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Corporations and communities should take advantage of Black History Month to recognize the impact that Black-owned businesses make in our country. There are over 3.2 million Black-owned businesses and they bring approximately $217 billion into the U.S. economy. Donations, social media spotlights and corporate sponsorship are some ways of supporting Black-owned businesses during Black History Month.
Black-owned businesses still struggle with gaining capital and loans compared to white-owned businesses. Therefore, other companies should step in and give support. Corporations can promote black-owned businesses on their websites and social media platforms. Big companies can host workshops and seminars to help black-owned businesses network with others. Owners can meet and plan to coordinate together on a work project or community fundraiser.
White-owned businesses need to access the diversity within their companies and decide if there's room for improvement. Management might talk to Black employees and get their perspectives on diversity issues. Consider asking a Black owner or leader to speak at your company to better educate everybody about business and marketing toward Black communities.
Customers especially should help out Black-owned businesses, not just during Black History Month, but throughout the year. Patronize Black-owned stores, restaurants and barbershops. If customers need help finding businesses, they can look up online directories such as The 15 Percent Pledge and Eat Okra and some major retailers, including Amazon and Target, will also have lists of Black-owned businesses. If you like their products or services, recommend them to your family and friends and promote them on your social media pages. Write a positive review on sites such as Google and Yelp. A customer shopping online can also buy Black-owned brands such as Estelle Glassware, The Lip Bar and Pip's Snacks.
Certain Black-focused organizations and charities need money and resources to stay sustainable and Black History Month marks the ideal time to donate. Local businesses can start fundraisers and make donations to Black schools and colleges. If people can't make financial donations, consider volunteering at community events or at programs set up by the Black non-profit organizations, including those that help children advance in educational and future occupational pursuits. These organizations include National Black Chamber of Commerce, Black Girls CODE, National Society of Black Engineers and Hope, Inc.
If you would like more tips or have questions about supporting Black-owned businesses and organizations during Black History Month, please contact one of our representatives at Brand RPM.