According to data from the U.S. Census Bureau, from 2002 to 2017, the number of Black-owned businesses with employees increased by 31.2%. While this is something to celebrate, the pandemic has disproportionately affected Black-owned businesses. A higher percentage of Black-owned companies shuttered during the pandemic, and of those that did survive, only 10% described their business as “profitable and growing.”
By intentionally seeking out and supporting Black-owned businesses, we can help to reverse this trend, inject more equity into equality, and do our part to combat structural inequities that have plagued Black business owners for centuries.
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