Supporting Black Business is a Year-Round Activity

Supporting Black Business is a Year-Round Activity

The Triangle Diversity, Equity, and Inclusivity Alliance and the Raleigh Chamber were proud to support National Black Business Month this August. This national month of recognition was launched in 2004 by historian John William Templeton and engineer Frederick E. Jordan Sr., to raise awareness of the challenges Black businesses face and as a tool to advocate for the entrepreneurs that run Black businesses.

However, the challenges faced by Black business owners need year-round support to overcome. Black-owned businesses account for more than 30% of all minority businesses but they still face disproportionate hurdles in terms of funding, startup operations, and successfully turning a profit. In the video below, Johnny Hackett Jr., founder of The Black Dollar Corp., describes some of the specific challenges faced by Black entrepreneurs in our community, many ways that individuals and corporations can support local Black-owned businesses, and how #BlackDollarNC can help!

Founded in 2019, The Black Dollar Corp. established roots in North Carolina through its Black-Owned Business directory #BlackDollarNC, a retail store called the Black Friday Market, and a new co-warehousing and collaborative space The Factory. In partnership with Empower All, Inc., they aim to raise $250,000 to cover the fees local, small business owners have to sell products at Black Friday Market and to utilize The Factory through January 2023, ultimately eliminating “pay-to-play” costs for small business owners!

But there are several other ways you can support Black businesses year-round too:

·         Buy products and services from Black businesses

·         Offer operational support to a Black entrepreneur (i.e. Offer your services like accounting, litigation, or marketing support)

·         Use #SupportBlackBusiness on social media to introduce Black-owned businesses to your clients, colleagues, and friends

·         Offer mentorship and resources where possible

·         Write positive reviews of Black-owned and operated shops, services, and organizations

·         Look for Black-owned businesses throughout your community, research those you are unfamiliar with online, and join networks like Triangle DEI Alliance and the Raleigh Chamber that bring together small businesses and professionals in your area.

Check out the videos below to see which of our Black-owned business members we highlighted this August for National Black Business Month!