The resolution designates August of each year as Black Business Month in New Jersey, aiming to recognize and promote the significant contributions of Black-owned businesses in the state and across the nation. Founded in 2004 by Frederick E. Jordan Sr. and John William Templeton, Black Business Month seeks to highlight the impact of these businesses, which collectively generate substantial revenue and support millions of jobs. In New Jersey alone, there are over 76,000 Black-owned businesses, including six of the highest-grossing in the country, which play a crucial role in providing employment and fostering economic growth within local communities.

The resolution also emphasizes the importance of supporting Black-owned businesses, particularly in light of the challenges posed by the COVID-19 pandemic, which has disproportionately affected these enterprises. By designating August as Black Business Month, the resolution encourages residents to engage with and support Black-owned businesses throughout the year, while also calling on the Governor to issue annual proclamations to promote this initiative. Additionally, the New Jersey Business Action Center is tasked with publicizing Black Business Month to raise awareness and encourage participation among residents.