With the Black Lives Matter movement gaining attention this past summer, so did the word of supporting black-owned businesses. But this should have happened sooner.
Not only does supporting black-owned businesses strengthen local economies and create more jobs (for all you worried capitalists), but it also helps close the racial gap. While it is not uncommon for people to deny that the racial gap exists, it can be traced back to the Jim Crow period, in the late 19th and early 20th centuries. It is now the 21st century, and this gap still exists, even though people claim times have changed. This fiscal discrimination derives from how opportunities to obtain qualifications for higher-paying jobs are denied to Black Americans, creating a domino effect that hinders them from many opportunities to have a sturdy, reliable income and benefits that come with many corporate jobs. The racial gap is a strong example of how racism is institutionalized and has become a prominent part of American culture and economics. By supporting black-owned businesses, you can contribute directly to the flow of income into Black families and communities, further supporting their financial situations and productions of generational wealth and property ownership.
Additionally, by pouring money into local black-owned businesses, you can help regulate local economies and avoid corrupt corporations that hoard their money to support the wealthy rather than the hardworking employees who get paid way too little. The modulation of local economies strengthens the national welfare by directing money through smaller communities instead of wealthy ones.
Systemic racism has played a large role in the foundation and prolongation of the American economy – an economy based on helping the wealthy and ignoring the poor. Due to the racism intertwined within this corrupt system, it is often BIPOC who get harmed the most by this economic bias. Black-owned businesses are often ignored and lack the funding that their white-owned counter-parts have to be more successful. By doing your research, instead of just going to the companies you see advertised the most, you can find smaller, more ethical businesses to support.
However, some black-owned businesses may create products that aren’t applicable or useful for you, but that doesn’t mean you can’t still support them. Many small businesses currently run on social media presences and so you can help spread the word of their business to someone who may be able to be a customer. Every like, comment, save, or share makes all the difference. Just 30 seconds of your time can go a long way for a small business owner trying to get a following!