Supporting Atlanta’s Black Businesses for a More Just Economy

· 97% of black-owned businesses have only one employee: the owner.

· Annual revenues of Black-owned businesses are lower than revenues of other businesses in the Atlanta area, and Black-owned businesses are overrepresented in low-income sectors.

· Black small businesses are displaced in majority-Black neighborhoods. Median commercial rent in majority-Black neighborhoods in Atlanta increased by 98% between 2013 and 2024. Large increases in commercial rents can create instability for Black-owned businesses to operate in the neighborhood, making these businesses vulnerable to displacement.

AWBI’s commitment to supporting Black businesses in the city has leveraged $83 million in microloans and small business grants, capacity-building support, and technical assistance since 2018. We are also committed to advancing policy solutions that ensure Black businesses can operate and create good jobs.

Our most recent efforts focus on commercial and cultural corridors in historically Black neighborhoods. AWBI is currently focused on preserving and advocating for the growth of Historically Black Business Corridors (HBCCs) in the city. These corridors, which are not limited to the conventional notion of “Black Wall Streets,” embody a comprehensive understanding of commercial districts that serve Black customers, business owners, and the broader community across generations. This places AWBI and its allies in a unique position to inform, advise, and foster equitable community development for Southside businesses that are most in need of economic support.

The change we hope to see in Atlanta will only come about through a collective effort. As a member of the Changing the Odds network, led by the Annie E. Casey Foundation, AWBI is just one of 61 organizations working to create more equitable outcomes for families and children. Neighborhood businesses are needed in communities to provide essential services, foster community pride, and circulate wealth. There are many ways to protect the local businesses we know and love. One is to urge city leaders to make a bold commitment to creating a policy environment that allows Black businesses to thrive for generations. To start, policymakers should:

· Develop affordable commercial space opportunities in the city.

· Increase transparency in purchasing outcomes for Black-owned businesses in the city.

· Leverage infrastructure investments to increase infrastructure spending opportunities for Black-owned businesses.

· Create a Community Wealth Development Office to support human-centered development and community-driven solutions.

These first steps will ensure that Atlanta’s economic opportunities are shared by all, creating a truly inclusive economy.

Jarryd Bethea is a Senior Researcher at the Atlanta Wealth Building Initiative.