African American consumers possess around 1.2 trillion dollars in consumer buying power. This is estimated to increase to 1.3 trillion in 2017. With all of this buying power, so little of it is actually reciprocated back into our own communities. Blacks spend less money in Black-owned businesses than other racial and ethnic groups, yet a lot of our communities face poverty and despair. Supporting Black owned business will help money stay in our communities.
With the support of Black-owned business also comes the creation of jobs, and building wealth in the communities. Black-owned business may be able to better relate provide the products that African Americans need. I recently went to Target looking for a pick, and hair moisturizer. I scanned the Ethnic hair care section and found a very limited selection of hair care products, and to my surprise I could not find a pick. I'm sure that we can all relate to not being able to find products in places that do not seem to understand our needs.
Black owned business will be better equipped to handle Black needs. I believe that this, in turn, could provide a sense of unity amongst African American communities in a time when it is needed most. We are battling inner conflict within our communities as well as conflicts against our communities. With over 1.2 trillion dollars in consumer power, we can create an economy that stimulates positive gains in our schools and neighborhoods. It may not be easy, but what worth fighting for ever is?
