3 Ways to Support Black-Owned Businesses
February is Black History Month in the United States – a month that provides an important opportunity to recognize and celebrate the significant impact and achievements of Black Americans.
At the Maryland Chamber of Commerce, we support a diverse and robust statewide business community and are proud to help elevate, promote and support the contributions of Black Americans and Black-owned businesses during this important month.
Some interesting facts about Black-owned businesses in the country and our region:
- According to data from the U.S. Census Bureau, Black-owned businesses account for 9.75% of all businesses in the United States. This means that out of the more than 33.2 million businesses in America, 3.24 million are black-owned.
- According to the U.S. Census Bureau, in 2019, there were 134,567 Black-owned employer businesses (businesses with more than one employee) in all sectors of the U.S. economy, and in 2018, there were approximately 3,115,000 non-employer businesses with Black owners in the United States.
- A report on economic diversity from Business.org found that in 2019, Maryland was ranked 7th nationwide in minority-owned business, with 116,369 of the state’s 604,176 businesses owned by minorities.
- Findings from the Best States for Black Entrepreneurs indicated that Maryland was cited as notably advantageous for Black business, landing in the No. 2 spot on this list.
3 ways you can support Black and minority-owned businesses across Maryland:
- Shop local: Support Black-owned stores, restaurants and other businesses that are local to your community and Maryland. Bonus: By lending your support, you’re also helping to strengthen the local economy and foster job creation for Marylanders. This resource from the U.S. Chamber of Commerce provides a list of 17+ Black-Owned Small Business Directories you can use to find a business near you.
- Spread the word: Tell family, friends, colleagues and your network about Black-owned businesses. Sharing recommendations through conversations, social media and reviews is a great way to help Black-owned businesses increase their audience of supporters, customers and visitors.
- Share resources: Help spread the word about programs, services and policies that help Black business owners and entrepreneurs start, grow and expand their businesses. Explore some helpful programs and services offered by the U.S. Small Business Administration here.
Other helpful ways to celebrate and honor Black Americans during Black History Month – and all year long – include learning about the many contributions of Black Americans, attending events that celebrate Black History month and Black Americans, and supporting organizations and nonprofits that support anti-racism, equity and equality through donations and volunteerism.
In addition, partnering with Black-owned businesses on contracting and procurement opportunities is another great way to support Black Maryland businesses.
If you are interested in learning more about Black History Month or Black-owned businesses in the United States, here are a few resources to explore: