Mind Yo Business

 

 

 

  According to Black Excellence, black-owned or black businesses were in existence well before the abolition of slavery. We as people, were forced to operate and support our own businesses during the era of Jim Crow system, and the Black Codes. So why has black entrepreneurship declined over the years? Many scholars point to integration, some reference this decline to the market concentration, but a major player in the loss of black businesses can be directly tied to the decline in enforcement of anti-monopoly and fair trade laws beginning in the late 1970's. Despite all the resistive forces in our history we as a community must learn to purposely practice creative group economics in order to change our position in this country. 

    Based on studies done by the NAACP and other organizations the black dollar in unregulated. In fact, the dollar only circulates about 6 hours before it leaves the black community. Where them dollars at? Ourblex, provided some insight our how we spend our money in greater proportion to our population. Maggie Anderson, in her book Our Black Year, One Family’s Quest to Buy Black in America’s Racially Divided Economy, stated that if the Black middle-class increased the circulation of the Black-dollar to the Black community from 2% to 10%, we would see 1 million new jobs. Tools such as the Black Dollar Index can be used by black Americans and their allies find how certain corporations and business rank as it pertains to critical factors for racial equity.

     We must no longer spend our money frivolously, it must be calculated, intentional, and with purpose if we are going to elevate our status.

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