Before the month concludes, We W.I.L.L. Thru Sports wants to recognize National Black Business month this August. The month is celebrated annually to bring awareness to the importance of black-owned businesses.
Black Business Month – Challenges
Black-owned businesses often have lower income/revenue. Hence, they can only hire a limited number of employees. In addition to this, they are more likely to close down sooner than their white-owned counterparts. To mitigate, or at least lessen this sad reality, we must research and support the black-owned businesses offering products that we wouldn’t mind spending our dollars on.
Recognizing Black-Owned Businesses
There are many reasons why it is essential for us all to recognize black-owned businesses. Speaking of which, we have outlined a few below:
- Black-owned businesses create other entrepreneurial opportunities & employment opportunities for underprivileged members of society.
- Black-owned business fuel the economy.
- Black-owned businesses give access to government grants,
- Black-owned business model opportunities for innovative young minorities.
Benefits for Young Entrepreneurs
The youth interested in starting their own businesses have an opportunity to learn necessary skills such as time management, critical thinking, teamwork, leadership, problem-solving, and self-discipline. All these skills can help them throughout their lives, not just academically.
Last, but not least, We W.I.L.L. Thru Sports would like to invite you to consider supporting black-owned businesses; especially those of young people so as to not let them lose faith in their capabilities and the possibility of a successful business. You never know which of our youth would come up with the next best sports, fashion, entertainment, or healthcare idea, that could change the world. All they need is empowerment, support, and the confidence to believe in their capabilities.