WHAT IS ‘THE BLACK DOLLAR’?
As the name implies, the black dollar encompasses every transaction and dollar spent by any member of the black community. Unbeknownst to many, the black community is an enormous force in the American economy. As some of America’s most prolific spenders, our spending power is estimated at over a trillion dollars. Companies have taken note of the importance of the black dollar — and it’s past time that we do the same.
MONEY IN THE BLACK COMMUNITY
One of the best ways to create financial stability within your community is to directly invest in it. This means taking your hard-earned money and spending it on black-owned businesses, whether they be big or small. When you take a look at other, more financially wealthy communities, it becomes easier to see the disparity between black dollars and where they spend them. Let’s talk about numbers: In white communities, one dollar circulates within their community (i.e., businesses) for 17 days on average. In Jewish communities, the average is around 20 days. In black communities, our dollar tends to only circulate for 6 hours!! Part of this disparity can be explained by our lack of presence in the business space, as black-owned small businesses alone account for 7% of all small businesses in America. However, we can significantly improve this number - and secure a better future for our young ones - by spending more money at black-owned establishments, on black-owned brands, and investing in black startups and small businesses whenever possible.
SO WHAT DO WE DO ABOUT IT?
If you didn’t already know, now you see the power of our dollar. But you may be left asking, ‘what can I do about it now’? To answer that question, we’ve decided to initiate the PuffCuff BHM Challenge! In the next hour, we encourage you to take 100 dollars and put it directly back into the black community! It doesn’t matter if you plan on buying shea butter or a brand new outfit, invest five, Benjamin Franklins, into any of many black-owned businesses. With tax season coming up, now’s a great time to take your extra cash and put it back into the community. Don't know where to start? Check out our list of Black-owned businesses below that you can support!
Revolving wealth in the black community is possible, and it can start right now with you.
SO WHAT DO WE DO ABOUT IT?
We take pride in being a Black-owned business in the natural hair industry, which isn't as common as you'd think! So of course, we're going to include ourselves on the list. We're offering $10 off orders of $50 or more during Black History Month, so if you've been eyeing a PuffCuff now is the time to get one!
OR HERE'S A LIST OF 29 OTHER BLACK OWNED BUSINESSES
Below are 29 BOBs for your choosing to sow 100 dollars back into the black community. Get ready. Set. GO! You've got 1 hour. Up for the challenge?
|Posh Candle Co||poshcandleco.com|
|Positivity Alkaline Water||positivitywater.com|
|Uncle Funky's Daughter||unclefunkysdaughter.com|
|The Lip Bar||thelipbar.com|
|You Matter University||demetriusharmon.com|
|THE VILLAGE MARKET™||thevillagemarketatl.com|
|Healthy Roots Dolls||healthyrootsdolls.com|
|Pride Road Soda||prideroad.com|
|KB Kustom Wood Works||kbkustomwoodworks.com|
|Natastic Hair Lounge||Natastichairlounge.com|
|Divine Personal Chef||thedivinechefexperience.net|