Black Business Month
August is National Black Business Month, and it's an opportunity to recognize the Black-owned businesses across the nation. In 2020, National Black Business Month was particularly important given the disproportionate impact of COVID-19 on Black communities. Economists have indicated prior to the COVID-19 crisis, minority entrepreneurs, who own 37% of all businesses, faced greater challenges in starting, running and growing their entities. It was predicted that 40% of black businesses would not be able to survive the pandemic. According to the U.S. Census Bureau, Blacks or African Americans owned approximately 124,551 businesses, with about 28.5%(35,547) of these businesses in the Health Care and Social Assistance sector, the highest percentage of any minority group. Other categories include advertising firms, auto dealerships, consulting services, restaurants, barbershops, beauty salons.
.jpg)