businesses
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Supporting Black-owned businesses is increasingly recognized as a way to promote racial equality. Financial support, beyond mere acknowledgment, is considered crucial for fostering a more just and equitable society. Many California destinations and media outlets have compiled lists of Black-owned shops and restaurants to encourage patronage. Resources are available throughout the state, including Los Angeles, […]
A recent LendingTree analysis highlights persistent disparities in small business financing. Black-owned businesses experienced the highest rejection rates for loans, lines of credit, and merchant cash advances in 2024, while Hispanic-owned businesses also faced significantly higher denial rates compared to white-owned businesses. Financing Rejection Rates by Business Ownership The LendingTree analysis found that 39% of […]
Nearly 70% of Africa’s economy operates within the informal sector, with millions of small traders, cross-border merchants, and micro-entrepreneurs primarily using cash for transactions. This reliance on cash creates vulnerabilities including theft, financial loss, and limited access to formal economic systems. Mukuru, a financial platform, aims to bridge the gap between Africa’s formal and informal […]
The annual “BZB Shop Til Ya Drop” showcase, held at Shiloh Baptist Church Family Life Center in Northwest D.C., provides a platform for Black artisans and entrepreneurs to connect with consumers and bolster their businesses. The event emphasizes cooperative economic principles and aims to foster longevity for Black-owned enterprises. Washington, D.C. has a significant concentration […]
The Trump administration has taken steps to dismantle programs designed to address systemic racism and economic exclusion, impacting minority- and women-owned businesses. These actions target initiatives intended to level the playing field for historically disadvantaged entrepreneurs. Disadvantaged Business Enterprise (DBE) Program The Justice Department under the Trump administration filed to end the Disadvantaged Business Enterprise […]
August is designated as National Black Business Month, a time to recognize the unique challenges and contributions of Black-owned businesses in the United States. The history of these businesses reflects a persistent drive for success. Recent data indicates continued expansion within the Black business community. Growth in Black-Owned Businesses The U.S. Census Bureau’s Annual Business […]
Marcus Webb and his brother, Bryan Webb, recognized a need in Knoxville and founded Goldenseal Cleaning Company to address it. Black-owned businesses contribute significantly to the community, but often face unique challenges that the Knoxville Area Urban League actively works to overcome. Goldenseal Cleaning Company’s Rise Marcus Webb recalls childhood memories of his father, an […]
New Businesses Bring Central African and Ethiopian Culture to Little Saigon Africanita Market and Conspagna Ethiopian Restaurant recently opened their doors in Seattle’s Little Saigon neighborhood, establishing locations on Jackson Street. Both businesses expressed excitement about securing their spots after an extensive search. Africanita Market Africanita Market offers a diverse selection of essential products and […]
A block of Upshur Street NW in Petworth is recognized for its concentration of women-owned businesses, and Washington, D.C., is celebrating them during Black-Owned Business Month. Despite economic concerns, consumer spending has increased this summer, benefiting these local establishments. Petworth Business Community Several Black women-owned businesses are located on a single block of Upshur Street, […]
Black entrepreneurship in the United States has seen a significant increase in recent years. Data from the Pew Research Center indicates a rise of over 70,000 Black-owned businesses between 2017 and 2022. Despite this growth, business owners report facing challenges related to the current economic climate and political environment. Challenges for Business Owners Will Aiyeogenku, […]