Spending Power: Support Black Business

November 23, 2014  |  
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Did you know that you hold power? It’s a well-known fact that money runs the world and controls how many things play out so with every dime that you spend and how you spend it, you help shape and influence things.

When was the last time you supported a black owned business? Do you even feel it’s important to do so? Well, African Americans are the second largest racial minority in the country with 43 million of us in the US. That’s a whole lot of power and what we do with it, is important. Supporting our own community should also be a priority.

THE FACTS
In 2012 The Nielsen Company released a report and it stated:
“The African-American consumer population continues to be a vibrant and dynamic market segment, providing both emerging and mature market attributes. Still the largest racial minority group in America, with a projected buying power of $1.1 trillion by 2015. Black consumers remain at the forefront of social trends and media consumption. The disparity in advertising dollars spent with African-American media is mapped out, suggesting a need for more fair methods.”

DID YOU KNOW?
Some of the companies you support each and everyday for household items, beauty supplies, shoes, accessories and the list goes on, don’t even think it’s necessary to spend money advertising to black people or don’t even put us in their Ads. So, if they don’t think you’re important why keep supporting them?

SO HOW CAN YOU SUPPORT BLACK OWNED BUSINESSES?

STEP 1-CHECK OUT supportblackowned.com

A message from the site: On the site you can easily find Black Owned businesses in any part of the country to perform any task needed. By making a choice to patronize Black owned businesses you not only show support for your brothers and sisters, you will also be recycling dollars within our communities which will help improve and rebuild our neighborhoods. Black Business owners not only become more accessible to customers, but get to list their business on our site free of charge. Would you like to build new relationships, improve your services through engaging interaction? Well in addition to the directory we also provide a Networking platform free of charge, for business owners and consumers to interact. Have you joined SBO? What are you waiting for?

STEP 2-SUPPORT YOUR FRIENDS
Support friends you know that have a business. The holidays are coming up and instead of heading to your local department store, ask your friend who is a jewelry designer if you can purchase necklaces for your aunts for Christmas. If you have a friend who makes greeting cards, give her a little notice and order them from her to go with your presents. Yes it’s true that supporting black business sometimes requires a little more effort because depending on the type of business they aren’t as easily accessible but it’s totally worth it in the long run.

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