August marks Black Business Month and AfriBlocks joins the world in the celebration of black-owned businesses. Black people, and by extension, the businesses they own, have faced systemic challenges that have hampered the growth of black-owned businesses. August has been set aside as the month during which black businesses and their achievements are celebrated.
Why celebrate black business month?
Black-owned businesses face a number of challenges that largely find their root in the disparities caused by racial discrimination. The systemic sidelining of black-owned businesses affects the growth of the companies. In the United States, only 4% of black-owned businesses make it past the 3-and-a-half-year mark. For comparison, 55% of all businesses make it past the same time frame. This is just one example of the difficulties faced by black business owners in their endeavors.
We are at a critical point in history for the growth of black businesses. The world largely recognizes the need to offer more support to black-owned businesses as issues of inclusivity are driving conversations around the globe. An increase in support for black businesses will influence wider economic growth for the black community as a whole. As these businesses grow and are able to be sustained for longer periods of time, wealth increases in the black community and we can start to see more generational wealth being built.
Access to financing is one of the biggest challenges being faced by black businesses. Credit and loans are not as available to black business owners as they are to white founders. Without sufficient capital, it is highly likely that a business will fail. While many black founders are looking to grow their businesses, they require a solid financial system that will back them and their enterprises.
AfriBlocks offers support to black businesses
As a black-owned business, AfriBlocks understands the challenges that other businesses owned by the same demographic might be facing. As a part of celebrating Black Business Month, we have come up with the Black Owned Business kick-starter package that is designed to assist black businesses to find their feet quicker. “The kick starter package is our way of encouraging more black founders to get their businesses moving”, said Tongayi Choto, CEO of AfriBlocks. “The support of black businesses should start from within the black community and we are here to offer as much support as possible to black founders that need it”, he added.
Through this kick starter package, black-owned businesses are eligible to receive a free logo design (value of logo capped at $100) and/or a 20% discount off of any first service that they hire from AfriBlocks. The offer has been extended to all black-owned businesses around the world. Some of the services that are available through AfriBlocks include software development, virtual assistance, digital marketing, and graphic design.
To claim this promotion, visit https://afriblocks.com/aug-black-business-month/ and we will get you started on your journey to becoming a successful black founder.