Black Spend Initiative

Spending within the African American community has a significant positive impact on the economic growth and development of the community. By supporting Black-owned businesses, the community is able to circulate wealth and create a level of self-sufficiency. Valuing and supporting Black-owned businesses not only helps African American entrepreneurs thrive, but it also provides jobs and economic opportunities within the community. In turn, this helps reduce unemployment rates and poverty levels within the community. Supporting a Black-owned business also helps bring a sense of pride and a feeling of unity – this is especially important given the current plight of African Americans and the ongoing fight for social justice. 

Furthermore, when the African American community spends within itself, it helps close the racial wealth gap. Studies have found that African Americans have significantly less wealth than their white counterparts, and this can be attributed to numerous factors, including lack of economic opportunities and the historical oppression of Black people within America. By spending within the community and supporting Black-owned businesses, African Americans can begin to take control of their economic destinies and gradually increase their wealth. This can ultimately lead to stronger, more self-sufficient Black communities that are no longer reliant on outside institutions or subservient to societal structures that are designed to keep them at a disadvantage.