Black-owned businesses play an essential role in the U.S. economy. They create jobs, spark innovation and help strengthen communities.
In 2023, black-owned businesses brought in over $211 billion in revenue and provided jobs for 1.6 million people. And their impact goes beyond the numbers, empowering small business ecosystems and inspiring future entrepreneurs.
This Black History Month, we’re highlighting four practical ways you can make a difference. Whether it’s through shopping, promoting or investing in Black-owned businesses, your support can help build stronger communities for everyone.
1. Shop at Black-Owned Businesses
One of the most direct ways to support Black-owned businesses is to shop intentionally. Whether you’re buying everyday items, booking services or searching for unique gifts, prioritizing Black-owned businesses ensures your dollars contribute to growth where it matters.
Start by exploring online directories like BuyBlack.org, ByBlack or AfroBizWorld to discover local or online businesses that align with your needs. From fashion and home goods to beauty services, fitness studios and professional consulting, Black-owned businesses offer industry-leading products and services.
2. Promote on Social Media
Social media is a powerful tool for amplifying the voices of Black-owned businesses.
Share your positive experiences through posts, stories and reviews to help increase their visibility. Tag businesses in your content to introduce them to your network, which can lead to new customers and opportunities.
Don’t underestimate the impact of a simple recommendation — word of mouth, whether online or offline, remains one of the most trusted forms of marketing. Writing honest reviews on platforms like Yelp or Google can help potential customers feel more confident trying out a business for the first time.
3. Invest in Black-Owned Businesses
Providing financial support to Black-owned businesses is another meaningful way to promote long-term growth. Many small businesses struggle to access capital, making investments and loans critical for their expansion.
Consider supporting businesses through crowdfunding platforms or small business investment programs designed to offer entrepreneurs the resources they need. Additionally, some organizations connect investors with Black-owned ventures, offering opportunities to back businesses making a local or national impact.
If you’re looking for a hands-on approach, explore ways to mentor or provide advice beyond financial backing to promote sustainable growth.
4. Participate in Community Events
Supporting Black-owned businesses is more than just financial — it's about showing up, building connections and fostering lasting relationships. Community events like markets, fairs and festivals provide the perfect space to discover new businesses and directly support entrepreneurs. By attending, you’re not only contributing financially but also building connections that allow Black-owned businesses to expand their networks and thrive.
For example, Comerica recently sponsored the 43rd Annual MLK Parade in Dallas, a vibrant celebration of Dr. King’s legacy of service and unity. Events like this spotlight Black-owned businesses, giving them the visibility and community engagement needed to grow. By participating in similar events, you can help amplify their success and impact local economic development.
Supporting With Purpose
Ready to make a difference this Black History Month and beyond? Start by exploring Black-owned businesses in your area or online. This is a meaningful way to support entrepreneurs and strengthen your community.
Looking for information to help support your personal financial goals? Visit the Comerica Insights page to see our latest articles.
