Buying Black to Support Black Owned Businesses, Reduce Unemployment and Improve Our Communities. Unequal Wealth Distribution is not totally to blame for Black America's lowly economic status and accompanying quality of life. Black-owned businesses were more likely to be in industries hit hard by coronavirus-related restrictions, such as retail and hospitality, according to a study by the Economic Policy Institute , a labor-oriented think tank.
It is a directory of black-owned businesses. Black owned business listings are looked over by more than just members of the host organization. When millions of people declare, even just online, to their family and friends that Black lives matter, or encourage their friends to support Black-owned businesses, it can cause a seismic shift.
Once Blacks began to integrate, we abandoned our businesses, schools and communities, we also lost disposable income that was redistributed to White communities, and we even lost our middle-class Black role models, who followed Whites to the suburbs.
And early evidence shows it is disproportionately hurting black-owned small businesses. Only 14 percent of black-owned businesses generated annual profits of $10,000 or more, compared with 30 percent of white-owned businesses. She says a thriving Black business ultimately supports a thriving community.
It is by no means an exhaustive list: We aren't including numerous high-profile celebrity entrepreneurs like Oprah Winfrey or Rihanna or the many successful black business owners who sell services to other corporations, like World Wide Technology's David Steward.