Getting a business name out to the buying public is vital. We must understand that wealth is money you receive because of ownership of property - real estate, stocks and bonds, or business. An advocate for small business creation and economic development, Hix was named the 2010 Minority Business Advocate of the Year by the Native American Business Enterprise Center, a facet of the Minority Business Development Agency.
51 Additionally African American businessmen became more visible including billionaire BET founder Robert Johnson and private equity manager Robert F Smith 52 In 2015 The US Census Reported that there were 2.6 million black or African American-owned firms nationally in 2012, up from 1.9 million or 34.5 percent from 2007.
PayPal has created a $10 million fund to provide grants up to $10,000 to more than 1,000 Black-owned small businesses across the United States. To help get you started, I've gathered a few of my favorite Black-owned maternity and baby product vendors for you to check out.
Blair says it's important to not only
support black businesses, but also support the institutions that are working to address wider issues of unemployment, education and even technology gaps in poor communities, like the Black Chamber of Commerce. These businesses employed 975,052 people, an increase of 5.9 percent; their payrolls totaled $27.7 billion, an increase of 15.9 percent (not adjusted for inflation).
White people are systematically given opportunities to hold more jobs and economic capital in general, as well as the ability to enjoy generational wealth where many Black Americans don't get to. A 2016 Survey of Consumer Finances from the Federal Reserve showed that Black families have only 10 cents for every dollar held by typical white families, and one 2017 study concluded that (of the sample size that participated) 56% of Black Americans experienced discrimination at least once when applying to a job, and 57% experienced discrimination when it came to being paid equally or being considered for a promotion.