Why Should We Care About Whom We Buy From? Black-Owned Businesses

Adapted from original article by Kyla Göbel in Hi5 titled, "Why You Should Support Black-Owned Businesses"

Black people comprise approximately 14% of the U.S. population, but only 2.3% of owners of employer firms. White-owned employer firms represent 83.5% of all employer firms while being 75.3% of the population. Source here.

Buying from Black-owned Businesses helps Close the Racial Wealth Gap

The support of Black-Owned Businesses can increase the flow of wealth to black families and the communities where they live and work. This will help close the racial wealth gap over time.

Buying from Black-owned Businesses helps create Jobs & Opportunities

Supporting these businesses contributes to creating entrepreneurial opportunities. Entrepreneurship fuels economic prosperity and serves as a bridge for low-income families to move up to middle-class status.

This in turn will give greater buying power and influence to these families, which will enable them to support more local and international Black-Owned Businesses and contribute to more job creation.

Image from Virtuous Millionaire, an organization started by Valerie Rowan to foster Women entrepeneurs

Go To Valerie's Products

Buying from Black-owned businesses supports Our Communities!

By choosing to support Black-Owned Businesses, you’re supporting black pride, unity,

and self-determination.

While this paradigm shift may be intimidating to those who currently benefit from the status quo, a more equitable distribution of wealth would mean an enormous positive change for the business community and families alike.

Buying from Black-owned Businesses helps diversify the Green Economy

The prosperity of a green economy depends on the celebration of diversity by and for all people. The green movement has historically seen an underrepresentation of people of colour and is at present wrestling with the lack of diversity in its activism.

Bringing attention to Black- and Minority-Owned Businesses can go a long way in demonstrating that the green movement is everybody’s movement. When Minority-Owned Businesses have a financial platform to stand on, they can support the green economy and inspire more people to become part of the green movement.

Image from @lagreencorps

So What Do We Do?

Buy Local and Support Black Entrepeneurs

The more support these local businesses get, the more the demand for their products and services will increase.

Driving more revenue to Black-Owned Businesses will eventually mean more affordable, local goods that are making a real impact in your community.

New Orleanian shoppers, look here for Black-Owned Local Businesses!

New Orleanian entrepeneurs, look here for valuable links to supporting organizations.

Photo of owner, Frankie, from @franksplantbasedmarket

Go to Frankie's Products

Follow and share Black-owned Businesses on Social media

Social media is a powerful tool you can use to make people more aware of Black-Owned Businesses.

You can use the #BlackOwnedBusiness hashtag and encourage your circle of influence to do the same. Follow Black-Owned Businesses and share their content, so that these businesses can grow their audience and awareness of their brands.

Link to #BlackOwnedBusiness on Instagram
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