Supporting and honoring Black entrepreneurs year-round
There has certainly been no shortage of criticism of Black History Month. While the celebration has gained more traction in recent years, many are concerned that it will just become another relatively meaningless month of activities, speeches, and other actions that won’t lead to real change.
Entrepreneurs, however, have a real opportunity to develop practices to support other Black entrepreneurs this month and all year, building support for them into your business model.
Here are 3:
- Build Black-owned businesses into your supply chain. Review the products you purchase and see what items you can buy from a Black-owned business. Many cities now have Black-owned business directories.
- Read about successful Black entrepreneurs from past and present. Recently much more has been written about current successful black entrepreneurs as well as historical figures who paved the way for entrepreneurs today. Read about some of them on the following websites:
- Investopedia: https://www.investopedia.com/legendary-black-entrepreneurs-5112876
- Entrepreneur.com https://www.entrepreneur.com/slideshow/309108
- Forbes: https://www.forbes.com/sites/forbesbusinesscouncil/2021/07/20/business-lessons-from-successful-black-entrepreneurs-part-1-meeting-a-need/?sh=7c752bed158a
- Get involved in advocating for changes that will benefit businesses owned by people of color. In most cities and towns, the licensing and permitting process for businesses is complex and confusing, often a product of years of regulatory decisions layered on top of each other. Regulatory reform will benefit all businesses, but will particularly benefit those businesses that have less access to lawyers and other resources to help them navigate complex regulatory processes. Call your city councilor, or select board member, and speak with the department that manages the permitting and licenses process to discuss your recommendations.
Do you have other ways that you’re supporting black entrepreneurs this month and throughout the year?
Contact me below to share your questions or thoughts.