The number of Black-owned businesses with employees grew by more than 30% between 2002 and 2017; still, recent data indicates that just more than 4% of our country’s business owners are Black. Less than 1% of small businesses in Black communities have a profit margin of 20% or more, and only 5% have enough cash on hand to withstand a shutdown of two weeks – in fact, almost 450,000 Black-owned businesses were shuttered during the COVID-19 pandemic. From accessing capital to finding investors, Black entrepreneurs still face disproportionate challenges as they work to build their businesses.

 

That’s why the LBA wants to help support local Black-owned business. We’re seeking to expand the list of organizations we work with, and during Black History Month, we’d like to feature some of these businesses and share more information about them with our membership so you can support them, as well.

 

Know of a Black-owned business you’d like to share with the LBA membership? Send their name and a brief description of what they do to us by email at sgreer@loubar.org, or tag them on our Facebook or Instagram accounts. If you nominate a business, you’ll be entered to win a prize featuring products and services provided by the businesses we feature.