African American women have been a cornerstone in shaping culture and a significant contributor to business in the United States. That’s why if you’re an African-American woman wanting to start a business, here are some great black-owned business ideas.
Top Black-owned Business Ideas
There are endless opportunities when it comes to starting a business as an black man or woman. Here are our top black-owned business ideas for 2023:
Open a Restaurant
One of the most rewarding business ventures for Black entrepreneurs is opening a restaurant. You can make good money by satisfying people’s appetites for food and beverages if you are a cook, a chef, or have a fantastic book of family recipes. However, the restaurant industry is highly competitive. So, you must try to provide unique service and excellent food to ensure returned clients and spark the culinary interest of new customers.
Start a Training Business
Starting a training business can be a great way to promote growth and development in the Black community. Training businesses offer educational services that help individuals and corporations learn new skills and gain knowledge in various areas. These services can include professional development, technology-based learning, language instruction, and so much more.
Start an Affiliate Marketing Business
Starting an affiliate marketing business is a great way to make money and support Black-owned businesses. Affiliate marketing is a type of performance-based marketing where you, as the affiliate, promote products or services from another company online and receive a commission when someone buys something through your link or code. There are so many opportunities for affiliate marketers to earn money on the internet and the best part is that you don’t need to have any special skills or resources to get started.
Start a Rental Business Business
Starting a rental business is a great idea for Black-owned businesses. Rental businesses offer products and services to customers who are temporarily in need of something that they do not want to own outright. From party rentals, construction equipment, furniture, and automobiles, there is no shortage of items that can be rented.
Launch a Content Writing Business
Starting a content writing business can be a great way to capitalize on the current need for quality written content. Content writing is a popular form of digital marketing, providing websites and businesses with SEO-friendly articles, blog posts, press releases, web copy, and more. Whether you’re looking to offer your services as a freelance writer or start an agency specializing in content creation, launching a content writing business is an exciting opportunity.
Start a Delivery Service Business
There is still a significant demand for delivery services. Post pandemic consumers still prefer delivery services over going to the store.
The best part is you can start with very minimal startup money. You would need to research what business licenses or permits your state requires.
If you execute it properly with quality service, it may generate incredible profits. The most innovative way to begin is by accessing your immediate local neighborhood businesses that frequently need to deliver items to their customers. You can provide delivery services for anything from documents, food, or product items.
Become a Subject Matter Expert (SME)
To start this business, you must have verifiable expertise in a particular area with a certification, degree, or license. A subject-matter expert is a consultant who has gathered deep knowledge and understanding of a specific field, job, department, machine, process, function, material, particular equipment, or technology.
A Subject Matter Expert can be a contractual consultant, freelancer, or full-time employee. The best part is that you can start your SME consultant business with minimal cost once you have registered your company.
Start a Clothing Company
Starting a clothing company is a great way to capitalize on the growing demand for stylish and unique fashion for men, women, and children. Additionally, as a black-owned business, you have the opportunity to create pieces that will reflect and honor your unique culture and identity.
Open an Online Store
Starting an online business is available to anyone. All you need is a computer, and with today’s available platforms, no technical knowledge or background is necessary to launch an online store. Today, there are plenty of online tools and platforms available to build an online business that makes the technical side of establishing an online presence easier than it was in the past.
The Internet economy is enormous in today’s digital world. You can sell anything to anyone, anywhere in the world, through the internet. You can start by identifying and understanding your target market if you don’t know what products you want to sell. After that, you can figure out how to get the products you wish to sell to satisfy the needs of your target market.
You can start your store by posting your products online through social media, marketplaces, and online communities. As your online store grows, you will continuously expand your business to achieve greater success.
Start a Life Insurance Business
Selling life insurance is one of the most lucrative and high-paying professions. Along with the commission you receive for selling a life insurance policy, you also get paid renewal commissions for the duration of the policy.
Although the rewards might be great, working in the insurance industry can be challenging. The life insurance industry is one of the most competitive markets. You’ll need patience, commitment, perseverance, powerful strategies, and effective customer service. The good news is Art Life Insurance Agency (ALIA) is a top-rated provider of insurance coaching that specializes in assisting African-American women who want to start and succeed in the life insurance industry.
Being a new Black entrepreneur will be challenging when starting most of the fore-mentioned businesses. But if you start a life insurance career with Art Life Insurance Agency, we will guide you towards success.
It is essential that you have a good support system in order to succeed. Here at Art Life Insurance Agency, we are passionate about helping you achieve your goals and turn your dreams into a reality. With ALIA’s support, guidance, sales coaching, motivation, and proven strategies, you can succeed in launching your life insurance business. Contact us todayor come visit our office to see how we can help you get started.
Small Business Business Resources
One of the most important factors to consider when starting a business is having access to resources that can help you succeed. Fortunately, there are a number of small business resources available today, regardless of your budget or experience level.
First and foremost, it’s important to seek out mentorship and advice from experienced entrepreneurs who have successfully navigated their own businesses. This could be through networking events or joining an organization like the National Black Chamber of Commerce.
In addition to finding advice and guidance, you will also have to secure funding, possibly skill-up with education and coaching, market your new business and more.
Funding Your New Business
When starting a new business, it’s important to have adequate capital. There are several ways you can fund your new business.
One of the most popular options is to apply for a small business loan from a bank or other lending institution. You should research the different loan types that are available and determine which one makes the most sense for your business plan. Some of the more common types of loans include SBA loans, conventional loans, and start-up loans.
Funding Programs
The federal government does not offer grants to initiate business operations. However, there are a number of programs available to assist entrepreneurs in establishing, expanding, or recovering from crises.
