Black Business News | Directory of Black-Owned Businesses

June 4, 2020

Black Couple Raises Over $1M to Rebuild Their Sports Bar After Rioters Burned It Down

Korboi and Twyana Balla, owners of Scores Sports Bar in Minneapolis that burned down

Korboi and Twyana Balla, an African American entrepreneurial couple from Minneapolis, were devastated when rioters destroyed and burned down their new business, Scores Sports Bar, while protesting the brutal killing of George Floyd. However, within just a few days, more than 37,000 people contributed more than $1 million to help them rebuild the bar.

June 3, 2020

Black Female Psychologist Creates First Ever Therapy Card Deck For Women of Color

Ebony Butler, Ph.D., creator of My Therapy Cards

Ebony Butler, Ph.D. is a Licensed Psychologist and Food Relationship Strategist who is also the creator of My Therapy Cards - the first card deck and self-help tool of its kind created to help women of color work through self-limiting beliefs and habits keeping them from developing into their highest selves.

June 2, 2020

#BankBlack -- Top 23 Black-Owned Banks, Credit Unions, and Other Financial Institutions

The #BankBlack revolution has already begun. Thousands of African Americans across the country are transferring their money to Black-owned banks that invest in urban communities and businesses. Initiated by several celebrities like Solange, T.I. and rapper Killer Mike, the initiative is in response to years of police brutality, discrimination, and other racial problems that have long existed in America.

Only 4 Fortune 500 Companies Have Black CEOs — None of Them Are Women!

(From left to right) Marvin Ellison, President and CEO of Lowe's; Kenneth C. Frazier, CEO of Merck; Roger Ferguson, President & CEO of TIAA; and Jide Zeitlin, Chairman & CEO of Tapestry

There are 500 companies on the Fortune 500 list, but according to CNN, only 4 of them are African American. That's less than .01% and even worse, none of them are women. This is not necessarily anything new, but the number of Black male and female leaders at major corporations did seem to be increasing at one point. But times have changed again, and the lack of diversity in Corporate America's management positions is starting to show it's ugly head again.

June 1, 2020

Black-Owned Burger Joint in LA Closes Doors After 52 Years in Business

Bernard's Burgers, a Black-owned burger stand in South Central, Los Angeles, has closed its doors for good after 52 years in service. The current owner, 69-year old Nathan Murray, decided to close the business partly due to the coronavirus pandemic as well as his retiring age.

May 29, 2020

Black Entrepreneur Used His Grandmother's Secret Recipe to Launch His Own Chocolate Brand

Meet Patrick Glanville, founder of 3 Some Chocolates, one of the only such Black-owned and operated companies in the country. As a chocolatier and culinary artist, his company fulfills their clients' chocolate fantasies by combining three flavors into one, offering it in a pack of three and calling it a "3 Some" that can be shared with everyone.

Virtual Black Fitness Trainer Receives $400K Investment From Two Private Equity Firms

Meet James Fisher Jr, founder and CEO of Mission Fit Fitness, which has just received a $400K investment from two private equity firms - Wellvest Capital and the Green Health Firm. James, who is a personal trainer and fitness instructor, helps employers who are turning to online and virtual options to help meet their employees' health and wellness needs.

Helpful Resources:

Top Black Business Conferences, Workshops, and Seminars:

Every year, many Black business conferences are held across the country that specifically cater to established or aspiring African American business owners, professionals, authors, bloggers, and more. Literally thousands of people travel to network and do business at such events. These events are usually held in cities like Atlanta, Chicago, and New York, and typically include extensive training workshops, powerful speeches, power networking sessions, grand hall expos, and more. [Find an event to attend...]

Top Black and Minority Business Grants and Funding Opportunities:

From time to time, there are Black and minority business grants available to help African American and other minority entrepreneurs. Sometimes, they grants are offered by major companies, non-profit organizations, and even government agencies. Admittedly, such opportunities can be very difficult to find as many have been discontinued. Others in the past were offered as one or two year programs and did not renew. Despite this, such opportunities are real and are more often offered through local programs compared to national. [Get funded...]

Top Black and Minority Business Organizations:

There are many non-profit Black and Minority business organizations that aim to be of assistance to African American business owners. They are very helpful resources that offer valuable assets including grants, seminars, literature, consulting, and professional networking opportunities. There are also several government agencies that aim to assist minority business owners, including Hispanics, Asians, Native Americans, and even women of all ethnic backgrounds. [Find the right organization for you...]

Top Black Business Magazines, Publications and Blogs:

Believe it or not, there are hundreds of Black business magazines - that is, business-focused magazines that target African American readers. There are also many publications that are focused on professional career development. Some are local, some are national, and some are even international. Many are even available as digital publications via your laptop, tablet or smartphone. There are also many blogs that can be very helpful and resourceful to both aspiring and established Black business owners. [Find a publication that meets your needs...]

Interesting Facts & Statistics About Black-Owned Businesses:

Black-owned businesses accounted for about 28% percent of all businesses in Washington, DC, the highest ratio in the nation. Second, was the state of Georgia, where 20% of businesses were Black-owned, and the state of Maryland, with about 19% in Illinois. The state of New York, however, has the most Black-owned firms at 204,093 but this only accounts for 10.6% of the businesses in the state. Second is the state of Georgia, third is the state of Florida, and fourth is the state of Texas with the most Black-owned businesses but not necessarily the highest ratios. [Learn more...]