Why Ethnic Loyalty and Support for Black-Owned Businesses Aren't Outrageous

In recent discussions, there seems to be a prevalent attitude that Black people supporting their own businesses based on shared ethnicity is somehow an outrage. Conversely, every other race is portrayed as freely and responsibly loyal to their communities. This misconception is not only misplaced but also harmful to recognising the unique challenges faced by Black-owned businesses and the importance of supporting them.

Economic Empowerment through Community Spending

The assertion that a dollar spent in a Jewish or Asian community turns over multiple times within that community before it leaves is an interesting economic concept. In the case of Black-owned businesses, there is a perception that a dollar is quickly diverted outside the community. However, this perspective overlooks the economic empowerment and community strength that comes from spending locally.

According to recent data, in 2021, there were 161,031 Black-owned businesses in the United States, marking a 14.3% increase from 2020. While this is a positive trend, Black-owned businesses still only account for 2.7% of all businesses with employees. The history of systemic discrimination, limited access to capital, and biases has made it challenging for Black entrepreneurs to establish and grow their enterprises. Therefore, supporting Black-owned businesses is seen as a vital step towards economic empowerment and community strength.

The Historical Context

Historically, Black American communities have faced significant challenges, including direct and systemic discrimination. For instance, prosperous Black American communities like Black Wall Street in Tulsa, Oklahoma, were completely destroyed in the Tulsa Race Massacre of 1921. Successful Black business owners faced physical violence and threats, which has created a legacy of distrust and the need for economic support.

Given this historical context, it is not surprising that Black Americans are now supporting wealth accumulation within their community. It is a positive and essential step towards addressing the long-standing disparities and injustices.

Reasons for Supporting Black-Owned Businesses

There are several key reasons why supporting Black-owned businesses is not only justifiable but also important:

Economic Empowerment

Historical Discrimination and Modern Barriers: Black-owned businesses face unique challenges, such as historical discrimination, limited access to capital, and systemic biases. Empowering these businesses helps to level the playing field and promotes economic growth within the Black community. This not only benefits individual business owners but also the broader community by creating jobs and stimulating local economies.

Breaking Down Barriers

Obstacles Faced by Black Entrepreneurs: Historically, Black entrepreneurs have encountered obstacles that others may not have. By supporting Black-owned businesses, we help to break down these barriers and create opportunities for Black business owners to succeed. This is crucial in a society where systemic biases still exist.

Supporting Diversity

Richer Marketplace: A diverse marketplace is a healthier marketplace. Supporting Black-owned businesses contributes to a wider range of products, services, and perspectives. This diversity enriches the community and fosters innovation.

Investing in Your Community

Local Investment: Many Black-owned businesses are deeply rooted in their local communities. Supporting them means investing in the places where we live and work. This local investment helps to strengthen the community and enhance its overall well-being.

Conclusion

In conclusion, the support for Black-owned businesses is a rational and essential step towards economic empowerment and community strength. It is not about racial preference but about acknowledging the unique challenges faced by Black entrepreneurs and supporting them to overcome these challenges.

As we continue to move forward, it is important to recognize and celebrate the achievements of Black-owned businesses. By supporting these businesses, we are not only contributing to their success but also to the empowerment of a community that has long been facing systemic and historic obstacles.