Happy Black Business Month, also known as National Black Business Month, is an annual observance and celebration held in August in the United States. It is dedicated to promoting and supporting Black-owned businesses, entrepreneurs, and economic empowerment within the Black community.
Just two years ago, in September 2021, it was reported that “Black National Business Month” didn’t appear to be widely recognized or established in terms of events. Hopefully this year, it will emerge and gain significance. Moreover, the concept aligns with celebrating and supporting Black-owned businesses and entrepreneurs. The primary goals of Black Business Month include:
1. Promotion of Black-Owned Businesses: The month serves as an opportunity to raise awareness about Black-owned businesses and encourage consumers to support them. This support can range from buying products and services from these businesses to promoting them on social media and in local communities.
2. Economic Empowerment: Black Business Month aims to highlight the economic contributions of Black entrepreneurs and business owners. By supporting Black-owned businesses, individuals can contribute to the growth and prosperity of the Black community. In other words, Master Mind the Hustle.
3. Education and Networking: The month often includes events, workshops, and seminars aimed at educating aspiring Black entrepreneurs and business owners about various aspects of business management, from financing and marketing to networking and leadership.
4. Community Building: Black Business Month fosters a sense of community among Black entrepreneurs and business owners. It provides a platform for sharing success stories, challenges, and resources, ultimately creating a supportive network.
5. Advocacy and Policy Initiatives: The month may also involve advocacy efforts aimed at addressing systemic barriers and promoting policies that support Black entrepreneurship and economic development.
Black Business Month is a time to celebrate the achievements of Black entrepreneurs and to recognize the importance of economic empowerment within marginalized communities. It aligns with broader efforts to address racial disparities in wealth and access to resources and to create a more inclusive and equitable eco- nomic landscape. Let us use the entrepreneurial spirit that was needed for the Black Wall Street in Blackdom, N.M; New Philadelphia, ILL; Buxton, Iowa; Seneca Village known as Central Park in NYC; Weeksville, N.Y; Greenwood District, Tulsa, Oklahoma; Allensworth, California Dream; and Freedmen’s Town, Texas. Can we take it a step forward and Mastermind the Hustle by promoting Black Owned Businesses, Economic Empowerment, Education and Networking, Community Building, Advocacy, and Policy Initiatives every single month?
We all know from last month’s column profitability is the result of effective management, strategic decision- making, and continuous improvement. Regularly monitoring your performance against benchmarks, making data-driven decisions, and adapting your strategies accordingly will help you work toward profitability each quarter.
Happy Black Business Month to everyone, and many prosperous months to come…
And so it was, Dr. Leslie Grace
