Business

August is National Black Business Month

August 1st kicks off National Black Business month. And although Black businesses should be supported year-round, all month long people across the country are encouraged to recognize and support Black-owned businesses.

Published

5 years ago

July 31, 2021

Christy Price

Black woman owned business/Photo Credit: Isabelle Price

The origins of National Black Business Month can be traced back to 2004 when Frederick E. Jordan teamed up with John William Templeton, president and executive editor of eAccess Corp., a scholarly publishing company, to have August recognized as National Black Business Month.

Jordan and Templeton also encouraged local government officials, community leaders to address structural barriers that adversely and disproportionately impact Black-owned businesses—namely a lack of access to capital.

“It’s important that we take this time not just to promote Black Business Month, but support Black businesses,” said Ronald Busby, president and CEO of the U.S. Black Chamber of Commerce.

“As we reopen America, it’s important we acknowledge the wealth gap that exists between Black families and White families has grown. The real way to address the wealth gap through the creation of new black-owned businesses and broad support of those businesses. In order for there to be a Great America, there’s got to be a Great Black America,” he said.

Busby encourages readers to visit the U.S. Black Chamber of Commerce’s website to learn about programming, events and resources available to Black entrepreneurs and businesses.

Busby also acknowledged the impact the COVID-19 has had on the Black businesses, who he says were hit the hardest. According to a report by the House Committee on Small Business, between February and April 2020 Black business ownership declined more than 40%–which is noted to be the largest decline across any racial group.

According to the United States Small Business Administration’s Office of Advocacy there are more than 2.6 million Black-owned businesses in the U.S. Black businesses realized a 34% uptick from 2007-2012. Black-owned firms generate an average of $150 billion dollars in annual receipts.

Firms owned by Black women continue to grow at an exponential rate. According to Forbes businesses owned by Black businesses grew 67% from 2007 to 2012, compared to 27% for all women, and 50% from 2014 to 2019, representing the highest growth rate of any female demographic during that time frame.

Christy Price

Posts by Christy Price

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Activism

Oakland Post: Week of March 18 – 24, 2026

The printed Weekly Edition of the Oakland Post: Week of March 18 – 24, 2026

Published

2 weeks ago

March 22, 2026

Oakland Post

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Oakland Post

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Advice

Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

Published

2 weeks ago

March 17, 2026

Oakland Post

Sponsored by JPMorganChase

As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC