Support for black-owned businesses has increased significantly over the past few years, particularly in the wake of the Black Lives Matter campaign. Many people want to help these businesses and contribute to their expansion. Finding a complete list of black-owned companies, however, might be difficult. This article is a list of diversely diversified black-owned companies operating in the US.
Let’s address some related queries before moving on to the list. According to the Small firm Administration, the typical small firm in the US employs ten people. However, this can differ significantly depending on the area and sector. Some of the most lucrative industries for organizations to operate in are those related to healthcare, technology, finance, and real estate. According to Forbes, the top 5 most successful companies are:
As a result, Apple is the company that is now making the most money, with a net income of approximately $57 billion in 2020.
1. The Lip Bar, Carol’s Daughter, Fenty Beauty, and Beauty and Personal Care
2. Pyer Moss, Brother Vellies, Telfar, and Fashion and Retail 3. Food and Drink
Sylvia’s Restaurant
Uncle Nearest Premium Whiskey
Essence Bakery Cafe
4. The Honey Pot Company, Black Girl Sunscreen, Nubian Heritage, and Health and Wellness 5. Tyler Perry Studios, Essence Communications, BET Networks, and media and entertainment
6. Professional Services
The Links, Inc.
The Raben Group
Black Girls Code
Technology – Walker & Company Brands – Partpic – Blavity 8. The Peebles Corporation, OneUnited Bank, BCT Partners, and Finance and Real Estate This is but a small sample of the numerous black-owned companies in the US. Supporting these businesses not only enables their expansion but also helps to reduce the wealth gap between races. So the next time you’re looking to buy something, think about supporting a black-owned company.
Business failure can occur for a variety of reasons, but some of the more frequent ones are bad planning, a lack of funding, inefficient marketing tactics, subpar management, and a failure to adjust to shifting market conditions. Black-owned enterprises may also be disproportionately affected by systemic problems including discrimination and a lack of funding and resources.
The amount of new firms that fail each year is not mentioned in the text, but studies have indicated that roughly 20% of new enterprises fail in their first year and that 50% of businesses fail within their first five years.