A examine from the College of Cincinnati Economics Heart reveals simply how a lot of an financial influence Black-owned companies have on Cincinnati’s economic system.
In partnership with UC, the Better Cincinnati and Northern Kentucky African American Chamber of Commerce (AACC) launched the findings of the “Financial Influence of Black-owned Companies in Southwest Ohio Communities” Sept. 16. The examine discovered that Black-owned companies in Better Cincinnati help greater than $2.1 billion in financial exercise, up from $1.4 billion because the examine initially was conduced in 2021.
The examine surveyed almost 1,000 Black-owned companies throughout 4 counties: Hamilton, Butler, Clermont and Warren. The survey recognized the three largest business classes amongst Black enterprise house owners within the space:
- Companies starting from occasion planning to cosmetology to life teaching
- Transportation and warehousing
- Healthcare and social help
Assets for achievement
AACC emphasised the group’s position in rising the native economic system for Black-owned companies, together with offering enterprise counseling and technical help.
“We help them with entry to capital, advertising plans, marketing strategy growth,” Annette Tarver, technical help and outreach coordinator for AACC, mentioned throughout a Sept. 19 press convention at Esoteric Brewing Firm. “We additionally do net growth and search engine marketing.”
Briston Mitchell, director of transformative initiatives and relationships for AACC, mentioned the survey additionally allowed the chamber to gauge what Black companies in Better Cincinnati have to proceed rising.
“They’re searching for networking occasions. We’re offering these,” Michell mentioned throughout the press convention. “Advertising is massive. Everybody needs to market and let folks know their enterprise exists and is on the market.”
UC says that no chamber of commerce in the complete nation had quantified the financial influence of Black companies of their neighborhood till the college and the AACC launched its ongoing examine in 2021.
“Our partnership with the African American Chamber offered a possibility to point out how precious Black-owned companies are to the area,” mentioned Dr. David Mahon, government director of the UC Economics Heart. “This report makes clear that these companies are an important a part of the Better Cincinnati economic system and its future.”
Go to the AACC web site for extra data on providers for small companies.
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