August is Black-owned Business Month, and There’s Good News

Thousands of Black-owned businesses know August holds a special place on the calendar for building brand awareness and increasing traffic. Since 2004, August has stood tall as Black-owned business month.

In Charleston, the owners of the boutique, Tiny Tassel, posted a discount on social media for customers, writing, “We’re celebrating in the best way possible by helping you save while supporting incredible Black-owned businesses across the Lowcountry!”

The African American Entrepreneurs Association used social media to remind members of its selection as the U.S. Small Business Association’s 2025 Community Partner of the Year. AAEA also repeated its commitment “to empowering entrepreneurs with the resources, education, connections, and advocacy they need to grow and thrive.”

Black-owned employer businesses, which have at least one employee, have moved the needle substantially the past six years to a milestone achievement.  

According to the Brookings Institute, the number of Black-owned employer businesses increased 62% in 2023–a dramatic uptick compared to the overall rise of employer-businesses in the U.S., which was reported at 3.3%.

The COVID-19 pandemic dealt Black-owned businesses a crippling blow initially. But in the years since, new Black business creation has sparked a surge that topped pre-pandemic levels. Today, Black-owned businesses claim a little more than 3% of U.S. total businesses–up roughly from 2%.