Supporting Black Owned Businesses

Blacks have a collective buying power of 1.3 trillion dollars, but very little of that money stays in the Black Community or goes to the Black-Owned-Business. 

According to Maggie Anderson, just 2 cents of every dollar an African-American spends in this country goes to Black-owned businesses.  In her book, Our Black Year: One Family’s Quest to Buy Black in America’s Racially Divided Economy,  Anderson recounts her experiences patronizing black-owned businesses while highlighting the challenges many black businesses face (black businesses lag behind all other businesses in every measure of success). 

I had the honor to hear George C. Fraser, Founder of FraserNet, Inc and the Power Networking Conference say, "Buy Black, but sell to everyone". Which means to me, keep Black dollars in the Black communities.

Research has found that if higher-income Black consumers spent at least $1 out of every $10 with Black-owned businesses, it would generate one million jobs for African Americans. Knowing how much of an impact supporting black business can make, how do we go about supporting them? ?