BEHIND THE BLACK DOLLAR

African American people collectively spend 1.2 trillion dollars annually. However, only 2% of that money (26 billion dollars) is re-circulated amongst black people – the remaining 98% is dispersed outside the black community.

What is perhaps even more startling is the comparison of the dollar lifespan within different communities. The lifespan of a dollar in the Asian community is 28 days, in the Jewish community 19 days… In the black community, the lifespan of a dollar is a shocking 6 hours! This means that black people poorly circulate their money amongst themselves, therefore affecting the strength of the African American economy. Due to slavery and the brutal treatment of black people, they are already at a great disadvantage, It will take an average black family 228 years to accumulate the wealth their white counterparts have today.

In order for black people to better circulate their money, a conscious effort to spend at black owned businesses needs to be made. If black people better circulated their money, more black companies will thrive, more black people will be hired, and more black communities will be built.

This is why we have compiled a list of great black owned businesses – so that black can spend black!

By naturallybizzy_