Black-owned businesses make up a vital part of our economy and contribute significantly to the growth of the black community. In turn, the Black community constitutes the pillars upon which Black-owned businesses stand, and for them to thrive, we must be intentional about supporting Black-owned businesses.
In this read, we’ll look at some meaningful ways we can give Black-owned business support and help them thrive.
8 Meaningful Ways to Offer Black-Owned Businesses Support
- Shop Black-owned businesses.
One of the most significant ways to offer Black business support is to support them with your dollars. Businesses need customers to thrive and being intentional about where you shop can make a significant difference for black businesses. By shopping black-owned businesses, you not only uplift them with your purchasing power, but you also get to appreciate black talents and celebrate their creativity.
So next time you’re out shopping, go out of your way to find Black-owned businesses and shop from them.
- Investments and fundraisers
According to a Global Entrepreneurship Monitor report from 2013, the main reasons black-owned businesses fail are difficulties obtaining financing and a lack of profitability.
For black-owned businesses to thrive, they require capital that can cover 12-18 months after start-up, and if there are no other sources of funding, it might be another Titanic story. That’s where investments come in.
With your investments, black-owned businesses are sure of a substantial source of income, enabling them to be productive.
- Volunteer and partner with Black-Owned businesses.
As much as money tops the list when talking about Black-owned business support, sometimes the physical help we can render goes a long way.
If you have some free time, mind-blowing ideas, or valuable materials that can help a business grow, you should channel them into Black-owned businesses in your area. Your moral support can also boost their productivity.
- Hire Blacks
Another meaningful way you can offer Black-owned business support is by hiring them. Let’s say you have an occasion and need food – lots of it – hiring a Black-owned catering company will make them feel seen, contribute to their financial growth, and even get them more clients.
You don’t have to throw your criteria into the wind and hire just anybody because you want to support black-owned businesses. Rest assured that you can find competent Blacks in whatever space or industry you’ll be needing their services.
- Promote Black-owned businesses on social media.
If you can’t monetarily offer Black business support, spreading the word is just as important! Promote businesses on social media by searching them out and following them, sharing their photos or giveaways on your status or sharing your positive experiences, building awareness around local businesses, and helping them draw in new customers.
You can share content on social media sites like Instagram, TikTok, and Facebook to encourage people to patronize black-owned businesses, which are crucial channels for small businesses.
- Feature Black-owned businesses in magazines.
Featuring small Black-owned businesses, especially those in the service industry, in popular publications and other publications draws public attention to those businesses.
Forbes featured 100 Black-Owned Businesses to Support, including self-care, food, skincare, and clothing brands. Exposure like this promotes black-owned businesses, establishes the brand as a reliable supplier, and establishes the owner as an indispensable industry figure to watch.
- Order online from Black vendors
The Official Black Wall Street app is one you can use when you’re looking to buy online from Black-owned businesses. Black Owns Everything is another Black-owned business that offers a variety of Black-friendly products from accessories to clothing, shoes, and more.
Be on the lookout for online Black vendors and Black-owned businesses for your skincare products, baby clothes, branded items, and all you care to order online.
- Give meaningful reviews.
So did you love the wig you got from a Black-owned hair business? Say something nice. Did the service exceed your expectations? Shout it out!
Shoppers rely on reviews to make purchasing decisions, and every review helps. Writing detailed, positive reviews for a business’s Etsy shop, Google, or Yelp helps them increase their visibility and attract new clients.
There are numerous incredible Black-owned companies and creators, and there are several ways to support them aside from making a single purchase. It could be as simple as hitting a follow button or liking a photo on social media, recommending your favorite black-owned businesses to friends and family, or calling out injustice when you see one.
Whatever you do to offer Black business support, no matter how small, goes a long way, and it helps black businesses thrive.
How would you support your friend’s black-owned business?