By Karen Stokes
August is National Black Business Month, a time to acknowledge and celebrate Black-owned businesses.
Approximately 10% of all American businesses are Black-owned, that’s 3.12 million Black-owned businesses in the country.
Black women are at the forefront of this growth. In 2020, the number of Black women-owned businesses increased by 20.2%, surpassing the overall growth rate of Black-owned businesses at 14.3% and women-owned businesses at 3.1%. This trend highlights the role Black women play in the business landscape.
The primary sectors in which Black-owned businesses operate include health care, social work, repair and maintenance, beauty salons, restaurants, and more.
Closer to home, Black people own 12.3% of small businesses in the Milwaukee area, according to the 2022 U.S. Census data.
There is tremendous potential for more Black-owned businesses to start and grow.
Milwaukee area entrepreneurs discussed issues with finance and attracting consumers.
Andre Lewis owner of Comptech Technology Consulting, which has been in business for 20 years, provides high-quality and cost efficient solutions with not only Personal Computers, but Security, Home automation, networking and Home Theater.
“I don’t believe it’s just because I was Black but it’s hard to get your name out in the city. As long as you’re doing good work, word gets around.
Carter Creations, a family owned florist, has operated in the Milwaukee community for over four decades. Carter’s began as an every occasion florist but soon was known as the wedding florist.
“Now our primary business is funerals,” said Eric Carter. “A transition once we got into the funeral market, we built relationships with funeral homes, and they began calling us directly. We’re still an everyday flower shop for hospitals, Valentine’s Day, birthdays, and special occasions.”
Milwaukee business Diors Gallery, is a family restaurant owned by mother and daughter, Robin and Danielle Eastern. Necessity has directed change to their business model and they recently pivoted from their original business model plan and are relaunching Diors Gallery to Theme Dining Experiences, featuring live talk show dining, Mingle with the Singles and Brunch and Bingo on Sundays.
“We wanted to bring some clean fun to the city,” said Danielle. “We prayed and asked God what He wanted us to do. All of our previous challenges forced us into a place of innovation and creativity.
Business owners reflected on past challenges with securing business funding, and noting that while organizations and individuals frequently seek donations from Black businesses, they often spend significant event dollars outside the Black community.
Many Black business owners believe that increased community support would bolster their success.
By supporting Black-owned businesses, you not only contribute to economic empowerment but also inspire the next generation of Black entrepreneurs.