COAL's Call to Action for National Black Business Month

COAL recognizes August as National Black Business Month. Every August, National Black Business Month shines a well-deserved spotlight on the contributions, creativity, and tenacity of Black entrepreneurs across the United States.

Established in 2004 by historian John William Templeton and engineer Frederick E. Jordan Sr., the month-long observance is designed to celebrate Black-owned businesses and highlight the importance of economic inclusion and support. During the 31 days of August, Jordan and Templeton wanted government officials, community leaders, and venture capitalists to focus efforts on creating a more hospitable environment in which black-owned businesses can grow. COAL proffers that this must be an everyday priority—not just an annual one-month effort.

As you would agree, our collective strategic goal must be to build sustainable wealth across the Black community, and that requires a vibrant and thriving Black Business sector,

Respectfully,

COAL Board of Directors

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"Our most powerful nonviolent weapon is... also our most demanding, that is organization.

To produce change people must be organized to work together in units of power," - MLK

COAL strongly encourages its membership and community of interest to recognize Black Business Month by spending $$$ at Black-owned businesses and with Black self-employed service providers.

Just as importantly, COAL encourages Black businesses to support and reinvest in their community.

Recognizing that many businesses within the Black community are not Black-owned, COAL calls upon these entities to prioritize local hiring and to spend in the neighborhoods where they operate.

August is National Black Business Month; in recognition, please:

• Circulate and re-circulate your hard earned dollars within the community;
• Encourage and Support Black Entrepreneurship;
• Utilize our Black professionals:: doctors, dentists, lawyers, financial analysts, IT, business, and political consultants, etc...;
• Use 'word of mouth' to actively market Black businesses that have provided quality service / products;
• Demand quality services and products from Black-owned businesses; and then pay for said services and products as you would with majority-owned businesses; resist insisting that Black-owned businesses 'cut you a deal', thereby reducing their profit margins;
• Support legislation that supports small business growth;
• Support financial institutions that support Black businesses; fight to knock down barriers and improve access to capital; and Invest in Black-owned businesses;
• identify and support economic generators that create opportunities that encompass our communities (the South Suburban Airport is a great example);
• Elect and re-elect officials with a proven track record of expanding opportunities for Black business;
• Demand that Minority Business Enterprise (MBE) policies at all levels are more than words on a document, demand results; demand transparency in reporting progress towards meeting and exceeding MBE/WBE/DBE goals;
• Promote upward mobility for our professionals in all sectors;
• Challenge the status quo of limited access to Corporate Boards;
• Provide Internships to our youth;
• Mentor a business; Pass on the experiences you've gained so that others can mitigate the challenges of starting / sustaining their business;
• Black businesses: form alliances and purchase collectively to secure lower pricing on inventory and supplies;
• Black business owners: focus on expanding your knowledge of all areas of your business beyond just your core service or product: financial, technical, customer service, marketing, strategic planning, relationship management, negotiations...; and practice succession planning.

 During the month of August and every month, Buy Black, whenever and wherever it works for you and yours, and please be intentional.