Dr. LaKeshia N. Myers
By LaKeshia N. Myers
August marks Black Business Month and never has this recognition been more crucial to our community’s survival and prosperity. As corporate America and government agencies systematically dismantle diversity, equity, and inclusion programs, and as minority contracting face unprecedented challenges, Black-owned businesses stand as our economic lifeline—not just for Black communities, but for the entire American economy.
The past few years have revealed the fragility of progress. Companies that once proudly showcased their commitment to diversity are quietly rolling back DEI initiatives. Consumer boycotts targeting big box stores and well-known brands that fail to support social justice causes have created a chilling effect on corporate allyship. Meanwhile, minority contracting programs face legal challenges and budget cuts that threaten to reverse decades of incremental progress. In this climate, Black businesses aren’t just cultural institutions—they’re economic necessities.
John Hope Bryant, founder and CEO of Operation HOPE, has long understood this fundamental truth. Through his work promoting financial literacy and economic empowerment, Bryant consistently emphasizes that Black purchasing power—estimated at over $1.4 trillion annually—represents a force that all businesses, regardless of ownership, depend upon to thrive. Our dollars don’t just support Black businesses; they fuel the entire economy. When we strategically direct our spending toward businesses that reflect our values and invest in our communities, we exercise a form of economic democracy that no legislative rollback can eliminate.
The numbers tell a compelling story. Black-owned businesses employ millions of Americans, contribute billions in tax revenue, and serve as anchors in communities that mainstream businesses often overlook or abandon. Yet despite comprising 13% of the population, Black Americans own just 2% of businesses. This disparity isn’t just about representation—it’s about economic power, wealth creation, and community resilience.
In Milwaukee and communities across Wisconsin, we see this dynamic playing out daily. Black-owned restaurants, beauty salons, barbershops, tech startups, and professional services firms don’t just provide goods and services—they provide jobs, sponsor youth sports teams, donate to local causes, and reinvest profits back into neighborhoods that need every dollar they can get. When we support these businesses, we’re not just making purchases; we’re building an economic ecosystem that can withstand external pressures and political winds.
Bryant’s message resonates particularly strongly during these challenging times: economic empowerment isn’t about charity or guilt—it’s about smart business. When Black consumers consciously choose to support Black-owned businesses, we’re not just making a cultural statement; we’re making an economic investment in our own communities’ futures. Every dollar spent at a Black-owned business has a multiplier effect, circulating through the community multiple times before leaving.
This August, as we celebrate Black Business Month, we must move beyond passive recognition to active participation. This means researching and patronizing Black-owned businesses in our neighborhoods. It means encouraging our employers, organizations, and institutions to include Black-owned businesses in their vendor networks. It means leveraging social media to amplify Black entrepreneurs and connecting them with customers and opportunities.
Milwaukee native Kennita Hickman, owner of Catera Omnivision takes “buying Black” literally; during the COVID-19 pandemic, when resources became scarce, she turned to Black and other minority owned businesses to fill her needs. Filling her home with everything from minority produced housewares and clothing, to hygiene products. As she began to make the switch to small, independently produced products, friends and family began to take notice. From these inquiries, she began cultivating individualized lists of BIPOC owned products for families who wanted to replace their reliance on big box retail brands.
The current political and corporate climate has made clear that external validation and support for Black economic advancement cannot be guaranteed. DEI programs will come and go. Political winds will shift. Corporate commitments will waver. But our economic power—when exercised collectively and strategically—remains constant.
Black Business Month isn’t just about celebrating entrepreneurship; it’s about recognizing economic self-determination as a cornerstone of community resilience. In an era of uncertainty, Black-owned businesses represent stability, opportunity, and hope. They deserve our support not because of charity, but because of necessity—theirs and ours.
This month, make a conscious effort to Buy Black. Utilize ready-made resources such as the MKE Black app, Catera Omnivision, or reach out to the African American Chamber of Commerce and the Wisconsin Black Chamber of Commerce to find businesses to suit your needs.
The decision is ours: Will we continue to depend on systems that have proven unreliable, or will we build our own economic foundation that no external force can shake? This August let’s choose economic empowerment. Our communities—and our futures—depend on it.