The power of 100+ Black Owned Businesses
February 7, 2019
Black Americans make up just 13 percent of the U.S. population, and yet, we're on trend to have a buying power of $1.4 trillion in 2019.
The average Black-owned business grosses only about $72,000 per year, according to the U.S. Census and the national average for other minority businesses is $179,000 per year and a whopping $490,000 per year for non-minority businesses.
Over the past few weeks, we are compiling a 100+ Black Owned Business Listing. The list will be comprised of Black-owned businesses from around the Metropolitan Detroit area. The reasons I wanted to compile the list is tri- fold. First I wanted to show that there is strength in numbers. I'm sure you have heard the saying 'out of site out of mind'. If you don't see Black owned businesses with a storefront, you might assume that there are not many black businesses in your community....but there are. The second reason is to show youth some HOPE. Being an entrepreneur is an option that isn't taught in most schools. The school curriculum includes a college preparatory plan and maybe a trade school plan, but not an 'Own your own business plan'. In that case, we, the business owners can be the curriculum that the students can come to for instruction. Many students graduate from high school not realizing that they have a gift that can result in a business that will help sustain their family. The third reason I decided to compile this list of 100+ Black Owned Businesses is to help create wealth for the business owners. Yes, I said wealth. Webster's defines wealth as the value of all the property, possessions, and money that someone or something has. Our ability to help others attain wealth will directly affect the amount of wealth that we ourselves will accumulate.
My challenge to the readers of the Telegram is to support the businesses listed in the 100+ Black Business Listing that will be published on Thursday, February 28th. If we go the extra mile to help each other, we all will be successful.
For more information on having your business listed send an email to [email protected] or call 313-928-2955.
HAPPY BLACK HISTORY MONTH!