The "Golden Age of Black Entrepreneurship" typically refers to a period of remarkable growth and success among Black-owned businesses in the United States, particularly during the early 20th century and especially from the 1900s to the 1930s. Segregation forced Black people to work together and become self-sufficient.This era followed the Reconstruction period and came at a time when segregationist Jim Crow laws were widespread. Because Jim Crow laws forced African-Americans to form more insulated communities separate from whites, it led to a boom in entrepreneurship. Despite pervasive racial discrimination and economic barriers, Black entrepreneurs found ways to establish thriving businesses and communities, fostering both economic independence and pride within the Black community.

It was known as the “Golden Age of Black Business” because businesses owned by African-Americans were growing faster than ever at the time. With racial division harshly dividing communities of color from their counterparts, predominantly African-American communities were often left to fend for themselves. Many of the businesses started by African-American entrepreneurs had one primary goal: to serve the Black community. Banks, barbershops, restaurants, insurance companies, clothing stores, etc. fulfilled the needs of their customers and created a large number of jobs, effectively building wealth within communities of color.

As white-owned businesses scaled back or eliminated their ties to Black customers, Black entrepreneurs were only too happy to take those customers from them. All across the country in urban areas where the majority of Black people lived, small businesses were popping up at record speed. The number of Black businesses of all kinds doubled to 40,000.
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SOURCES:
~ THE U.S. CHANMBER OF COMMERCE, February 26, 2024, by Thaddeus Swanek: Chronicling The Vital Role of Black Business in US History
~ HARVARD BUSINESS REVIEW, April 7, 2021, by Leon C. Prieto and Simone T.A. Phipps: How The 20th Century Black Business Leaders Envisioned A More Just Capitalism
~ MEDIUM.COM, December 18, 2021, by Kimbriah Alfrenar: The Golden Age of Black Business (1900-1930)
~ HARLEM AMERICA, October 27, 2021, by A. Collier: The History of Black Entrepreneurship

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