Observers say it’s crucial consumers and business owners support Black business owners during the month for several other reasons. For instance, more than ever, patronage is needed as many Black firms are rebounding from the pandemic and have experienced a tougher time doing so than other groups. In fact, 53% of Black business owners saw revenues fall by 50% or more since COVID-19 became a widespread concern, versus just 37% of white business owners. Others add that backing is needed due to systemic racism throughout the nation, and Black businesses need assurance they are not fighting those conditions alone. Moreover, such advocacy and consumerism promote diversity and inclusion as Black businesses
tend to hire more diverse employees and invest in their communities. It too has been estimated Black entrepreneurs can earn over 10 times more than non-Black business owners, helping trim the racial wealth gap and promoting economic balance.
Dr. Angelic Cole President & CEO Colorado Black Chamber of Commerce
“Where there is no struggle, there is no strength.” Oprah Winfrey
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The Acumen
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