Reflecting On The Golden Age of Black Business
By Keely aouga
The Black business community has rich entrepreneurial roots and continues to play a vital role in the economy.
Black people in the United States have always shown a spirit of entrepreneurship, despite the hardships they have had to overcome.
Business historian Juliet E. K. Walker refers to the era of 1900 to 1930 as the "golden age of Black business," where Black businesses fueled the economy within their community.
According to Ron Busby, CEO and president of the U.S. Black Chambers Inc., this is when numerous Black business districts emerged.
'Black Wall Street'
This included the Hayti District of Durham, North Carolina, Sweet Auburn of Atlanta and the Greenwood District in Tulsa (also known as "Black Wall Street") to name a few.
Over time, Greenwood grew to house numerous thriving Black businesses, from clothing stores, barbershops and doctors' offices.
Before the Tulsa Race Massacre of 1921, many African Americans moved to the city's Greenwood district to escape racial oppression in the south.
During this era, Black businesses benefited from self-sufficiency. They also experienced drawbacks because they had limited opportunities.
Black business leaders from that era include Madame C.J. Walker and Booker T. Washington.
Today, the Black business community is vibrant and evolving, despite facing new challenges.
Dr. Ken L. Harris
The president and CEO of the National Business League said that, "Number one on everybody's list is access to capital, one of the most significant challenges for Black entrepreneurs."
Although several companies committed to supporting Black-owned businesses, many are rolling back on these promises.
Despite these setbacks, you can support Black-owned businesses selling everything from hair care products to vegan food.