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In 1890, The Penny Savings Bank, the first black-owned and black-operated financial institution in Alabama, was founded by William R. Pettiford. [6] In 1997, the 19,077 businesses owned by black people in Alabama generated around $1 billion in revenue and employed 13,232 people.
In the United States, Black-owned businesses (or Black businesses), also known as African American businesses, originated in the days of slavery before 1865. Emancipation and civil rights permitted businessmen to operate inside the American legal structure starting in the Reconstruction Era (1863–77) and afterwards.
Arthur George Gaston (July 4, 1892 – January 19, 1996) was an American entrepreneur who established businesses in Birmingham, Alabama.He had a significant role in the movement to remove legal barriers to integration in Birmingham in 1963.
39% of Black-owned businesses were owned by Black women in 2021, while men owned 53%. In the 2023 fiscal year, the SBA backed 4,781 loans to Black-owned businesses, totaling $1.45 billion.
However, they remarkably bounced back even faster, opening 28% more businesses than pre-pandemic. Black-owned businesses in the U.S. are major contributors to the economy, generating $206 billion ...
In honor of Black History Month, here are 10 Black-owned businesses and services in Elk Grove. If you know of more Black-owned businesses, services or nonprofit organizations in Elk Grove, feel ...
Some notable black-owned businesses that emerged in the 1930s include the St. Louis American newspaper, founded in 1928, and the North Carolina Mutual Life Insurance Company, which was established in 1898 and became one of the largest black-owned businesses in the country.
February is nationally recognized as Black History Month and is an opportunity to support black-owned businesses. It's Black History Month. Here are 7 Black-owned small businesses on the South Shore