As of Friday, August 1, 2025, the United States officially celebrates National Black Business Month, a nationwide observance dedicated to uplifting and supporting Black‑owned businesses and entrepreneurs. Created in 2004 by engineer Frederick E. Jordan Sr. and historian John William Templeton, the month was initiated to galvanize policy and consumer attention around the estimated 2.6 million African American businesses that contribute to economic growth and equity across the country.
Throughout August, retail campaigns and online marketplaces highlight the diversity of Black‑owned enterprises, showcasing products ranging from fashion and beauty to lifestyle goods and wellness services. Consumers are encouraged to buy from Black‑owned businesses as a way to invest in inclusive economic practices, promote workforce diversity, and help narrow the racial wealth gap that persists in America.
Black‑owned businesses wield a notable presence in the U.S. economy, even amid systemic barriers. According to data, over 3 million Black‑owned businesses exist in the U.S., with approximately 134,000 employer firms employing over 1.3 million people and generating more than $50 billion in annual payroll. Despite recent growth, Black‑owned businesses remain underrepresented relative to their share of the population and total business revenue.
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A standout development is the rapid rise of Black women entrepreneurs. Though comprising less than 10 percent of the U.S. population, Black women now represent the fastest‑growing demographic of entrepreneurs in the country. Between 2019 and 2024, firms owned by Black African American women increased by more than 50 percent, with revenue rising by over 80 percent and employment growing by nearly 45 percent. In early 2025, reports noted that Black female entrepreneurs continue to launch businesses at a higher rate, despite declining corporate support for diversity, equity, and inclusion initiatives across many major companies.
However, challenges loom large. Many Black women business owners encounter hurdles in accessing capital—loan denial rates remain substantially higher compared to peers, and investors continue to underfund emerging Black‑owned ventures. This financial barrier has slowed momentum, particularly as some corporations roll back DEI commitments under shifting political pressure. In early 2025, it was reported that companies including Amazon, Meta, Ford, and Walmart had scaled back supplier and diversity spending, significantly affecting Black female entrepreneurs who had benefited from inclusion programs launched after the 2020 racial justice movement.
Consumers, communities, and businesses are urged to play an active role during August and beyond. The 15 Percent Pledge initiative, launched in 2020, asks major retailers to commit 15 percent of shelf‑space to Black‑owned brands—a public demonstration of economic allyship. While some retailers have participated, pressure and program challenges remain ongoing.
Local governments, chambers of commerce, and civic groups frequently hold events to spotlight Black entrepreneurs. For example, municipalities such as Cambridge, Massachusetts, have launched community-based campaigns to raise awareness and strengthen ties between Black business owners and their customers.
National Black Business Month is a vital moment to emphasize the twin goals of celebration and sustained inclusion. Historically, it has offered an opportunity for individuals to redirect even modest spending power toward businesses that often reinvest directly into their communities—creating employment opportunities and building local wealth over time.
Supporting Black‑owned businesses is about more than individual purchases—it is a meaningful act to promote economic justice. Education and financial institutions, corporations, and individuals can extend beyond August by promoting mentorship programs, advocacy for equitable procurement policies, and inclusive investment vehicles. These actions help Black entrepreneurs overcome systemic gaps and contribute more fully to the national economy.
In summary, August 2025’s National Black Business Month provides a renewed chance to acknowledge Black business owners’ resilience and innovation in the face of adversity. Amid rapid entrepreneurial growth—especially among Black women—the community continues to face significant structural obstacles. As the cultural momentum of DEI support softens, the role of consumers, retailers, and policymakers becomes even more pressing. Elevating Black‑owned businesses now contributes to broader equity goals and sustains transformative change throughout the year.
