This week we celebrated Small Business Day, a day we take a moment to appreciate the heart and hustle of the entrepreneurs who form the core of our communities.
Despite the pandemic’s curveballs, the resilience of the Black community continues to shine, reflected in the steady growth of Black-owned businesses from year to year. The latest data from the United States Census 2021 Annual Business Survey tells us there were an estimated 140,918 Black or African American-owned businesses in 2020, a bump up from about 134,567, according to the Brookings Institute.
These Black-owned businesses are more than just statistics. They’re vital to both the national economy and local Black economies, acting as catalysts for innovation, job creation, and the enrichment of our diverse business ecosystem.
Feeling inspired to join the ranks of game-changing entrepreneurs? We’ve got you covered, thanks to the experts at the DC Chamber of Commerce’s 2023 Small Business Summit. Whether you’re just starting out or looking to expand, their advice could make your entrepreneurship journey easier.
As we look toward the future, let’s continue to support Black small business owners. Their courage, creativity, and drive are worth celebrating every day.
Stay wealthy,
Bria Overs, Finance reporter
Word in Black
