ERTC Advisory Group Promotes and Celebrates National Black Business Month

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 is celebrating by recognizing the more than 2 million Black-owned businesses that bring in $165 billion in sales each year and employ more than 920,000 people. These businesses are essential to their local economies and to the US economy.

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Black-owned businesses account for about 10 percent of U.S. businesses and about 30 percent of all minority-owned businesses. According to the U.S. Census Bureau, that amounts to approximately two million companies owned by African-Americans. Nearly 40 percent of Black-owned businesses are in health care and social assistance, repair and maintenance, and personal and laundry services. Other categories include advertising firms, retail stores, coffee shops, auto dealerships, consulting services, restaurants, barbershops, beauty salons, and more.

The COVID-19 pandemic forced thousands of businesses across the country to close their doors. Major disruptions such as capacity restrictions, supply chain disturbances, remote work orders, and full and partial shutdowns resulted in revenue declines. The impact of COVID-19 on small businesses worldwide was catastrophic and businesses are still struggling more than two years after the onset of the pandemic. Black-owned businesses were hit especially hard during the pandemic, which has been well-documented in the media.

At ERTC Advisory Group, one of the ways we observe 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 to obtain the tax credit for their businesses. The ERTC was established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act and was created to encourage businesses to keep W-2 employees on their payrolls in 2020 and 2021 during the Coronavirus pandemic. The original scope of the ERTC has been amended and businesses can now qualify for ERTC refunds even if they received a PPP (Paycheck Protection Plan) loan.

J. Longmire Harrison, Esq., Managing Partner of ERTC Advisory Group, stated: “I believe that small businesses are the backbone of every economy, making them vital to every nation. This is why small businesses, many of which are still fighting for survival, need all the support they can get. We help small businesses navigate the complex Employee Retention Tax Credit process and work to get the highest possible refunds.”

Black Business Month was created in 2004 by historian John William Templeton and engineer Frederick E. Jordan. John William Templeton was an editor of the oldest Black newspaper in America. Frederick E. Jordan had limited financing options when he started his engineering and construction management company in 1969. Today, F.E. Jordan Associates Inc. has an impressive record of more than 1,000 completed projects.

According to the official website, founders John William Templeton and Frederick E. Jordan Sr. started National Black Business Month “to drive the policy agenda affecting the 2.6 million African American businesses.” Understanding how important these businesses are to economic growth, National Black Business Month serves as an effort to uplift and celebrate Black businesses through the unique and enormous challenges they face.

Organizations dedicated to the spirit of National Black Business Month includes: U.S. Black Chamber, Inc. (USBC). The USBC Chamber Network consists of over 145 Black Chambers of Commerce and represents about 326,000 members across the country. USBC provides leadership and advocacy to empower Black business owners through resources and initiatives; and, The National Black Chamber of Commerce (NBCC) was incorporated in Washington, DC in March 1993. The NBCC reaches 100,000 Black owned businesses is dedicated to economically empowering and sustaining African American communities through entrepreneurship and capitalistic activity within the United States.

Hashtags used to support National Black Business Month include: #NationalBlackBusinessMonth, #BlackBusinessMonth, #ERTC, #ERC, #SmallBusiness, #Covid-19, #EmployeeRetentionTaxCredit, #EmployeeRetentionCredit, #Black-OwnedBusiness

Contact Info:
Name: J. Longmire Harrison, Esq.
Email: jlongmire@ertcadvisorygroup.com
Organization: ERTC Advisory Group
Address: 6710 Laurel Bowie Rd #1273, Bowie, MD 20718, United States
Website: https://ertcadvisorygroup.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134396