Designates August of each year as "Black Business Month" in NJ.
Impact
The resolution acknowledges the existence of over 76,000 Black-owned businesses in New Jersey, which contribute to job creation and economic stability in the state. It underscores the idea that supporting these businesses can play a crucial role in reducing the racial wealth gap that exists between White and Black individuals. Statistics reveal that Black businesses generate significant annual revenues, thus this resolution serves to further promote their visibility and foster local economic empowerment.
Summary
AJR53, introduced in 2022, designates August of each year as 'Black Business Month' in New Jersey. This initiative is aimed at recognizing the significant contributions of Black-owned businesses, promoting their growth, and encouraging residents to support these enterprises. Founded in 2004, Black Business Month serves to highlight the influence of Black entrepreneurship across the United States, emphasizing its role in economic development and community enhancement.
Contention
While the resolution received support from various sectors, some potential points of contention may arise concerning the effectiveness of such designations in materially assisting Black businesses. Critics might question whether simply declaring a month is sufficient to address systemic challenges faced by these enterprises, particularly in light of economic disparities exacerbated by events like the COVID-19 pandemic. Therefore, ongoing public programs and initiatives become essential in realizing the goals set forth by AJR53.