So You Want to Support Black Owned Businesses
We all know that it is important to support small businesses, even more so now that we are in the middle of a pandemic. According to the site Jungle Scout, “Amazon earns $232.9 billion a year, that translates to: $19.4 billion per month. $4.5 billion per week. $638.1 million per day.” Meanwhile, small businesses are shuttering, the unemployment rate is climbing, and winter is coming.
It should come as no surprise for those watching the news and reading about the pandemic that COVID-19 has hit the Latinx, Indigenous, and Black communities the hardest. Latinx and Indigenous individuals have a rate of infection that is 2.8 times higher than White individuals. And Black individuals have an infection rate that is 2.6 times greater than that of White Individuals. On top of that, “40 percent of Black-owned businesses have closed since lockdown, while many have systematically been shut out from receiving federal assistance during the pandemic.”
So….why buy from Black owned businesses?
Supporting Black Owned Businesses Narrows the Racial Wealth Gap - “The racial wealth gap is much larger than the wage or income gap by race. Average wealth for white families is seven times higher than average wealth for black families. Worse still, median white wealth (wealth for the family in the exact middle of the overall distribution—wealthier than half of all families and less-wealthy than half) is twelve times higher than median black wealth.” (Economic Policy Institute)
African Americans own the smallest amount of businesses of all the marginalized groups.
Supporting Black Owned Businesses Helps to Improve Local Economies - Small businesses donate 250% more than larger businesses to non-profits and community causes
Black women business owners are the fastest-growing group of entrepreneurs in the U.S. but also have the hardest time getting funding for their businesses when compared to White women entrepreneurs.
How to find a Black Owned Business to support in your community:
Twitter and Facebook have a ton of crowd sourced lists of Black Owned Businesses for you to peruse.
Support Black Owned - is a directory of Black owned businesses
Bay Area Organization of Back Owned Businesses Directory
SunUp App - SunUp is a Black-Owned app that enables the collective support of black-owned businesses by providing information about black-owned businesses in New York
Official Black Wall Street
Black Nation - Find or list your black-owned business in the highest rated social discovery app.
We Buy Black - an e-marketplace for Black Owned Businesses
Chez Nous - a global guide to inclusive businesses.
Post 21- A marketplace that focuses on modern and design forward products from black-owned businesses. You can spend forever searching through the gorgeous products on this site!
Want to dine at a Black Owned Restaurant? Check out the App EatOkra
Also, because I know we are all avid readers here, check out this list of amazing Black Owned Book stores. Our favorite is our local bookstore Ashay by the Bay.
One last link would be from this post with 181 links to Black owned businesses online.
Until next time teacher friends!
Bottoms up!