In 2022, a study revealed that only 3.12 million businesses in the United States were black-owned. This number is staggeringly low, especially considering that black Americans comprise about 13.6% of the population. Something needs to be done to help support and grow black-owned businesses. In this blog post, we will discuss ways that you can help black-owned businesses succeed in 2022 and beyond.
Let us discuss some ways that you can help black-owned businesses in the coming year:
How to help black-owned businesses
As a black business owner, I wanted to put together some tips on how you can help support businesses owned by black folks across the US from now on into the future. It might seem common sense to support businesses that look like you, but with the current state of the world, it’s become more critical than ever.
Here is how you can help our businesses:
Shop at a black-owned business
Many businesses depend on customer revenue and cannot survive without that. The best way to support a black-owned business is by becoming a paying customer. You can find black-owned businesses in your area by doing a quick Google search or looking up directories like Bob Directory.
Once you identify a business, try to visit the establishment and buy something. If you frequently shop at a particular black-owned business, you can become one of their regular customers. When you do this, you help support the business’s cash flow, which is essential for its survival.
Some people may be unable to visit the biz physically due to location or time restraints. In this case, you can support the business by shopping online or through other digital means.
Referrals
Referrals are another great way to help black-owned businesses succeed. If you had a positive experience with a particular business, refer it to your friends, family, and acquaintances. The more customers a business has, the better its chance of surviving and thriving.
When you refer a black-owned business to someone, provide all the necessary information, such as the business’s name, address, contact details, and website. This will make it easier for people to find and patronize the business.
Leave Online Reviews
Online reviews can make or break a business in today’s digital age. People often consult online reviews before patronizing a particular business. If you had a positive experience with a black-owned business, leave a review on its Bob Directory, Google, Yelp, or Facebook page.
Positive reviews will encourage others to try out the business, which is excellent for its growth and expansion. On the other hand, negative reviews can deter potential customers from doing business with the company.
So, leaving honest but positive reviews that reflect your genuine experience is essential.
Share Posts on Social Media
Social media platforms like Facebook, Twitter, and Instagram have become powerful tools for marketing businesses. If you see a black-owned business you like, follow its social media accounts and share its posts with your network.
This simple act can help increase the business’s reach, leading to more customers and sales. Apart from sharing, you can also comment on and engage with the business’s posts to create a deeper connection with its online community.
Invest In Them
One challenge minority-owned businesses face is access to capital, and you can help black-owned businesses by investing in them. There are many ways to do this, such as becoming a silent partner, donating money, or providing loans.
Of course, you should only invest in businesses you believe have growth potential. Doing your due diligence is essential to minimize the risk of losing your investment.
Offer Mentorship and Resources
If you are in a position to do so, you can help black-owned businesses by offering your expertise and resources. For instance, you can advise on marketing, accounting, finance, and other areas where the business may need assistance.
You can also offer to connect the business owner with helpful contacts or resources to help them grow their company.
Some organizations, such as the National Black Chamber of Commerce and the US Black Chambers, Inc, focus on backing black businesses’ grant applications. You can support these organizations financially or by volunteering your time and skills.
Becoming a member of such organizations is also a great way to show your support for black-owned businesses.
Invest in the Black community.
One thing about the black community is that it is very supportive. So, when you invest in black-owned businesses, you also invest in the black community.
Your support helps to create jobs, spur economic growth, and promote social and economic justice. It also helps to break down barriers and ensure that black-owned businesses have equal access to opportunities.
Bottom Line
As a black business owner, I appreciate any support that helps my business grow. I hope this article has given you some ideas on how you can help black-owned businesses in your community. Together, we can help these businesses succeed and create a brighter future for everyone.