The Minority Business Development Agency
The Minority Business Development Agency, run by the U.S. Department of Commerce, aids in the growth and competitiveness of businesses owned by individuals from diverse communities such as African Americans, Asian Americans, Hasidic Jews, Hispanic Americans, Native Americans, and Pacific Islanders.
The Small Business Administration (SBA)
The SBA is dedicated to aiding the growth and expansion of small businesses and entrepreneurs from minority groups and underserved communities.
The U.S. Small Business Administration utilizes their field offices, resource partners and other partnerships to provide business owners and entrepreneurs, who may not have had access otherwise, with the same opportunity for growth or success as others.
Education and Coaching
Small business education and coaching is a great option for entrepreneurs looking to start a Black-owned business. This type of service provides important knowledge and tools to help new business owners succeed, and allows them to develop the skills they need to build their own successful businesses.
Small business education and coaching can cover topics such as creating a business plan, developing your brand, marketing strategies, financial planning, risk management, and more.
Marketing & Advertising
Marketing and advertising is one of the most important aspects of running a successful black-owned business. Without proper marketing, it’s difficult to get your business in front of potential customers and establish a presence in the marketplace. One way to market your small business is through digital marketing tactics such as SEO, PPC, content marketing, social media, email campaigns and more. Utilizing these strategies can help you reach a larger target audience who may be interested in your products or service, allowing you to grow your business with new and repeat customers.
Get Certified as Minority-Owned Business
If you are a Black-owned business looking for ways to invest and grow, getting certified as a minority-owned business could be your ticket to success. Minority-owned businesses enjoy access to numerous resources and opportunities that can help them succeed in the global marketplace. These benefits include access to capital, government contracts, networking events, and more.
Getting certified as a minority-owned business is also a great way to build your credibility and increase your visibility. Certification is a process of verifying the details of a company, such as ownership and workforce composition. Depending on the organization, you may be required to provide proof of minority ownership and/or management.
To find out more about getting certified we recommend you visit the U.S. Chamber of Commerce.
Black Owned Businesses We Love
Being an entrepreneur is something that has been celebrated in the Black community for centuries. From Harriet Tubman to Madam C.J. Walker, we’ve seen a variety of Black-owned businesses succeed and inspire us to create our own. In honor of these amazing business owners, here are some Black-owned businesses that we love!
Clothing Businesses
The Honey Pot Company
The Honey Pot Company is a black-owned business that seeks to empower and inspire women of color to take charge of their health. Founded by Dr. Beatrice Dixon, The Honey Pot Company provides plant-based solutions for feminine hygiene and lifestyle needs. The company offers an array of products including organic tampons, pads, liners, wipes, cleansers, douches and even menstrual cups. All the products are made from natural ingredients that are gentle on sensitive areas but also effective in providing relief from any discomfort or odor associated with menstruation.
For more information about The Honey Pot Company please visit their website.
Kaela Kay
Kaela Kay is a successful Black-owned business that offers stylish and trend-forward clothing for women of colour. Founded in 2019 by designer Kaela Kay, the company has quickly become a go-to source for fashionable apparel. Kaela Kay’s unique designs are inspired by her African heritage and feature bold prints, vibrant colors, and creative cuts.
For more information about Kaela Kay please visit their website.
Cee Cee’s Closet
Cee Cee’s Closet is a black-owned business idea that offers chic, designer fashion for the modern woman. The store specializes in curating an eclectic mix of classic, contemporary, and vintage looks from independent labels and up-and-coming designers. Customers can find suits, dresses, blouses, skirts, and accessories to help them create any look they desire.
For more information about Cee Cee’s Closet please visit their website.
Food Businesses
Caribbean Pot
Caribbean Pot is a black-owned business idea that specializes in Caribbean-style cuisine. The restaurant focuses on providing authentic and delicious dishes that reflect the diverse culinary styles of the region, such as jerk chicken, curried goat, and plantains.
For more information about Caribbean Pot please visit their website.
Taste of the Caribbean Catering
Taste of the Caribbean Catering is a black-owned business that specializes in bringing Caribbean flavors to special events and gatherings. Founded by a passionate team of Caribbean food aficionados, Taste of the Caribbean Catering offers an array of delicious dishes cooked up with fresh, high quality ingredients. From island favorites like jerk chicken and oxtail to flavorful curries and stews, they have something to satisfy any palate.
For more information about Taste of the Caribbean Catering please visit their website.
Beauty & Wellness Businesses
Butter By Keba
Butter By Keba is a black-owned business that specializes in making all-natural, handmade body and hair butters. Founded by Keba Walker, Butter By Keba offers a variety of products that are designed to nourish and hydrate the skin while providing natural healing benefits. All of their products are made with natural ingredients such as shea butter, cocoa butter, mango butter, avocado oil, and essential oils.
For more information about Butter By Keba please visit their website.
Glow by Daye
Glow by Daye is an innovative black-owned business offering a revolutionary new way to take care of your hair. Founded in 2020, Glow by Daye offers natural hair care products that are specifically designed to help keep your locks looking healthy and vibrant. The company combines the best in modern haircare technology with natural ingredients and ancient African beauty rituals.
For more information about Glow by Daye please visit their website.
Mielle Organics
Mielle Organics is a black-owned business that specializes in all-natural health and beauty products. Founded by Monique Rodriguez, Mielle has become one of the most popular brands in the natural hair care industry. Products include shampoos, conditioners, styling products, and more. Mielle stands out from other hair care brands because it uses only plant-based ingredients to nourish and protect your hair. The company also has a commitment to using sustainable practices and ingredients whenever possible.
For more information about Mielle Organics please visit their website.