The Importance of the Black Professional in the Modern Workplace: From Entrepreneurship to Corporate Leadership

By Wema Hoover

There are moments in history when a nation must pause—not just to commemorate, but to celebrate achievements, amplify the voices that advance progress, and chart a new course forward. As we observe National Black Business Month this August, celebrating the extraordinary economic contributions of Black entrepreneurs and business leaders, we’re reminded of a deeper truth: the success of Black-owned businesses and the advancement of Black professionals in corporate America are inextricably linked. Both face similar barriers, both contribute immensely to our economy and both deserve recognition not as benefactors of special programs but instead as the community which has been a significant driver of America’s growth, innovation and success.

The remarkable statistics tell part of the story—3.12 million Black-owned businesses generate $133.7 billion in sales and employ 1.18 million people. But behind these numbers lies a parallel narrative about Black professionals navigating an increasingly complex workplace landscape, often facing the same assumptions and barriers that Black entrepreneurs encounter in the business world.

Earlier this year, in a Black History month piece I wrote for Fast Company, I highlighted the persistent barriers that continue to limit the advancement of Black professionals despite them having considerable qualifications and contributions. Now, as we observe National Black Business Month in this shifting environment around diversity, equity, and inclusion, those challenges facing Black professionals in corporate America are even more pressing.

The Enduring Relevance of Recognition

The meaning of National Black Business Month could not be more relevant than it is today. This commemoration was designed to recognize the contributions of Black Americans in building the foundation of our country’s economy, not just as entrepreneurs, but across every industry and profession as employees, leaders, educators and innovators. At a time when we’re hearing rhetoric and frankly, misinformation around diversity, equity, and inclusion that inadvertently targets Black and other marginalized communities, we need to be reminded of the transformative contributions made throughout America’s history more than ever.

From science and technology to social impact, culinary arts, and American culture felt in art, music and literature, Black Americans have woven advancements and innovations into the very fabric of American society. It’s clearly visible in the work led by Black professionals as business owners or as corporate professionals leading advancements, impact and performance within organizations. Yet we find ourselves in a climate where there’s an assumption that any Black person in a significant position or leadership role is there because of being a “DEI hire”—not because of their competence, talents, skills, experience, and most importantly, their merit.

The Reality of Current Challenges

The pressing challenges facing Black professionals today are both systemic and immediate. The latest employment data from the Joint Center for Political and Economic Studies tells a stark story: from March to April 2025, unemployment for Black workers increased from 6.2 percent to 6.3 percent, while the number of Black workers employed decreased by 36,000. Most concerning, unemployment for young Black workers jumped from 12.3 percent to 12.7 percent, even as overall youth unemployment declined. Black Americans continue to suffer disproportionately in terms of attrition and unemployment rates, far worse than any other group. This disparity cannot be divorced from the current environment and the assumptions about how we attained our roles. However, these assumptions do not represent truth or facts regarding the education, experience, and ambition that lie untapped within the Black community.

Here’s what’s particularly ironic about the attacks on DEI: critics claim it goes against meritocracy and gives people unfair advantages. The truth is precisely the opposite. DEI allows meritocracy to exist because the bar doesn’t go down—it rises. When you look at the qualifications, experience, and proficiency that Black professionals have, they’re usually over-educated, over-qualified, and over-experienced. DEI serves only as an opportunity to be considered with other similar candidates. The reality is what we’re talking about is providing access. Access that when given, the channels of opportunities open to everyone, systemic barriers are removed and the best and brightest shine. This is when meritocracy can truly flourish and allow for competency and skill to lead talent development and acquisition.

The reality is straightforward: I can’t be in the game if I’m not even allowed to join the team. Only when we’re allowed to join the team are we able to show what we’re truly capable of and contribute to the success of every environment we are in. It really is that simple.

