Georgia Minority Supplier Development CouncilPlease join the GMSDC family in celebrating National Black Business Month (NBBM) throughout the month of August. Since 2004, the nation has observed a month-long commemoration of the history, contributions and accomplishments of black-owned businesses. It is important that we take note of this all-important business segment and the role it plays in the US economy. There are roughly 3 million Black businesses in the US that employ more than one million people and generate $200 billion in revenues annually.
National Black Business Month was founded in August of 2004 by engineer Frederick E Jordan and Historian John W. Templeton, two prominent business owners and leaders in the National Black Chambers of Commerce. The goals of the initiative were to bring awareness to the Black business community, encourage people to patronize Black businesses, reduce unemployment in Black neighborhoods and generate economic mobility for African Americans. Atlanta has the second highest percentage of black business ownership nationwide, at 20% of all companies in the state. It is worth noting that the very concept of supplier diversity got its start as a way for progressive corporations and governments to do more business with Black suppliers. This concept was later expanded to include other ethnic groups and categories. Black businesses are well represented in practically every business category. Today, they are most prominent in health care/social services, professional services, transportation/logistics, personal services, retail and construction.
Georgia is home to some of the largest and oldest Black businesses in America, many of whom are long-term MBEs in the GMSDC family. Some of our long-standing, black businesses include:
• Accolades
• B&S Electric
• Battle & Battle Distributors
• Corporate Temps
• Dove Mailing
• H.J. Russell
• Prestige Packaging
Our state has been recognized on multiple occasions for a positive climate for startups, minority business and entrepreneurs. Even in the midst of these challenging times, it is appropriate that we pause to celebrate the milestones and achievement of black businesses not only in Georgia, but across the nation. Many of these firms are fighting for their survival in a pandemic-driven recession. We must do all we can to protect, preserve and sustain these companies who are so critical to our economy, and that means creating opportunities to utilize their goods and services in the months ahead.
We look forward to sharing new opportunities with our minority businesses during Minority Business Opportunity Week. Please mark your calendar for our Virtual Business Opportunity Exchange on September 14 – 18, 2020. This year’s BOE will be full of opportunities, matchmaking, and networking.
