Harry Boston said it best in his interview with Knox News — a business is either growing or it is shrinking. And for many businesses, especially Black-owned businesses, 2020 brought never-before-seen challenges.
But for the entrepreneurs and businesses who will make it through a year of economic setbacks, 2020 will be a year of learning, perseverance and growth.
Knoxville’s population is about 17% Black. Yet among businesses in Knoxville with employees, only about 1% are Black-owned, according to U.S. census data. And those Black-owned firms have average annual receipts of about $1.5 million less than white-owned businesses.
Our community is working to address this gap, thanks to resources like Knoxville’s Black Business Directory, the Shora Foundation’s planned Roots Collective entrepreneur space and 100 Knoxville, which aims to increase the revenues of Black-owned businesses…
