Celebrate Black Business Month: 5 Simple Ways to Support Black Entrepreneurs
Celebrate Black Business Month: 5 Simple Ways to Support Black Entrepreneurs
Supporting Black-owned businesses is a powerful way to positively impact our communities and help close the racial wealth gap.
According to a 2019 report by the Federal Reserve, the median wealth of white families was $188,200, compared to just $24,100 for Black families. By supporting Black-owned businesses, we’re not just buying a product or service; we’re helping create jobs, boost local economies, and provide opportunities for Black entrepreneurs to thrive. This kind of support can be a game-changer, helping to bridge the wealth gap and ensure everyone has a fair chance to build a secure financial future. We take a meaningful step toward a more inclusive and equitable economy whenever we support a Black-owned business.
Supporting Black-owned businesses is a meaningful way to contribute to economic equity and celebrate diversity. There are many simple and effective ways to show your support and make a real difference. Everyone can play a part in making conscious choices in their spending habits to amplify the voices of Black entrepreneurs.
Whether through your wallet, social media presence, or network, here are five impactful ways to support Black-owned businesses and help create a more inclusive and thriving community for all.
1.Shop with Them: Make a conscious effort to purchase products or services from Black-owned businesses, whether online or in person. Look for directories, marketplaces, social media pages, or local community lists highlighting these businesses. Regularly choosing to buy from Black entrepreneurs helps increase their visibility and contributes to their growth and sustainability.
2. Share Them on Social Media: Now that you have found and patronized a Black-owned business that provides the goods and services you love. It’s time to increase its visibility so that others like you will shop with them, too. You can promote this by posting on social media, texting friends and family, and even emailing. You could post a picture of the product you bought and tag the business.
3. Engage in Collaborative Partnerships: If you own a business or are part of an organization, consider collaborating with Black-owned businesses. The collaboration could be through joint ventures, events, or featuring their products or services. Partnerships can open new opportunities for exposure and growth for both parties involved.
4. Write a Testimonial: An authentic testimonial can do wonders for a business. If you purchased a product or service from a Black-owned business that you loved, send a testimonial. You can message or email the business owner and let them know you’ll provide a testimonial they can share.
You could write the testimonial on review platforms. A good testimonial highlights how the product or service solved your problem. You can speak about how it made a difference in your life and why you would recommend it.
5. Share Resources: Point entrepreneurs in the right direction so they can succeed better. Knowledge is POWER! Suppose you need to figure out what resources to share. In that case, you can share our business website (Vivian’s Door), which covers grant news, funding opportunities, recurring business classes, business mentoring, and more. You can also send them to their local chamber or the Small Business Administration for events and helpful information.
Celebrating National Black Business Month is an excellent time to recognize and show support for black entrepreneurs. So, are you ready to get involved and make a difference? Remember, celebrating and supporting black-owned businesses isn’t just a one-time thing—it’s a commitment to fostering diversity, equality, and success in our communities. Let’s get started!
