One idea is to keep a stack of business cards on your desk, or wherever you might see a lot of customer foot traffic, depending on the type of work you do. If the opportunity arises, hand customers a card with information about the other business, and keep these companies in mind when a customer asks you for a referral.
2. Partner with Black business owners.
86% of Black business owners have concerns about their access to capital, and these owners are more likely to apply for loans than the national average. Partnering with them can help them achieve their goals financially.
One idea is co-hosting an event. You can partner with other business owners to host events for your community, like a block party or a festival. A fan favorite is a food truck event like this one where you invite local vendors to sell food, create pop-up shops, and educate potential buyers about their products and services.
3. Highlight Black-owned businesses on social media.
You can highlight Black-owned businesses on social media if you can’t support them financially. Post on Instagram, like this company did, to recognize Black-owned businesses in your area.
Here are a few captions you can use for your social media post:
- August is National Black Business Month! Join us in supporting Black-owned businesses in your community this month and year-round.
- It’s National Black Business Month! Showing our support for Black entrepreneurs in our community today and every day.
- National Black Business Month is here! Help us support Black-owned businesses this August and beyond.
- August is National Black Business Month! Support Black-owned businesses in your area and help build a stronger community.
- National Black Business Month is here! Let’s show our support for Black-owned businesses in our community this August and throughout the year.
Pro Tip: Don’t forget to include #blackbusinessmonth for extra visibility.
Resources for Black Business Owners
Here are some resources Black business owners can use to secure financial backing, network with other business owners, and apply for business grants.
Black Business Alliance (BBA)
The Black Business Alliance is an organization that helps Black business owners secure funding, improve skills, and manage their businesses more efficiently. The BBA hosts events, training sessions, and outreach programs that are available through its membership. Memberships start at $100/year.
Black Owned Everything
Black Owned Everything is a retail company that exclusively partners with Black-owned brands. It uses Shopify to supply its online marketplace and works with brands even if they’re not on Shopify. Check out this page to learn how to be featured on the site.
Black Business Accelerator
The Black Business Accelerator program is a service that helps Black business owners sell products on Amazon. Since 2021, it has helped business owners secure funding, improve their entrepreneurial skills, and identify opportunities to connect with customers.
Black Connect
Black Connect is similar to the BBA. It’s a membership program that grants business owners access to capital, training, and mentorships that help them grow their organizations. Memberships start at $50 a year, but dues are tax-deductible, according to the company’s website.
U.S. Black Chambers
The U.S. Black Chambers (USBC) offers a range of services through its membership, from online training to business certifications. The USBC also hosts events like the USBC National Conference, where Black business owners can learn and network with each other. Memberships start at $300/year.
Supporting National Black Business Month
Black business owners face unique challenges when starting a business. National Black Business Month raises awareness of these obstacles and supports businesses that traditionally overcome more roadblocks than others.
Use these tips to support Black-owned businesses in your area, or take advantage of the resources above to continue your success this year.
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