Black entrepreneurship is growing across the United States, and the numbers tell a story worth celebrating. According to the Brookings Institution, the number of Black-owned businesses with employees increased by 62% between 2017 and 2023, surpassing 200,000 businesses and creating millions of jobs. This growth reflects the ambition, creativity, and resilience of Black entrepreneurs who continue to build businesses and create opportunities within their communities.
But behind the progress, there is still a significant gap. Black Americans represent approximately 14.4% of the U.S. population, yet Black-owned employer businesses account for only about 3.4% of all employer businesses. This difference reminds us that growth is happening - but there is still enormous potential for more Black entrepreneurs to access the resources, customers, capital, and opportunities they need to succeed.
Why Supporting Black-Owned Businesses Matters
Supporting a Black-owned business doesn't always mean spending a large amount of money. It can be as simple as choosing a Black-owned brand when shopping, sharing a small business on social media, leaving a positive review, or recommending an entrepreneur to someone who may need their products or services.
These actions may seem small, but they can create a meaningful ripple effect. A customer can help generate revenue. Revenue can help a business hire another employee. A growing business can create new opportunities for a family and contribute to the wider community.
Economic empowerment is built one business, one customer, and one opportunity at a time.
Progress Is Worth Celebrating - But So Is the Future
More than 200,000 Black-owned employer businesses is an important milestone, but the goal should not simply be to reach a bigger number. The bigger goal is to create an environment where Black entrepreneurs can build sustainable businesses, employ others, innovate, and pass opportunities on to the next generation.
At Empower Black Voice, we believe representation goes beyond what we see. It is also about whose stories are shared, whose creativity is celebrated, and whose businesses receive our support.
The next time you discover a Black-owned business, consider doing more than simply scrolling past it. Shop with them. Share their work. Leave a review. Tell someone about them.
Because supporting Black businesses is more than a purchase. It is an investment in people, opportunity, and the future of our communities. 🖤
Support Black. Share Black. Build Black.