Historian John William Templeton and engineer Fredrick E. Jordan created black business month in 2004. The month of August was selected as Black Business month to develop greater economic policies for over 2 million black-owned businesses and entrepreneurs in the United States. 10% of businesses in the United States are black-owned and an essential part of communities they service and support.
The median wealth held by white entrepreneurs vs. black entrepreneurs in the United States is 10:1. Historically, black Americans have had significantly higher unemployment rates compared to white Americans. By committing to work with black owned businesses, black communities prosper. Supporting black entrepreneurs, businesses and franchises is a commitment to diversity, equity and inclusion.
Celebrate black business month this August by learning the history of black businesses in America and shopping at local black owned businesses. Check out Santa Clara County book recommendations for black business month here.