Today, Montage celebrates Juneteenth – the anniversary of June 19, 1865 when the Emancipation Proclamation was read aloud in Galveston, Texas, declaring:
“All persons held as slaves within any State or designated part of a State… shall be then, thenceforward, and forever free.”
As we commemorate this significant moment in history, we also acknowledge the ways in which we must continue to work toward true freedom and equity for all. One critical area of interest for us, and one in which we feel we can affect change, is in raising awareness and supporting the needs of Black-owned businesses.
According to recent research by McKinsey & Company, the financial health of minority-owned companies was “approximately twice as likely to be classified as ‘at risk’ or ‘distressed’ than nonminority-owned small businesses.” As such, the Federal Reserve indicates that these businesses are “three times as likely as healthy businesses to close because of a two-month revenue shock.”
Given the recent operating restrictions due to COVID-19, now is a critical time to invest in the Black-owned businesses, livelihoods and freedoms. Here’s how you can lend support:
– Executive Summary – Disparities in Capital Access between Minority and Non-Minority Businesses
– COVID-19’s effect on minority-owned small businesses in the United States
– Black-owned Businesses’ #1 Need: Access to Capital
– TEDxDover: Launching and Supporting Black-Owned Businesses
– Management Leadership for Tomorrow transforms the career and life trajectories of a new generation of diverse leaders while expanding the talent pipelines at more than 100 leading businesses, social-sector organizations, and universities.
– The National Minority Supplier Development Council Business Consortium Fund, Inc. offers loan programs and consulting services to meet the needs of minority businesses through the NMSDC network of 23 affiliated regional councils.
– Yelp has recently added a tag for Black-owned businesses. Check out the regularly updated list of local businesses here. A simple Google search will provide similar lists for other cities.
– Kelly Ego-Osula of RISE Fitness has been kicking our butts for over a year. She provides the team with small-group personal training and fitness motivation. We cannot recommend her enough.
Please share other ways we can join you in supporting Black-owned businesses.
Montage Marketing’s offices will be closed today for Juneteenth. All employees are encouraged to recognize, reflect and celebrate in their own way.