As black businesses are on the rise, January 1, 2019 is a good time to up your commitment to supporting them. African Americans spend in excess of one trillion dollars a year as consumers. Yet, the amount of this trillion plus dollars spent at black owned businesses hovers around 3%. The reasons for patronizing black businesses are numerous. These include but are not limited to, wealth building in the community, job creation, finding quality and culturally relevant goods, and helping to offset inequities (e.g., unequal access to business capital).
A lot of what we consume is already produced and distributed by numerous black businesses, and there are many tools to help you shop black owned (e.g., apps to identify local businesses, online newsletters and blogs, pop ups, local tours and events, word of mouth, and social media). These tools make it easier to redirect more dollars to black businesses offering the goods and services you seek. As the new year begins then, consider what motivates you to shop black owned. Some examples include one or all of the following.
- To help create wealth in the black community,
- To support black entrepreneurs,
- To express ethnic pride,
- To find great products that suit your needs, and
- As a form of resistance against wealth inequality.
Keep your reasons in the front of your mind as you think about your options as a consumer on a daily and weekly basis. As we end Kwanzaa today on the principle of Imani (faith), let us resolve to keep black businesses open and make them thrive. Let us have faith that we can rise together!
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Happy New Year and Happy Shopping!
ALSO, Shop With Leslie is offering a Premium Content section with Buying Guides and Sales Information. You will find 1000+ gifts for $25.00 and less from black owned companies. That is 300+ gifts for $10.00 and less, 200+ gifts from $10.01 to $15.00, and 500+ gifts from $15.01 to $25.00. We do the legwork so you don’t have to! There will be updates and posts throughout the year. Sign up HERE for the low cost of $4.95 per year.
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- Ball, Helena. “Number of black owned businesses grows, challenges remain.” 1 September, 2016. https://www.inc.com/helena-ball/new-entrepreneurship-us-census-survey-black-owned-businesses-increased-lag-remains.html
- Brown, Carolyn M. “New #buyblack push to create 1M jobs.” 13 December, 2016. https://www.blackenterprise.com/maggie-anderson-push-create-1m-jobs-buying-black-owned-businesses/
- Thompson, Brian. “The racial wealth gap: Addressing America’s most pressing epidemic.” 18 February, 2018. https://www.forbes.com/sites/brianthompson1/2018/02/18/the-racial-wealth-gap-addressing-americas-most-pressing-epidemic/#6a3014677a48
- Tucker, John. “The road to 1.5 trillion in black buying power and dispelling a common myth.” 13 December, 2017. https://www.blackenterprise.com/the-road-to-1-5-trillion-in-black-buying-power/
- “What if we all increased our spending at black owned businesses?” 21 November, 2017. https://shopwithleslie.blog/2017/11/21/what-if-we-all-increased-our-spending-at-black-owned-businesses/