August is Black Owned Business Month: Celebrate By Supporting Black Entrepreneurs In Greater Cleveland With This Handy Directory
CLEVELAND, Ohio – Since 2004, August has been referred to as Black Business Month.
The US Census Bureau – in its most recent number of companies, conducted in 2017 – found that blacks or African Americans owned just over 124,000 businesses with at least one paid employee. These companies represent 2.2% of the 5.7 million companies in the country. In Ohio, 81,000 companies belong to African Americans.
Historically, black-owned businesses have served as gathering places for black communities across the country. Today, as more black businesses go online, they are creating new avenues for economic opportunity and generational wealth in the black community.
But the coronavirus pandemic has taken its toll.
the Discovery of the Federal Reserve Bank of New York that small business ownership in the United States fell 22% between February 2020 and April 2020, but that black ownership fell 41% – the largest drop among any racial group at the height of the pandemic. Surviving black-owned businesses have suffered a loss of half of their revenues compared to 37% of white owners since the start of the pandemic, according to H&R Block.
In July 2020, cleveland.com set up a directory of black owned businesses for Greater Cleveland. The list comes from Cleveland Urban League, Official Black Wall Street, The real black friday, Jump start and Cleveland Bucket List websites. It is regularly updated every week.
Whether you’re looking for accounting services, lawn care, tutoring, hair salon services, delicious food – and everything in between – we hope you use this list to support black entrepreneurs and members of the the community of Greater Cleveland.