Don’t tell me what your priorities are, the old adage goes — show me your budget and I’ll tell you what your priorities are. Do you want to demonstrate your commitment to social and economic justice? Then patronize Black-owned businesses.
There are 2.6 million Black-owned businesses in America, according to the Small Business Association. The overwhelming majority — 2.6 million, or nearly 96% — are nonemployee businesses run by sole proprietors. African-Americans own just 2.2% of the 6 million businesses that employ workers, according to USA Facts.
Black business owners are much more likely to be younger than the business-owning population as a whole and they’re more likely to be women, as well. Together, Black-owned businesses employ about 975,000 people, roughly 840,000 of which work in small businesses with less than 500 employees. Two out of three — 645,000 — work in businesses with fewer than 100 workers.
No matter what they do or sell, what product they make or what service they provide, each founder, co-founder, owner and CEO has a story to tell and a contribution to make. You can contribute by supporting them or any one of the many business owners like them today and every day.
Last updated: June 16, 2021
Cherry Blossom Intimates
Like DOF, Cherry Blossom Intimates is a one-of-a-kind organization. Co-founded by boutique owner Jasmine Jones and breast cancer surgeon Dr. Regina Hampton, it’s an intimates boutique and a breast health facility at the same time. It specializes in intimates for breast cancer survivors and custom breast prostheses — Dr. Hampton is the only physician who is also a certified mastectomy fitter, according to the company site. Although the company belongs to two Black women entrepreneurs, Cherry Blossom Intimates is a safe place for “all women no matter their bra size, skin color, or breast cancer status.”Check Out: 25 Biggest Companies You’ve Never Heard Of
It’s hard to imagine that someone who sells women’s anything could ask for free advertising more powerful than to have Michelle Obama wear their product in public. That’s precisely what happened to Chari Cuthbert, who found out that the former first lady wore her gold V-O-T-E necklace during her nationally televised keynote speech at the Democratic National Convention in August when her mother called her and told her, according to CNBC. Cuthbert had been making her knack for jewelry pay by selling her work on a gig basis as a side hustle. Soon, however, publications like the New York Times picked up on the necklace’s symbolism and simple beauty and within a month, Cuthbert had sold 5,000 of them — and the side hustle was a side hustle no more.More: 30 Ways Shopping Will Never Be the Same After the Coronavirus
Lifelong tea lover LaTonia Cokely began building her tea and wellness brand 15 years ago, and that brand has grown into Adjourn Teahouse. The site sells high quality artisanal loose tea sourced from sustainable growing operations around the world. The teas are hand-blended into unique and culturally significant formulas with names like Puddin’, Afro Blue, Kinfolk and Sunday Morning.Discover: Greatest Celebrity Products of All Time
Many people heard of Sharon Chuter for the first time in September 2020 when she became a prominent figure in the wild racial reckoning that consumed the summer. Chuter launched Pull Up For Change, an anti-racist grassroots reform initiative — but to the legions of her brand’s loyal followers, the Nigerian-born entrepreneur was always the founder of Uoma Beauty. Long before the unrest, Chuter had established Uoma as one of the most inclusive, innovative and respected Black-owned brands in the crowded and competitive beauty industry, but in 2020, words on a website became active in the streets.Find: 25 Investments That Make You Feel Good While You Make Money
Brown Capital Management
Black-owned and located in Baltimore, Brown Capital Management is one of the world’s top-performing investment firms. Eddie Brown founded the company in 1983 after working as a portfolio manager for T. Rowe Price. Today, it’s 100% employee-owned and 70% of those employees are minorities.
Crowns & Hops
The craft beer that comes out of Crowns & Hops Brewery is described by the brand as “dank” and “dope” — adjectives that are eponymous to the company’s founders, CEO Beny “The Dope” Ashburn and head of beer operations Teo “The Dank” Hunter. Grounded in not just great beer, but art and activism, as well, the company is “dedicated to preserving culture, expansion of the palate and community building through world-class beer.” It recently created special artwork for its cans that reflects the heritage of America’s HBCUs and serves up interesting brews with names like Urban Queen Imperial Stout with Red Bay Coffee, Elevated Cypher India Pale Ale and Beat Messenger pilsner.More From GOBankingRatesJaw-Dropping Stats About the State of Retirement in America
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