Still Standing: These Are The Oldest Black-Owned Businesses In The U.S.

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NC Mutual

Durham, NC

Founded in 1898

Website

Stethoscope and words on the desk Life insurance term vs permanent.

Source: designer491 / Getty

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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