RLJ Lodging Trust, one of the largest publicly owned Black businesses, reported total assets of $5,92 billion in June 2020. With the CoronaVirus Pandemic, businesses are now opting to launch websites so that they can take their businesses online. Many African American business owners fund their own businesses due to the lack of capital.
There are more than 2 million Black-owned businesses in the United States. 58% of Black business owners said their business’s financial health is “at risk” or “distressed” during the COVID-19 pandemic. When you’ve had an excellent experience with a black-owned business, become a resource for other shoppers.
Supporting Black businesses also means supporting Black communities, as they are usually more than just places that offer goods and services,”. The movement to support black businesses and entrepreneurs, as a means to combat racial injustices, has gone viral on social media, with hashtags, documents and consumer apps seeing their highest rate of traffic to date.