August marks National Black Business Month, a time to celebrate the resilience, contributions, and success of Black entrepreneurs. As President Calvin Coolidge once said, “the chief business of the American people is business.” This is as true today as it was nearly a century ago — and it holds for every American, especially the Black community. Black-owned business creation is surging. From 2017 to 2022, the number of businesses owned by a Black entrepreneur increased by nearly 57% . During those years, at least half of the new businesses were Black-owned. The US Census estimates that Black entrepreneurs own 3.5 million businesses with an annual payroll of $40.5 billion . Close

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