August is National Black Business Month, a month in which black businesses and entrepreneurs are recognized and celebrated for their success, milestones, and historic progress.
According to the annual business survey data“Black or African Americans own about 124,551 businesses, and about 28.5% or 35,547 of these businesses are in the healthcare and social support sector, which is the highest percentage of the minority group.”
Throughout history, black companies have systematically racist, redlining, as evidenced by the Tulsa massacre in which the economically prosperous black community in Tulsa’s Greenwood district was attacked and destroyed in 1921. And even endured violence.
Over the past year and a half, the pandemic has forced many businesses to shut down, which has had a disproportionate impact on black businesses. 40 percent drop Black business ownership.
Nevertheless, the black business continues to grow and succeed.by Yelp Local Economic Impact ReportDespite the setbacks caused by the pandemic, black and female-owned businesses have been patient. According to the report, the percentage of people searching for black-owned businesses on Yelp in the United States increased by 3,085%.
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