Black-owned businesses have emerged as integral players in the global economy, able to foster economic empowerment and contribute to enhanced diversity and inclusion in the workplace. In the United States, the number of Black-owned businesses increased by nearly 14% pre-pandemic and accounted for a larger share of increases in revenues, employees and payrolls than other racial groups. Marked by rising Black entrepreneurship rates and growing demand for minority-owned businesses, there is a unique opportunity for Black-owned brands to play an even more prominent role in the global marketplace.
