Empowering Black-Owned Businesses: A Step Towards Generational Wealth
In a significant move, Yelp is set to launch a feature that makes it easier to support Black-owned businesses. This new tool, rolling out in the coming weeks, allows users to search specifically for Black-owned businesses, providing a much-needed boost to these entrepreneurs. To be featured, business owners will need to opt-in to the program.
The Importance of Supporting Black-Owned Businesses
The current Black Lives Matter protests have brought attention to the need to support Black-owned businesses. Unfortunately, 40% of these businesses are at risk of not surviving the coronavirus pandemic. In the United States, business ownership is a crucial tool for building generational wealth, similar to owning a house. It can provide a sustainable income source for future generations. However, Black families own a disproportionately small percentage of American businesses, with only 124,004 firms owned by Black or African Americans in 2017.
Ways to Support Black-Owned Businesses
While financial support is crucial, it’s not the only way to help. Leaving a 5-star review on platforms like Yelp can make a significant difference. There are also extensive lists of Black-owned businesses to support, including bookstores, clothing brands, jewelry designers, and restaurants.
Discover Black-Owned Businesses in Your Area
For book lovers, there’s Community Book Center in New Orleans, The Lit. Bar in New York, and Eso Won Bookstore in Los Angeles. In the fashion world, LaQuan Smith, Cushnie, and Christopher John Rogers are just a few notable brands. When it comes to jewelry, Valerie Madison, Tribe And Glory, and Humans Before Handles are worth exploring.
EatOakra: A Game-Changer for Black-Owned Restaurants
The EatOakra app, founded by Anthony Edwards, Jr. and Janique Bradley, allows users to browse and find Black-owned restaurants in cities across the country. You can even order delivery or purchase condiments from businesses within the app. Official Black Wall Street is another valuable resource for finding Black-owned businesses, with a 30-Day Buy Black challenge that highlights and showcases Black businesses between June 19 and July 19.
Making a Lasting Impact
While donating to the Black Lives Matter movement and similar causes is essential, consider setting up a recurring donation to provide ongoing support. Even small amounts, like $5, can make a significant difference. Through collective action, we can create long-term changes that bring true equality to our society.
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