What is Black Business Month?
Black Business Month, observed every August, is a time dedicated to recognizing and supporting Black-owned businesses across the United States. This month-long celebration highlights the vital contributions of Black entrepreneurs to the economy while addressing the unique challenges they face, such as limited access to capital and systemic barriers.
Quick Facts
- When is it? August (August 1–31)
- Tagged as: A celebration of Black entrepreneurship and economic empowerment.
- What’s the hashtag? #BlackBusinessMonth
- When was it founded? 2004
- Who founded it? Frederick E. Jordan and John William Templeton
History of Black Business Month
Black Business Month was established in 2004 by Frederick E. Jordan, an engineer, and John William Templeton, a historian. Their goal was to promote policies that empower Black-owned businesses and highlight their contributions to the U.S. economy. The celebration also stems from a rich history of Black entrepreneurship, dating back to the late 1700s, flourishing during the “golden age” of 1900–1930, and overcoming systemic challenges like segregation and inequality.
Timeline
- 1900–1930: The “golden age” of Black-owned businesses.
- 1921: The Tulsa Race Massacre destroys “Black Wall Street.”
- 1969: Frederick E. Jordan faces funding challenges starting his firm.
- 2004: Black Business Month is officially founded.
- 2025: Over 3.5 million Black-owned businesses contribute significantly to the economy.
Upcoming Dates
| Year | Month and Date | Day |
|---|---|---|
| 2025 | August 1–31 | Friday |
| 2026 | August 1–31 | Saturday |
| 2027 | August 1–31 | Sunday |
| 2028 | August 1–31 | Tuesday |
| 2029 | August 1–31 | Wednesday |
| 2030 | August 1–31 | Thursday |
Observed
Black Business Month is observed nationwide through events like workshops, networking opportunities, and community gatherings. Cities like Cambridge and organizations across the U.S. host activities to support Black entrepreneurs.
How to Celebrate Black Business Month
Support Local Businesses
Visit Black-owned stores, restaurants, or services in your area. Your purchases directly contribute to their growth and success.
Spread Awareness
Use social media platforms to share posts about Black-owned businesses. Use hashtags like #SupportBlackBusiness to amplify their reach.
Educate Yourself
Learn about the history of Black entrepreneurship and share this knowledge with others. Understanding the past helps in shaping a more equitable future.
Fun Facts About Black Business Month
- Approximately 10% of U.S. businesses are Black-owned.
- The Greenwood District in Tulsa was once known as “Black Wall Street.”
- Reginald Lewis was the first African-American to build a billion-dollar company.
Quiz
- When is Black Business Month celebrated?
- Who co-founded Black Business Month?
- What hashtag is commonly used for this celebration?
- What historical event destroyed “Black Wall Street”?
- What percentage of U.S. businesses are Black-owned?
(Answers: 1. August; 2. Frederick E. Jordan and John William Templeton; 3. #BlackBusinessMonth; 4. Tulsa Race Massacre; 5. Approximately 10%)
FAQs
What is the purpose of Black Business Month?
To recognize and support the contributions of Black-owned businesses while addressing challenges they face.
How can I support Black-owned businesses?
Shop at their establishments, spread awareness on social media, and attend community events.
Why was it founded in August?
August was chosen as a symbolic month for reflection and action toward economic equity.
Are there any specific events during this month?
Yes, cities host workshops, pop-up markets, and networking events throughout August.
How does supporting these businesses impact communities?
It fosters economic growth, creates jobs, and promotes equity within underrepresented communities.
Importance of Black Business Month
Black Business Month plays a crucial role in fostering inclusivity by celebrating the resilience and achievements of Black entrepreneurs who have historically faced systemic barriers. It encourages economic empowerment within underrepresented communities while inspiring future generations of entrepreneurs to dream big.
Related Topics
- National Minority Enterprise Development Week
- Women’s Small Business Month
- Economic Equity Initiatives