African-American buying power is close to 1.3 trillion. So, why not use your hard-earned money to make an impact in the black community? The idea of black capitalism goes back many decades. Civil rights activists Booker T. Washington and Marcus Garvey advocated that African-Americans create and do business with their own to build wealth the black community.
Today, there are close to a million black businesses in the United States, accounting for more than $100 billion in annual sales, according to the National Black Chamber of Commerce. The latest U.S. Census numbers report that blacks have more than $800 billion in expendable income each year. The lifespan of a dollar in other minority communities is significantly shorter when compared to money circulating in the black community. For example, Asian and Hispanic communities have more banking capital and create goods and services that allow them to recycle money in their communities.
Promoting your black owned business, is an ongoing activity that involves everything from word of mouth, to trade shows, to paid advertisements in the media. Increasing your visibility among black buyers helps to eliminate the excuses to spend our dollars in other communities.