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Why Must We Focus On Black Businesses

While increasingly thriving across North America, Black businesses have long been under the radar regarding their profitability and popularity. Letu2019s Have a Tough Convo today about what needs to be done so more Black people are provided clear pathways to becoming owners. Learn more here - https://www.toughconvos.com/post/why-must-we-focus-on-black-businesses

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Why Must We Focus On Black Businesses

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  1. Why Must We Focus On Black Businesses? While increasingly thriving across North America, Black businesses have long been under the radar regarding their profitability and popularity. This goes back to the days of Black Wall Street in the 19th century, one of America’s best-kept secrets. From the Fourth Avenue District in Alabama to Harlem, many thriving, Black-owned business districts were established out of necessity to serve African-Americans white Americans weren’t serving. Despite enjoying high levels of success, Jim Crow laws confined Black businesses to certain areas in their respective cities. Black people were unaware of these laws and Black businesses were targeted. preventing the Black community from developing the entrepreneurial foothold necessary to advance the community. In the social media age, it’s easy to find Black businesses and business districts. But, how many of them are there? And, what black-owned business statistics should you be paying attention to in 2021? Some were destroyed, www.toughconvos.com

  2. How Many Black Businesses are Owned in the U.S.? When you look at the number of Black-owned businesses throughout the United States, it’s hard to ignore the long- term economic impact that systematic, anti-Black racism has caused. America has nearly 12 million businesses, yet, just over 637,000 of them are owned by Black people. The percentage of black-owned businesses in America in 2020 equates to just 5.45%. Well over 42 million Black people live in the U.S., representing nearly 13% of the population. What is the Largest Black-Owned Business? The biggest Black-owned business in North America is World Wide Technology, headed by David L. Stewart. F www.toughconvos.com

  3. What Companies are Black-Owned in Canada? Though Canada has a Black population of around 1.2 million people, a survey from Black in Canada detailed that only 2,000 Black-owned businesses of a significant scale exist nationwide. In Canada, compared to the United States, the number is significantly lower. Much like the United States, Black Canadians struggle with mentorship accessibility. There’s also a funding gap that is emblematic of systematic constraints that have been exposed further by the pandemic. www.toughconvos.com

  4. A List of Black-Owned Businesses When looking for in some of North America’s biggest cities, here is a list of black-owned businesses to consider: Toronto - A Different Booklist: Is a Black-owned bookstore that predominantly features books from the African-Caribbean community. New York - HealHaus: This Brooklyn-based center promotes wellness for people of color, including Yoga classes, meditation and more. Atlanta - the Beehive: It features various independent designers from across the state, offering apparel, jewelry, food items and more. Los Angeles - Gloveworx: A Santa Monica Boulevard- based entity where Black athletes typically train, featuring high-level coaches ranging from Olympians to former boxing champions. Chicago - Coffee, Hip Hop and Mental Health - Musician Christopher LeMark, founded this initiative after personal battles with depression and social anxiety. The space was created to help Black people with similar issues. Montreal - Six Cinquième - A Black creative agency promoting branding and visual production to change Montreal’s marketing landscape. www.toughconvos.com

  5. How Do I Find and Support Black-Owned Companies? Black Owned Toronto is a great resource to find Black- owned businesses of all kinds in the Greater Toronto Area. There’s also WeBuyBlack, an extensive global marketplace for Black-owned businesses. And, there’s the Black Business News directory comprehensive list of companies. These businesses are everywhere. But they require consistent support all- around and the funding and networking necessary to build their brands, and in turn equity for the Black community. if you want a Let’s Have a Tough Convo today about what needs to be done so more Black people are provided clear pathways to becoming owners and can contribute to the economic wellbeing of a thriving Black community. Tough Convos, Canada Tel: 1(858) 876-8176 www.toughconvos.com

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