The ERTC Advisory Group celebrates National Black Business Month by helping black-owned businesses navigate the ERTC (Employee Retention Tax Credit) program.

Bowie, Maryland – (Newsfile Corp. – August 21, 2022) – August is National Black Business Month and The ERTC Advisory Group celebrates by recognizing the more than 2 million black-owned businesses that generate $165 billion in revenue each year and employ more than 920,000 people. These companies are essential to their local economy and the US economy.

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Black-owned businesses make up about 10 percent of U.S. businesses and about 30 percent of all minority-owned businesses. According to the US Census Bureau, that’s about two million businesses owned by African Americans. Nearly 40 percent of Black-owned businesses are involved in healthcare and welfare, repair and maintenance, and personal and laundry services. Other categories include advertising companies, retail stores, coffee shops, car dealerships, consulting services, restaurants, barber shops, beauty salons and more.

The COVID-19 pandemic has forced thousands of businesses across the country to close their doors. Major disruptions such as capacity constraints, supply chain disruptions, remote work orders, and full and partial closures drove revenue down. The impact of COVID-19 on small businesses worldwide has been catastrophic and businesses are still struggling, more than two years into the pandemic. Black-owned businesses have been hit particularly hard during the pandemic, which has been well documented in the media.

at ERTC Advisory Groupone of the ways we celebrate National Black Business Month and support Black-owned businesses is by helping business owners understand what the Employee Retention Tax Credit (ERTC) program is and how they can use the tax credit for their.. .