Minority Entrepreneur Day is the day to honor the minority entrepreneurs who start and run small businesses. Declared by HolidaySmart's Holiday Committee and set on January 29th in honor of Oprah Winfrey on her birthday, who is an inspiration to minorities across the globe. Patti Jewel nominated this day as a woman entrepreneur who knows the additional challenges that women face when starting a business that are even greater for minorities. Oprah has been an inspiration to her and millions others.
There are now more than four million minority-owned companies in the United States (source) representing about 18 percent of the population, whereas minorities make up about 32 percent. Minority-owned businesses are those owned by African Americans, Hispanics, Asians and Pacific Islanders, or American Indians and Alaska Natives. While the percentage of minority owned businesses is growing, minority small businesses still have a greater struggle gaining funding. According to this Forbes article, there are various reasons, stemming from less visibility to investors and investors not having as much faith in their success. However, minority owned businesses are on the rise and their success rate is increasing as well.
Minority Entrepreneur Day is the day to support your locally owned minority businesses and appreciate their unique challenges in the marketplace.
How to Celebrate Minority Entrepreneur Day
Shop at a minority owned business both locally and online
Give a shoutout to a minority small business owner
Offer a service at a reduced rate or free for a minority owned business
Invest in a minority owned business or startup
Say happy birthday to Oprah and thank her for her inspiration
Be inspired and start your minority owned business
How Minority Entrepreneur Day Unites People
It is important to support each other in our endeavors and Minority Entrepreneur Day is a day to come together in support of those who may face bigger obstacles when starting their business.