August is National Black Business Month and Black-owned businesses are being recognized around the country, according to Teresa Henson, extension specialist-program outreach coordinator at the University of Arkansas at Pine Bluff.
Black Business Month began in 2004 when historian John William Templeton and engineer Frederick E. Jordan Sr. wanted to “drive the policy agenda affecting the 2.6 million African-American businesses,” Henson said in a news release.
There are about 2 million Black-owned companies in the United States, according to the U.S. Census Bureau. Around 40% of Black-owned businesses are in repair, maintenance, health care and social assistance and other personal and laundry services.
Some other Black-owned companies include firms, auto dealerships, restaurants, barbershops and beauty salons, according to the release.
“When supporting Black-owned businesses, you are supporting and encouraging Black unity and self-determination within the community,” Henson said. “Supporting Black-owned businesses builds up communities, generates jobs and opportunities and empowers local communities.
“It is essential to show support to Black-owned businesses because it helps create and contribute to entrepreneurial endeavors and boost community morale,” she said.