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.