“With Black spending power hitting nearly $1 Trillion annually, there is no reason for our families to live in economically depressed communities. We (Blacks) comprise 13% of the US population and yet one out of five Black families lives in poverty. There is also no reason for Black owned businesses to struggle. We must reinvest our dollars in our community and the Black Friday initiative strives
to provide real, attainable solutions to end these disparities,” shares Isaac K. A Small Business Administration report notes that Blacks own 5% of all US firms and only 1.8% of those companies employ more than one person. Williams continues, “What’s most alarming is that more than half of the Black-owned businesses had less than $10,000 in business receipts in 2002, compared with one third of white-owned firms and 28.8 percent of Asian-owned firms.” The report also concluded that for every dollar that a white-owned firm made, Pacific Islander-owned firms made about 59 cents, Hispanic-, Native American-, and Asian-owned businesses made 56 cents, and Black-owned businesses made 43 cents on average. Beginning Friday, August 23rd, Black Americans are asked to visit, purchase a product or a service from a Black-Owned Business and share their experience on the Black Friday Business Initiative page. In addition, Black-Owned Businesses are encouraged to reinvest the money received from Black Friday supporters through community programs and initiatives. For more information on the Black Friday Business Initiative or to list your Black-owned business, please leave us a detailed message in our inbox and we will contact you.
