Black Enterprise and Nationwide released a Buy Black Guide to show how people can support Black companies year-round. According to National Business League (NBL) president and CEO Kenneth Harris, the 41.6 million African Americans represent an estimated $1.6 trillion consumer economy, and they should be the number one consumer and supporter of Black businesses.
In celebration of the National Black Business Month, NBL will conduct its Black Economic Freedom Movement, which aims to digitize one million Black businesses and accelerate Black communities to find pathways to economic freedom and empowerment through business ownership.
In a 2012 column in Black Enterprise, author and activist Maggie Anderson offered a series of pointers on how to buy Black. Her suggestions include subscribing to a Black newspaper, buying gift cards at a Black-owned fast food store, opening an account at a Black-owned bank, purchasing Black-made products at mass retailers and grocery stores and supporting Black designers at the department stores.
There are many ways you can support Black businesses:
- As a consumer, you can shop at Black-owned businesses, hire a Black lawyer, accountant or doctor and take your dress or suit to a Black-owned tailoring company.
- As a Black business owner, you can become a supplier to other Black companies.
- As a leader of a large company, you can pledge to increase spending with Black companies. For example, Nationwide committed billions of dollars to Black businesses while Macy’s and Ulta Beauty signed the 15 Percent Pledge.