August is National Black Business Month when Black-owned businesses across the country are highlighted.
According to the Black Owned Business website, Black business owner’s account for about 10 percent of U.S. businesses and about 30 percent of all minority-owned businesses. According to the U.S. Census Bureau, that amounts to approximately two million companies owned by African Americans. Nearly 40 percent of Black-owned businesses are in health care and social assistance, repair and maintenance, and personal and laundry services. Other categories include advertising firms, auto dealerships, consulting services, restaurants, barbershops, beauty salons, and more.
Among cities, New York has the most black-owned businesses in the U.S. followed by Atlanta. The highest ratio of Black-owned businesses is in Washington, DC where 28 percent of all businesses are Black-owned. The growth of Black-owned franchise businesses has been explosive. In 2012 over 30 percent of franchise businesses were black-owned, up from about 20 percent five years previous.
Historian John William Templeton and engineer Frederick E. Jordan Sr. founded National Black Business Month in August 2004 to “drive the policy agenda affecting the 2.6 million African-American businesses.“
Becoming a successful business owner no matter what kind of business is all about following your passion, working hard everyday and never giving up.
Charlene Boyd Payton of Joliet knows this well. The owner of BP Events, a full-service event planning business, Boyd Payton has been in business for 18 years.
“We specialize in social and corporate events, and tailor our services to your unique needs. We offer a comprehensive option where we plan, design, and implement all aspects of your event,” she said.
“We also offer ‘day of” coordination for planned events, so that you are free to enjoy your special day, while we manage the details in order to achieve your desired outcome.”
BP Events has hosted several local ‘Pop-Up Shop’ events called “ELEVATE,” which are designed to uplift local businesses in the community and offer business owners an opportunity to network and showcase a wide array of products and services. They recently held a Pop-Up Shop to showcase small Black owned businesses at the DuPage Medical Group Field where the Joliet Slammer’s baseball team plays. There were close to 25 businesses showcasing at the PopUp, many of them startup but also some established businesses were on site as well. One of them was Cheese Cake By James, located in downtown Joliet. Many vendors gave samples of their products and food offerings during the 2day weekend event.
Boyd Payton decided to follow her passion and started BP Events nearly 20 years ago after graduating from Southern Illinois University in downstate Carbondale.
“In the early days, I frequented bookstores and became self-taught by reading a lot of ‘how-to’ books on topics like starting your own business, creating a business plan, etc,” she recalled. “Since then, I have continued my education by completing several professional certifications in event planning. Most recently, I completed a master’s degree in Adult Education which I’m utilizing in the development of my own event planning educational program and coursework.”
Boyd Payton added that she was drawn to event planning because she always enjoyed organizing and planning special occasions. “I experience genuine enjoyment and satisfaction when events and celebrations are executed according to plan and my clients create lasting memories,” she said. “As my slogan says, I am ‘Dedicated to Detail & Perfection’.”
The BP in her business name stands for “Business Personified,” and said having attended a lot of events personally, and working with many clients over the years, she fully appreciates the importance of making each event unique and memorable.
“By bringing what is ‘basic’ to life, our events transcend the ordinary to create experiences that your guests will remember for a lifetime,” she said.
August is National Black Business Month. Boyd Payton pointed to a study from the Harvard Business Review, which stated that 17 percent of Black women are in the process of starting or running new businesses, compared to just 10 percent of white women, and 15 percent of white men.
“I believe it’s an exciting time to be a Black female entrepreneur,” she said.
“Unfortunately, Black women continue to face many forms of unconscious bias and obstacles such as securing the necessary access to capital to ensure that their businesses can mature and grow long-term.”
As a black business owner, Boyd Payton, 41, said she understands that a competitive advantage can only be achieved by maintaining an impeccable brand and professional reputation. “I actively seek out opportunities to support other Black-owned businesses within the community, as I believe supporting one another is critical to our collective success,” she said.
“National Black Business Month is a good opportunity to bring specific attention to Black businesses on both the local and national level. As a member of the black business community, I am dedicated to supporting Black-owned businesses year-round,” she added. “I believe this is the best way for us to achieve economic security, financial freedom and to build multi-generational wealth while providing valuable products and services to customers.
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