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The BIPOC Community: Celebrating one of the Powerhouses of the U.S. Economy
This story is a part of the Black Business Month series
August is Black Business Month, a time to honor the significant contributions of Black-owned businesses to the U.S. economy. From small startups to large enterprises, Black entrepreneurs play a crucial role in driving innovation, creating jobs, and fostering community growth. This celebration not only highlights their achievements but also underscores the challenges they face and the support they need to thrive.
The Rise of Black-Owned Businesses
The growth of Black-owned businesses in recent years is remarkable. According to a report by the National Black Chamber of Commerce, there are over 2.6 million Black-owned businesses in the United States, generating more than $150 billion in annual revenue. These businesses span various industries, from technology and finance to healthcare and retail.
One notable example is Walker & Company, a health and beauty company founded by Tristan Walker. His company, which focuses on providing products for people of color, was acquired by Procter & Gamble in 2018. This acquisition highlights the increasing recognition and value of Black-owned businesses in the mainstream market.
