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