Examining the Disparity: Atlanta’s Black-Owned Businesses Fall Short of Population Representation
Point 1: Atlanta boasts a high number of Black-owned businesses, but there is a significant gap when compared to the overall population. Despite being home to one of the highest amounts of Black-owned businesses in the United States, only 7% of businesses in the metro area are Black-owned, while Black people make up 36.3% of the population.
Point 2: Bafana Moyo, owner of The Grounds Guys of Stone Mountain, highlights the need for further support and opportunities for Black entrepreneurs. Moyo believes that encouraging business ownership among young African Americans can not only help them grow personally but also contribute to the growth of the community as a whole.
Elaboration:
As National Black Business Month concludes, FOX 5 investigates the state of Black-owned businesses in Atlanta. Despite Atlanta’s reputation as a hub for Black entrepreneurship, there remains a significant disparity between the percentage of Black-owned businesses and the overall population. According to the Brookings Institute, Georgia ranks second in the country for the percentage of Black-owned businesses, while metro Atlanta holds the third-highest number of such businesses nationwide.
Bafana Moyo, owner of The Grounds Guys of Stone Mountain, shares his journey as a black entrepreneur during challenging times. After losing his government contracting job due to the pandemic, Moyo sought a sustainable source of income and drew inspiration from his grandfather’s lawn maintenance work. Three years later, his business is thriving, with new opportunities arising to service commercial properties.
Despite success stories like Moyo’s, there is still much work to be done in closing the gap between Atlanta’s Black-owned businesses and its Black population. Moyo emphasizes that supporting minority businesses benefits all businesses and hopes that sharing his story will inspire young black individuals to pursue their entrepreneurial dreams.
For those seeking resources to support Black entrepreneurs in Atlanta, FOX 5 provides a list of helpful initiatives. By fostering an environment that cultivates black-owned businesses, Atlanta can ignite a spark within young African Americans, empowering them to not only grow themselves but also contribute to the community’s growth.
Source: www.fox5atlanta.com