Black-owned businesses have historically faced financial challenges, which are rooted in racial discrimination and resource inequity. Today, through increasing social awareness and the call for justice motivated by the Black Lives Matter movement, activism has encouraged the public to support Black-owned businesses more than ever. These efforts have resulted in a significant increase in sales and a surge of new clientele for many Black small business owners. This revitalized movement to advance Black businesses has created more entrepreneurial opportunities and is a step towards decreasing the racial wealth gap, which could potentially benefit future generations. It is essential to keep the momentum going so that this is not just a trend but a true change that has a lasting impact.
How to Find Black-Owned Businesses:
Supporting Black-owned businesses when you can helps to contribute to the economy and your local community while also allowing you to connect with other entrepreneurs to learn success strategies and business models. The following is just a sampling of the available directories providing information on various Black-owned businesses.
ShopBlackCT.com is a volunteer initiative and not-for-profit website featuring 1,200+ Black-owned businesses in Connecticut.
Supportblackowned.com is a one-stop source offering premier Black-owned business listings and tools that allow businesses to invest and build wealth in our very own communities.
officialblackwallstreet.com can be used to search and discover thousands of Black-owned businesses near you from pharmacies to restaurants.
The 15% Pledge
The 15 Percent Pledge is a non-profit advocacy organization urging major retailers to commit 15% of their shelf-space to Black-owned businesses. Their website states that they offer large corporations accountability support and consulting services with the goal of advocating for and supporting Black-owned businesses. The 15 Percent Pledge seeks economic equality and prosperity for Black future founders, Black students, and Black people in the workforce.
If you are an emerging Black entrepreneur, to find out more about how your business may benefit from the 15% pledge, sign up to join their Black-Owned Business Community.
Resources for Entrepreneurship and Startup Support
If you are inspired to bring your small business idea into fruition, the organizations below could help you to get started. They offer resources, services and programs for start-ups, small businesses, and new entrepreneurs of diverse backgrounds
- National Urban League
- The Small Business Administration
- The Minority Business Development Agency
- The National Black MBA Association
- The U.S. Black Chambers, Inc. (USBC)
- The Black Business Alliance