Trenton – The Senate Commerce Committee advanced a joint resolution today sponsored by Senator Angela V. McKnight that would designate the month of August each year as “Black Business Month” in New Jersey.
“Black businesses across the state are driving economic growth, sparking innovation, and revitalizing their communities. These businesses are overcoming the odds and their success empowers other Black entrepreneurs to pursue their dreams,” said Senator McKnight (D-Hudson). “Designating August as Black Business Month will acknowledge the tremendous contributions of Black businesses’ to New Jersey’s culture and economy and will promote greater economic freedom for Black New Jerseyans.”
“Black Business Month” was established nationally in August 2004, and provides an opportunity for governments, community leaders, and business professionals to focus on ways to support Black business owners.
According to the U.S. Census Bureau, Black-owned businesses account for 10 percent of all businesses in the United States or roughly 2 million companies.
For the last several years, businesses owned by Black individuals have grown faster than overall business growth in the United States.
The joint resolution, SJR-91, cleared the committee in a 5-0 vote.