# What This Bill Does

This is a resolution expressing support for making August "National Black Business Month" and honoring the contributions of Black-owned businesses to the American economy. It's important to understand that this is not a law that creates new requirements or restrictions—it's basically Congress making an official statement of recognition and support.

The resolution celebrates the history and current success of Black-owned businesses, from the famous "Black Wall Street" in Tulsa during the early 1900s to today's thriving entrepreneurs. It highlights impressive recent growth: between 2017 and 2020, Black-owned businesses grew by over 13 percent (compared to less than 1 percent growth for all businesses), and in 2020 alone, Black business owners employed over 1.3 million people and added $1.7 billion in payroll to the economy. The resolution also notes that Black women entrepreneurs represent the fastest-growing group of business owners since the pandemic.

However, the resolution also acknowledges real challenges that Black business owners face. It points out that Black entrepreneurs often struggle to get loans, frequently pay higher interest rates than other business owners, and have less access to capital to grow their companies. By officially designating August as National Black Business Month, Congress is signaling that it recognizes both the achievements and the ongoing barriers these business owners encounter.

In practical terms, this resolution doesn't change any laws or provide direct funding or benefits. Instead, it's a symbolic gesture that encourages Americans to recognize and support Black-owned businesses, and it signals to government agencies that Congress wants them to work toward removing barriers that prevent Black entrepreneurs from competing fairly in the marketplace.

Expressing support for the designation of August as National Black Business Month and to honor the contributions of Black-owned businesses across the United States.

Crockett, Jasmine

 <p>This resolution supports the designation of National Black Business Month.</p>