Photo “Together” by Elizabeth Lloyd
African Americans have over one trillion dollars (1,000,000,000,000) in buying power. Put another way, African Americans spend upwards of 1000 billion dollars each year. What if every single person spent a sizable portion of their buying power at black owned businesses?
Consider the following.
- Black employers hire blacks at a greater rate than white employers.
- Black companies compared to white companies with nearly identical profiles have been found to face discrimination when seeking business loans. Consequently, they must use their personal resources.
- There is discrimination in the workforce, not just in hiring, but in wages and opportunities for advancement.
- Increasing one’s spending at black owned businesses can create more jobs for African Americans. Actually a lot more jobs depending on the level of spending. That job could be for you, your siblings, cousins, children or grandchildren, friends, and help the African American community at large!
Black owned businesses are everywhere. Many are in local communities and a huge number are online. Learn about over 700 black owned businesses that sell online (e.g., head wear, foot wear, jewelry, timepieces, etc.) at Shop with Leslie.
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- Anderson, Maggie. “The Empowerment Experiment.” http://www.authormaggieanderson.com/foundation.html
- Bates, Timothy. “The Urban Development Potential of Black-Owned Businesses.” Journal of the American Planning Association. 72 (2006): 227 – 237.
- Demby, Gene. “Racial Disparities in Wages Boil Down to Discrimination.” National Public Radio, September 23, 2016. https://www.npr.org/sections/codeswitch/2016/09/23/495013420/black-white-wage-gap-racial-disparity-discrimination
- Fernandes, Lilly & Hadi Q Alsaeed, Nora. “African Americans and Workplace Discrimination.” European Journal of English Language and Literature Studies. 2 (2014): 56 – 76
- Gumbs, Alisa. “Can a Sista Get Some Help? Black Women Less Supported at Work.” Black Enterprise, November 14, 2017. http://www.blackenterprise.com/career/black-women-less-supported-work/?utm_content=buffera7ac0&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer
- Harrison, J.D. “Black, Hispanic Entrepreneurs Discriminated Against When Seeking Small Business Loans.” Washington Post, June 3, 2014. https://www.washingtonpost.com/business/on-small-business/black-hispanic-entrepreneurs-discriminated-against-when-seeking-small-business-loans/2014/06/03/70059184-ea86-11e3-9f5c-9075d5508f0a_story.html?utm_term=.ed9865c1d30f
- Spiropoulos, Richard. “New Study Delivers “Overwhelming Evidence of Racial Discrimination in the Job Market.” Black Enterprise, May 28, 2014. http://www.blackenterprise.com/news/black-graduates-twice-as-likely-to-be-unemployed/
- “Statistics that Hurt: Racial Discrimination Still Affects Minority Wages.” January 8, 2014. https://insight.kellogg.northwestern.edu/article/statistics_that_hurt
7 thoughts on “What if we all increased our spending at black owned businesses?”
I love all of your posts!!! The nerd in me loves that you have references on here lol. It’s true though if we used more of our money to put back into each other we would thrive so much more.
I love that people are talking about supporting black owned everything a lot more. I think, also, if we look at it as an investment into the future of our people, it might make the decision to shop black owned easier. I feel the reason many people opt out is because it’s often not as convenient as shopping at the places that have the resources to support constant and effective marketing, and product/service offerings to us.
I’m not sure why ppl are apprehensive when it comes to supporting black business. I for one want us to win so I try my best to support as many black businesses as possible.
I’m going to check out your list. I’m trying to do a better job of shopping with black businesses.