Though it may feel as though Small Business Saturday has been around forever, the shopping event, which falls between Black Friday and Cyber Monday, is actually only ten years old. Small Business Saturday was founded by American Express in 2010 as a vehicle to encourage people to “shop small” during Thanksgiving weekend and beyond.
As we all get in gear for holiday shopping, it’s important that we not only remember to shop small but that we also remember to shop Black — especially this year. According to a report by the Federal Reserve Bank of New York, nearly half of Black-owned businesses have already been wiped out by the effects of the coronavirus pandemic. Further, their report found that Black-owned businesses are two times more likely to shutter than their white counterparts.
“Nationally representative data on small businesses indicate that the number of active business owners fell by 22% from February to April 2020—the largest drop on record,” the report said. “Black businesses experienced the most acute decline, with a 41% drop. Latinx business owners fell by 32% and Asian business owners dropped by 26%.”
We know that systemic racism is to blame and while the issues stemming from institutional racism can’t be solved overnight, what we do know is that we are so much more powerful when we unite and support one another.
Here are 10 Black-owned businesses that you should have on your radar as you shop this weekend.
Originally founded in 2007 as a storefront in Brooklyn, New York, Paper Doll Apparel returned in 2020 as a web-based fashion destination for the versatile woman. Offerings range from loungewear to contemporary pieces.