Beyond Performative Gestures

So how can we meaningfully support Black professionals who are employees and entrepreneurs during National Black Business Month and beyond? It starts with examining the culture and work environment that Black professionals operate in daily. Organizations must ensure their workplaces have inclusive cultures where employees are psychologically safe and feel empowered to be their best and bring their best and also continue to support Black-owned businesses. Organizations must proactively address toxic behaviors and practices that do not support a welcoming environment for all.

The focus should be on creating environments and opportunities that provide outlets for Black professionals to develop, grow and succeed and ensure there are tools and resources in place to support them and help with their overall well-being and ability to succeed. This includes tools such as employee resource groups, supplier diversity programs, and leadership development initiatives—designed to create safe spaces where lived experiences can be shared and respected. I’ve seen this in action with my clients. They’re investing in executive coaching for many of their leaders to create inclusive, collaborative, and engaging workplaces. They’re recommitting to values like respect, dignity, and psychological safety—translating mission into meaningful action.

The Quiet Recommitment

What gives me hope is that many organizations are quietly but firmly recommitting to DEI principles of inclusion, equity and impact. They’re rejecting proposals from lobbying organizations to abandon these efforts, and they’re reaffirming why equity and inclusion are not only good things, but also critical to their business success.

Recent shareholder votes reveal this commitment in action. At Costco, Apple, John Deere, Netflix, and many pharmaceutical companies’ shareholders rejected anti-DEI proposals. Many margins exceed 95%. More than 98% of Costco shares voted against a proposal that would have forced the company to evaluate supposed “risks” of its DEI practices. At Apple, 97% of votes opposed an anti-DEI resolution, with CEO Tim Cook reaffirming the company’s commitment to “create a culture of belonging.” These overwhelming margins suggest that shareholders across political lines recognize the business value of DEI.

These companies aren’t doing this for optics or as some philanthropic endeavor. They’re doing it because it’s good for business—it’s foundational to their performance, success, and impact on their customers and clients. They understand that integrating collective ideas, perspectives, and approaches among all people allows everyone to contribute their experiences and backgrounds, enabling the organization to benefit from those insights and drive business forward.

The market consequences of abandoning DEI are becoming clear. Target’s recent experience serves as a cautionary tale. After announcing a rollback of DEI initiatives in January 2025, boycotts led to declining sales and foot traffic by the Black community and Black consumers responded with visible backlash, withdrawing support and reducing store visits. CEO Brian Cornell admitted on an earnings call that the company’s first-quarter sales declines were, at least in part, due to consumers’ reactions to their DEI rollback. Target’s foot traffic dropped 7 percent compared to the previous year, while Costco, which doubled down on DEI commitments, saw foot traffic increase by 7 percent year-over-year. The numbers don’t lie. Divesting in DEI marginalizes the customer base and undermines performance and ultimately hurts profits.

Moving Forward with Purpose

Organizations must consider the value of authentically connecting with a diverse, multi-generational consumer base—across gender, culture, income, and ability. They must also truly ask themselves whether they will survive in a marketplace that doesn’t value, respect, and connect with all of its stakeholders in meaningful ways. Is deferred action or non-action in creating workspaces that include everyone worth risking market performance, alienating the consumer base, and having misaligned purpose and values that directly affect their bottom lines?

Beyond market considerations, there’s a deeper question about organizational identity: What kind of organization are you? Who are you when no one is looking? Are you committed to actually living and standing by your values? In what ways do you advocate, support and show up for your employees, customers and shareholders?

From Celebration to Commitment

As we celebrate the entrepreneurial spirit and economic contributions highlighted during National Black Business Month, let’s also cultivate workplaces and business environments where all people and businesses can grow and thrive based on the merit of their qualifications, contributions, and experiences for their full potential to be realized. Let’s create a world where access isn’t a privilege but a right, where meritocracy can truly flourish because everyone has a fair chance to participate and make any environment they are in stronger.

The spirit of National Black Business Month—innovation, excellence, and economic empowerment—must endure not just in our celebrations but in our daily commitment to building equitable workplaces where each person’s contributions are valued, leveraged, and optimized.