Black History Month 2024: Celebrating the Past and Fueling the Future of Black-Owned Businesses
February 12, 2024 – Black History Month is not just a time to honor the past; it’s a chance to celebrate the present and empower the future of Black-owned businesses in America.
The Roots of Black History Month
The origins of Black History Month trace back to 1926 when Carter G. Woodson, a prominent historian, and scholar founded Negro History Week. Woodson chose February to coincide with the birthdays of Frederick Douglass and Abraham Lincoln, two key figures in African American history.
Over the years, the week-long celebration expanded into a month-long event, officially recognized as Black History Month in 1976. This year’s theme, “African Americans and the Arts,” highlights the tremendous impact Black culture has had on various artistic fields.
A Legacy of Struggle and Triumph
Black history is filled with stories of struggle, perseverance, and triumph. From the Civil Rights Movement to the rise of Black-owned businesses, the Black community has fought tirelessly to secure their place in American society.
One such success story is Lillian Werbin, owner of Elderly Instruments, a renowned musical instrument store specializing in fretted instruments. Despite facing discrimination and adversity, Werbin built her business from the ground up, becoming a pillar of the music community.
Another inspiring tale comes from Tj and Hadley Douglas, who founded The Progressive Wine Company. Their determination to succeed in a predominantly white industry led to their establishment as one of the premier wine companies in the Boston area.
The Power of Support
The importance of supporting Black-owned businesses cannot be overstated. According to a recent study by Intuit’s Quickbooks, support for these enterprises increased by 56% in 2023 compared to after the George Floyd murder.
Tom Sullivan, Vice President of Small Business Policy at the U.S. Chamber of Commerce, emphasized the significance of this trend in the latest U.S. Chamber Small Business Update.
“Black History Month is an opportunity to highlight successful Black-owned businesses and the incredible contributions they make to our economy,” Sullivan said.
The Chamber has been actively promoting Black-owned businesses throughout the month, aiming to educate and inspire others to support these vital enterprises.
With 64% of small businesses reporting good overall health and cash flow, according to a Chamber survey with MetLife, the future looks bright for Black-owned businesses in 2024.
As we celebrate Black History Month, let us remember the rich legacy of the Black community and continue to support and empower Black-owned businesses, fueling their success for generations to come.
In the end, it’s not just about acknowledging the past; it’s about building a better future.