Historically, Black Americans have struggled to gain financial backing and funding when starting a business. Decide DeKalb Development Authority is bringing to light the struggles and successes of Black business owners this month with Black Business Month.
The roots of Black Business Month go back to 2004 when engineer Frederick Jordan and historian John William Templeton set out to drive awareness of Black business owners across the country to advance policies.
In 2019, a study by the Federal Reserve Bank reported the median net worth of white families was $188,200 – that’s nearly 8 times that of their Black peers which was $24,100.
By recognizing the contributions of Black entrepreneurs and business owners, Decide DeKalb is holding events and highlighting organizations and business owners on social media this month.
From Cereal Lab desert bar, Brave and Kind Bookstore, and Corporate Environmental Risk Management engineering firm to Bear and Honey Candle company, Black-owned businesses in DeKalb contribute to the economic prosperity of the region.
A South DeKalb pop-up business incubator will be held from 9 a.m. to 3 p.m. on Aug. 31 at New Life Community Alliance, 3592 Flat Shoals Road, Decatur, GA, 30034. Register here.
Dorian DeBarr, president of Decide DeKalb, said there are 30,000 Black-owned businesses in Georgia yet fewer than 4,000 in DeKalb.
“We have work to do to encourage Black entrepreneurs. We’ll continue our initiatives and partnerships to actively support and promote opportunities to encourage the success for our Black-owned enterprises,” DeBarr said.