7 Of The Oldest Black-Owned Businesses In The United States
Still Standing: These Are The Oldest Black-Owned Businesses In The U.S. - Page 5
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Most businesses took a hit during the COVID-19 pandemic, and there is respect to be had for those that made it through. However, minority-owned businesses saw some of the greatest hardship during this time, with CNN reporting that many struggled to get access to funding – or the full amounts that they needed. Of course, this was not the first time Black-owned businesses faced more obstacles than white ones. Historically, Black business owners have struggled to access capital. The U.S. Federal Reserve shows that Black business owners are denied loans at twice the rate of white business owners.
Go even further back, and Jim Crow laws forced Black folks into segregated, geographically limited communities. We still see the remnants of that today. Now, consider that any Black business owner you know today is certainly not riding the coattails of a multi-generational empire. Go back only a little more than a century, and many Black people would have still had ancestors in slavery. That means they do not benefit from the ancestral connections and inheritance that many white business owners do. This all points to one fact: Black-owned businesses that have stood the test of time are tough as hell. And today, we tip our hats to them. They’ve weathered more storms than we can know. Here are some of the oldest Black-owned businesses in America.
The Philadelphia Tribune
Philadelphia, PA
Founded in 1884
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The Philadelphia Tribune was started by Christopher J. Perry, an activist dedicated to the advancement of the Black community. The first issue was just one-page long, but Perry grew it to a robust periodical that eventually went out twice a week.
The Philadelphia Tribune has been an integral part of Black advancement ever since, having campaigned for the first Black member of the City’s Board of Education and for the election of a Black City Council Member. They’re still going strong and have won several awards for their writing, photography and community service.
W.H. Jefferson Funeral Home
Vicksburg, MS
Founded in 1894
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W.H. Jefferson Funeral Home is one of the oldest Black-owned funeral homes in the country and was the first Black-owned funeral home to have two burial insurance companies. It was started by William H. and Lucy C. Jefferson, and has been called a pillar of the Black community in Vicksburg, Mississippi. It’s a family-run business and known for treating its customers with care and integrity.
Jones Bar-B-Q Diner
Marianna, AK
Founded in 1910
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One of the most applauded eateries in Arkansas is a simple, two-table diner on the ground floor of the owner’s personal residence. Jones Bar-B-Q Diner is run by James and Betty Jones, and features secret family recipes from James’ father and grandfather. The simple operation has a small dining area, and in the back sits an attached smokehouse where pork shoulder is smoked for 12 hours. The James Beard Foundation has called it an “American Classic.”
Carver Federal Savings Bank
Harlem, NY
Founded in 1948
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Carver Federal Savings Bank is one of the largest Black-owned banks in the U.S., with seven full-service branches, and a total of 80,000 ATMs nationwide, courtesy of a partnership with Allpoint, J.P. Morgan Chase and Wells Fargo.
The bank was founded by several local Harlem business owners who were tired of the bigger city banks denying funding to Harlem residents. They started the bank as a way to help build up the Harlem community, and to this day, donate a large portion of every dollar deposited to the local community.
E.E. Ward Moving & Storage Co.
Grove City, OH
Founded in 1881
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E.E. Ward Moving & Storage Co. was founded by an Underground Railroad Conductor named John T. Ward who would transport enslaved people to safe houses with just two horses and one wagon. Eventually, Ward and his sons founded a moving company that has since become a nationally-recognized business. They survived the Civil War, the Great Depression and two world wars and are still going strong. E.E. Ward Moving & Storage Co. has always been committed to diversity and inclusion and received the Torch Award for Ethics twice and the Corporate Caring Human Services Award.
H.J Russell and Company
Atlanta, GA
Founded 1952
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H.J Russell and Company is a real estate development and project management company. It was founded by Herman J. Russell, who had been an entrepreneur since he was eight years old, when he’d deliver newspapers and do handyman work in his neighborhood. Through odd jobs, Russell saved enough to buy a rental property, used that money to go to school and earned a degree in building construction. From there, he started a plastering company that later became H.J. Russell & Company. The company has gained high-profile clients, including some buildings found in the Atlanta Skyline, and has grown to have thousands of employees.
NC Mutual
Durham, NC
Founded in 1898
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NC Mutual is one of the Black-owned businesses on this list of great historical importance. It was founded by a former slave named John C. Merrick. He recognized that many insurance companies were not offering policies to Black folks during his time, making it difficult for them to pay for end-of-life services for loved ones. So he partnered with several other local entrepreneurs, and each one contributed an equal share of personal resources to start a life insurance company that would serve Black families. It went on to become one of the core businesses of Black Wall Street in Durham.
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