“From Reconstruction, to Jim Crow, to the present day, our economy has never worked fairly for Black Americans — or, really, for any American of color.” – former Treasury Secretary Janet Yellen
For the last 15 years as a volunteer with the Atlanta Chapter of SCORE, I have been mentoring small businesses. SCORE is a national nonprofit group which coordinates closely with the U.S. Small Business Administration. I have mentored hundreds of these businesses, the majority of which are Black-owned. And I have found these entrepreneurs to be highly motivated. But my association with the African-American community of Atlanta goes back much further.
After graduating from Georgia State University, I started my work career as a community organizer in the poverty program. I will never forget what one of my Atlanta EOA work acquaintances, a formidable former Black Panther, said to me “Black power is just fine ... but what my community really needs is more green power.”
He was correct. In America, money talks. Everything else just walks. And, as Yellen correctly stated, African Americans have never had a fair shake in our economy. Only 3% of U.S. businesses are Black-owned. But first let’s look on the positive side.
Regarding African American enterprise, Georgia stands out above almost any other state. The states with the highest concentration of Black-owned businesses are Maryland and Georgia.
And when it comes to owned businesses, our own Atlanta is a national success story. In 2022, over 11% of its businesses were owned by African Americans. That is up substantially from just 7% in 2019. It is also simple to determine which U.S. geographic areas have the largest number of Black-owned businesses. They are the greater NYC/N.J. area (14,424), the greater D.C./Virginia/Maryland area (8,649), our own Atlanta (7,539), and greater Los Angeles (7,200).
It is more difficult to measure, in a relative sense, which areas have the most Black-owned businesses. It can be done, but using the proportion of Black residents to Black businesses is a very limited measure. However, using this yardstick, there are certain cities which stand out, including the greater Los Angeles area, St. Louis, Fayetteville, N.C., and the greater Washington, D.C., area
There are also studies which have analyzed our area of the nation. Some of the findings are surprising. The city which ranks first is Hinesville, Georgia, with 18% of its businesses Black owned (38% Black population). Our own Atlanta/Sandy Springs/ Roswell ranks second with 11% of its businesses are Black owned (34% Black population). Others with a high proportion of Black-owned business include Fayetteville (North Carolina), Virginia Beach, Memphis, the D.C. area, and Jackson, Mississippi.
DEI stands for diversity, equality and inclusion. These are three things that Americans should support and have supported since the Civil Rights Act was passed in 1965. But DEI is now under attack. In my opinion, this is because the history of Black people in America is not taught in our schools and is, therefore, unclear to many in the white community.
It is a historical fact that African Americans have been denied many of the same opportunities that our white citizens take for granted. And this fact has resulted in unequal racial accumulation of wealth. According to the Pew Research Center, the median net worth Black households ($27,100) is 11% of the net worth of white households ($250,400). And that gap has increased over time. But, that situation can change.
As the Brookings Institution has stated “the ability for Black people to participate in local, regional, and global markets represents a dream deferred by systemic racism and discrimination.” It is up to each of us to help our Black brothers and sisters to achieve this dream and make it a reality.
Credit: Courtesy Photo
Credit: Courtesy Photo
Jack Bernard, a retired business executive and former chair of the Jasper County Commission and Republican Party, was the first director of health planning for Georgia.
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