What is Black Business Month?
August is National Black Business Month – a time to recognize and celebrate Black-owned businesses and Black entrepreneurs. John William Templeton and Frederick E. Jordan Sr founded National Black Business Month in 2004.
Groupon and The National Black Chamber of Commerce recently surveyed more than 400 Black small business owners:
- 80% said they faced more challenges launching their businesses due to their race
- 74% said they’ve had fewer opportunities due to a lack of capital investment and resources targeted towards Black communities
- 76% of Black-owned businesses said they were negatively impacted by COVID-19, but only 5% of those that applied for Paycheck Protection Program loan received one
Black Business Month is especially important this year as an opportunity to draw attention to and fight against the challenges faced by Black businesses.
Our advice to clients
Are you a Black-owned business? If so, August is a wonderful time to celebrate that identity and tell your story.
Before deciding whether or not to join the conversation, brands need to establish whether they have earned a right to be in the space based on how they’ve supported efforts in the past.
If you’ve established this credibility, you have the space to be seen as authentic with your messaging. If not, the message will come across as self-serving. Perception is extremely important.
Participating in Black Business Month:
We recommend that brands evaluate their context to the Black community and review their content and engagement tactics based on that.
- If celebrating Black Business Month aligns with your values, this is a good time to use your platform to amplify Black businesses, Black entrepreneurs, or causes that assist both. We can help you strategize, ideate and create content for this.
Be prepared for questions and even backlash – have a communications plan in place.