This weekend is all about practicing what we preach! Lets practice group economics at scale. We are gathering Feb 4 – 5th to support a local Pensacola entrepreneur, Crystal of JoJo’s Beauty Supply. Let’s make plans to come out and support her for this Black Business Weekend Feb 4 – 5th 2022.
We NEED 1000 people to come and spend $20 or more. #ShopLocal #ShopBlack
Black Business Weekend 2022
We want to practice group economics at scale. We created an event that encourage Black consumers to spend their money intentionally with Black Producers. 1000 People Spending $20 or more is equal to 20k of revenue over a weekend for a Black Business.
When small businesses flourish, so do their communities. A 2017 study by the National Community Reinvestment Coalition actually found that banks were twice as likely to provide business loans to white applicants than Black ones and three times as likely to have follow-up meetings with white applicants than more qualified Black ones. Visit Green America
Many large companies vocally support minorities but practice policies that keep systems of injustice intact. Whether Gucci’s blackface sweater, H&M’s unsound marketing, Starbucks’ removing people from its store, or Facebook’s hiring diversity problem, African Americans and other minorities often bear the brunt of corporate discrimination. When you choose a Black-owned business over problematic companies, you vote with your dollar by divesting from these practices and hold companies accountable. And further down the road, you empower successful minority-owned businesses to implement equitable policies. Visit Green America
Black business owners still receive less business financing, less often, and at higher rates. Only 18% of Black business owners report receiving assistance from loan officers in completing business loan applications. Visit SmartBiz
Many African American business owners fund their own businesses due to the lack of capital. This means that most Black-owned businesses are sole proprietorships that don’t make enough money to pay employees. Since Black-owned small businesses are likely to hire from the local community, supporting them can foster the job opportunities people need to achieve financial stability. Visit Green America
The number of active Black-owned businesses fell 41% between February and April 2020. And for those that have been able to keep their doors open, an August survey of 3,500 small-business owners found that less than 10% would describe their business as profitable and growing. The observance of Black History Month this year brings an opportunity for a much-needed focus on supporting Black-owned businesses. To generate long-term impact, it’s critical to foster wide-scale, intentional support of these businesses year-round. Visit Forbes
It has never been easier to show your support for Black Business Weekend 2022.
