New York City could be one step closer to officially recognizing August as Black Business Month.
Queens Council Member Natasha Williams introduced a package of seven resolutions on Thursday, Aug. 15, supporting legislation created by the state legislature and Congress to bolster Black-owned businesses.
The Black Business Month Legislative Package aims to provide Black businesses with resources to grow their businesses through clear pathways to success. One of the main parts of the package is Res 0526-2024, which recognizes August as Black Business Month in New York City.
Many of Williams’ resolutions aim to further support Minority and Women-Owned Businesses Enterprises (MWBEs).
One resolution, Res 0527-2024, would require more transparency for MWBE government vendors who are denied government contracts. Similarly, Res 0528-2024 would require agencies to provide a written statement explaining their rejection of unsuccessful MWBE subcontractors.
Res 0531-2024 calls for the passage of Senate bill S.8139A, which would establish reciprocity between city and state registries of MWBEs.
Furthermore, Res 0529-2024 aims to support the Ensuring Diversity in Community Banking Act by finding ways to bring more resources to community banks and MWBEs.
Res 0472-2024 supports S631/A6962, which would use MWBE investments for the New York State and New York City pension fund.
Other resolutions aim to create diversity initiatives in the corporate sector.
Resolution 0530-2024, in support of H.R.4177, would amend the Securities Exchange Act of 1934 by requiring certain corporate organizations to disclose data on the racial, ethnic and gender makeup of their executive teams and boards of directors, as well as the veteran status of any directors and officers. The resolution aims to create a pathway for a more equitable workplace, where corporate leaders reflect the communities they serve.
Council Member Williams said support for these legislative efforts is crucial in creating economic inclusivity. “By standing behind these bills, we are advocating for the systemic changes needed to empower Black-owned businesses and promote equity across all sectors,” she wrote in a statement.
Williams represents New York’s 27 District, which includes Jamaica, South Jamaica, Springfield Gardens, Rochdale Village, St. Albans, Hollis, Queens Village, Cambria Heights and Laurelton.
