Black-owned businesses made up about 3% of all U.S. businesses in 2021, according to the Pew Research Center, while Black Americans made up 14% of the population.
The Annual Business Survey reported that most Black-owned businesses are small with less than 10 employees, and they only account for 1% of gross revenue.
While these businesses continue to grow, there is still a lot to do.
We must ask ourselves, are we doing our part to help Black businesses grow?
Years ago, my family began celebrating Kwanzaa. During this week-long celebration, we found ways to practice the principles. One of the holiday’s principles is “ujamaa” or cooperative economics. Each year on Ujamaa, the fourth day of Kwanzaa, we would intentionally find a Black-owned business to support.
We started with restaurants. Then we moved on to buying gifts. Yes, more shopping after Christmas. We gradually expanded our support over the entire week. Then, we expanded it to the whole year.
It was a mission, and then it became a way of life. We asked ourselves, how can we circulate our dollars within our community all year long? What can we do to promote Black-owned businesses?
We can do a lot.
We found Black-owned dentist offices, law firms, financial services, decorators, event planners and physicians. When we had a good experience, we kept going back.
But even without spending money, you can make referrals and share posts about businesses you like on social media. It may sound old-fashioned, but the most effective marketing strategy is still word of mouth. When you share a positive experience at a Black-owned business, it makes a difference.
For business owners, getting the word out about their goods or services is a top priority. Each week, the Indiana Minority Business Magazine shares minority-business highlights to help share their journeys and offerings.
This month, the Indianapolis Recorder is recognizing Black Business Month by hosting “Taste, Toast and Talk,” a professional networking mixer for Black business owners. It’s an opportunity to meet with other entrepreneurs and share resources. It’s also a time to connect and celebrate.
Please join us!
“Taste, Toast and Talk” will be from 1 p.m. to 4 p.m. on Aug. 25 at P30, 3039 N. Post Road, Indianapolis, 46226. The event is free, but registration is open at www.cognitoforms.com/Jael2/TasteToastTalkRSVP.
Contact Editor-in-Chief Camike Jones at 317-762-7850 or camikej@indyrecorder.com.