Black Deaf Business Month
August is Black Business month, a time to celebrate and support Black business achievement, and learn about some of the systemic barriers Black entrepreneurs continue to face today.
Read on to discover the history of the month, what you can do to support Black and Black Deaf businesses in your community, and enter for a chance to win a giveaway featuring swag from some of Team CSD’s favorite Black Deaf businesses!
The Story Behind Black Business Month
In 2004, engineer-entrepreneur Frederick E. Jordan joined with editor-scholar John William Templeton to launch the first Black Business Month. Himself now a successful business owner, Jordan hoped the recognition of a national month would help younger Black entrepreneurs, and would draw attention to the ways that racism still creates barriers to success for Black businesspeople today.
Jordan and Templeton saw Black Business Month as a tool for rallying support for Black entrepreneurs from people like local leaders, lawmakers, and investors. On the consumer side, raising awareness, and opening up our wallets, is also an important part of the process—buying from Black businesses ultimately means greater economic freedom and mobility for the Black community.
Black Business Statistics
According to data from 2020:
- 9.4% of American businesses are Black-owned (lower than the 13% share of total U.S. population)
- 59% of Black businesses are owned by women
- The highest percentage of Black-owned businesses is in Washington DC, at 28%
- 41% of Black businesses experienced long-term or permanent closure due to the pandemic (compared to 17% of white-owned businesses)
Much of the inequity evidenced in these statistics is the result of systematic racism in our financial and education systems. For example, Black business owners often report discriminatory processes and difficulty getting small business loans, including PPP loans designed to provide economic support through the pandemic.
General wealth gap disparities and inequitable access to education play a role, too, leaving many Black individuals with less start-up funding on-on hand, and access to fewer networking and educational resources.
Fortunately, as the economy has begun to rebound from the toll of the pandemic, Black businesses are showing great resiliency. That’s why 2021’s Black Business Month is more important than ever!
How Can I Support Black and Black Deaf Businesses?
Financial allyship is key. The best way to support any small business is to shop with intention—use your dollars to show it!
On a tight budget? Spreading the word about a favorite Black or Black Deaf Business in your community or virtually via social media can be valuable too, too!
Black Deaf Business Giveaway at CSD
As part of our celebration of Black Business Month, CSD has purchased a collection of products from some of our favorite Black Deaf businesses across the country, and we’re ready to give it away! Winners will receive products from:
Want a chance to win? Here’s how to enter:
- Click the like button on a giveaway post
- Follow @ThisIsCSD on Instagram or Facebook
- Tag Black Deaf-owned @business in a giveaway post comments; and
- Share the giveaway post on their stories (must be public account) and tag @ThisIsCSD
See terms and conditions here.
The deadline to enter is at 11:59 PM ET on Thursday, August 26th 2021 so don’t wait too long! Only open to legal residents of the United States who complete all four actions listed above. The winner will be contacted via direct message on August 27th, 2021.