"I don’t recall being aware of Black-owned businesses as a child, and that realization saddens me. Of course, they existed—but they weren’t visible. Education on Black entrepreneurs like Madam C.J. Walker was limited, major retailers didn’t highlight Black businesses, and social media wasn’t around to help us discover them. With only 3 percent of businesses today being Black-owned, representation was even scarcer back then.
To be honest, the idea of Black entrepreneurship never even crossed my mind as a kid. I knew we could be teachers, doctors, and lawyers—I saw that in my family firsthand. But business ownership? It felt out of reach. Even now, I have to remind myself to seek out Black-owned businesses because the marketplace is designed to keep them in the margins.
This reality is disheartening, but we have the power to change it. Black businesses exist beyond February, and our support should, too. While Black History Month is an important time to amplify them, that energy shouldn’t fade when March begins. Prioritizing Black-owned businesses year-round is not only a must for economic vitality but also a necessary step toward true equity. Here’s why, you know, beyond the fact that it’s the right thing to do:
The Black-white wealth divide is getting bigger
According to Brookings, the wealth gap between Black and white Americans has widened significantly since 2010. To put it plainly, one in five white households hold over $1 million in wealth, while for Black households, that number drops to one in 20. While overall wealth for Black households has increased in recent years, wealth disparity has also increased—proving that systemic racism is still successfully running rampant.
I recently saw an Instagram video from the account Everyday is Juneteenth that explains wealth disparities in one of the clearest and most relatable ways I’ve ever heard—by comparing Black and white wealth to a game of Monopoly.
Imagine we’re playing Monopoly, and we play for 10 rounds. For the first five rounds, I take all your earnings and force you to build my wealth while you gain nothing. In the next three, I let you earn—but only with lower-value properties—then burn down everything you own just as you start making progress. Finally, in the last two rounds, I have the audacity to blame you for not being successful and insist that “just working harder” is the answer.
Would you even want to keep playing? This setup isn’t just unfair—it’s designed for failure. And unless I actively redistribute what I stole from you and invest in your success, you’ll never truly have a fair shot.
“Black entrepreneurs pay thousands more to start businesses, despite having less access to wealth in the first place.”
Many like to argue that systemic racism no longer exists and that any disparities between Black and white people—or between Black people and other People of Color—are due to the Black community’s supposed inferiority in skill, work ethic, education, or cultural values. This argument conveniently ignores over 400 years of stolen wealth, destroyed opportunities, and systemic barriers (from enslavement to Jim Crow to destroying self-sustaining Black neighborhoods like Greenwood in Tulsa, Oklahoma) that have deliberately prevented Black individuals from building generational prosperity—all while racist stereotypes were used to justify these injustices.
Little effort has been made to repair the damage or redistribute even a portion of the wealth needed to create economic equity and justice. And the few efforts that have been made? They’ve been met with intense backlash, further compounding the struggle for an already disadvantaged community.
Black businesses still face an uphill battle
Just as there are overall wealth disparities between Black and white households, Black-owned businesses also face vast inequities. The good news? Black business ownership and revenue have grown in the past decade. However, this growth hasn’t translated into true economic equity. As of 2021, Black-owned businesses comprised just 3 percent of all businesses and generated only 1 percent of total gross revenue. To put that in perspective, Black Americans make up 14 percent of the U.S. population. Meanwhile, white-owned businesses comprised 85 percent of all corporations and 93 percent of all revenue. Additionally, Black businesses tend to be smaller—two-thirds have fewer than 10 employees—and are less likely to survive than their white counterparts, furthering the economic gap.
With such glaring statistics, coupled with racial prejudice and systemic barriers, Black-owned businesses face even greater challenges in securing funding through grants, venture capital, and loans. In an interview with Allure Magazine, the founder of Oui The People, Karen Young, stated, “I believe there is a disconnect between the perception of Black people and our actual intelligence and skills.”
“… unless a major issue is trending or it’s a designated moment of awareness—such as Black History Month—we often forget that the work toward equity must continue long after it’s popular.”
Young continues to explain that many investors assume Black-owned businesses won’t appeal to white customers, making them seem like a financial “risk.” This forces Black founders to rely more heavily on business loans—yet they are less likely to qualify for them. And when they do, they often face predatory interest rates that push them deeper into debt. In the end, Black entrepreneurs pay thousands more to start businesses, despite having less access to wealth in the first place. The barriers to entry in entrepreneurship for Black founders are yet another example of how systemic racism continues to suppress Black wealth.
Supporting Black businesses should be a lifestyle, not a hashtag
When advocating against injustice and working toward equity for marginalized communities, the effort must be ongoing. Systemic disparities don’t disappear when the spotlight fades—they have real consequences that marginalized communities endure every day. Yet, unless a major issue is trending or it’s a designated moment of awareness—such as Black History Month—we often forget that the work toward equity must continue long after it’s popular.
If we limit our support for Black businesses to Black History Month, they will continue to face significant disparities, further deepening the economic inequities that harm the Black community.
We have the power to use our dollars to combat these inequities. By intentionally investing in Black-owned businesses year-round, we amplify their relevance, necessity, and value in the marketplace. Prioritizing Black-owned businesses is a tangible way to help correct over 400 years of stolen wealth, labor, and resources—creating a more just and equitable economy where all can thrive.
Beyond the economic impact, supporting Black-owned businesses enriches our lives. It introduces us to the beauty, creativity, and exceptional quality of products and services we might not have otherwise discovered. While we can’t avoid being consumers in this society, we can ensure that our spending not only advances economic justice but also infuses our homes and communities with diverse brilliance, artistry, and culture.
Shopping Black takes effort—here’s how to make it easier
I’m going to be real with you—choosing to invest in Black-owned and other marginalized-owned businesses takes more effort than a quick Amazon Prime order. And with the rollback of DEI initiatives, major retailers may start cutting ties with Black-owned brands, making it more crucial than ever to seek them out, support them, and spread the word so others can do the same.
Thankfully, you don’t have to search alone. Many online creators are curating Black-owned business shopping guides to help you find exactly what you need. And here at The Everygirl, we make it even easier with round-ups like this one and this one so you can shop brands you’ll love while making a meaningful impact.
“Prioritizing Black-owned businesses is a tangible way to help correct over 400 years of stolen wealth, labor, and resources.”
I recommend saving these guides—and any others you come across—in a way that’s easy to access. You could create a bookmarks folder in your browser labeled “Black-Owned” or use your Notes app to keep links to your favorite shops. Find a system that works for you so that supporting Black-owned businesses becomes a habit, not just a one-time action.
And don’t stop there! Do the same for businesses owned by other marginalized communities, expanding your commitment to justice, equity, and inclusion beyond just moments when it’s trending.
Remember, we’re playing a real-life game of Monopoly. None of us were there when this game started over 400 years ago, but we are responsible for closing the gaps it created. The difference? Unlike Monopoly—and unlike what those before us may have believed—we’re not playing against each other. We’re on the same team. And when the most disenfranchised among us thrive, we all thrive. It really is that simple.
Caroline Sumlin, Contributing Writer
Caroline Sumlin is a writer, author, and content creator specializing in topics ranging from self-worth, lifestyle, wellness, motherhood, education, society, and culture. Caroline received her Bachelor of Arts degree in Journalism from Howard University in Washington, DC. Driven by her passion for freedom and justice, Caroline crafts articles that urge readers to reflect more deeply and critically about themselves, their lives, and the world around them.
Feature graphic images credited to: Adobe Stock, Adobe Stock, Adobe Stock, and Jemilla Mills-Smith | Dupe