5 Ways to Support Black-Owned Businesses

5 Ways to Support Black-Owned Businesses

There’s never a wrong time to support Black-owned businesses, but this weekend gives you a really good reason to.

June 19th is Juneteenth. Juneteenth celebrates the emancipation of African-Americans who had been enslaved in the United States. The holiday has officially been designated as a federal holiday on June 19, 2021.

To celebrate what African-Americans and the rest of the Black community have done for this country, you might be wondering what you can do to support Black-owned businesses. Here are six things you can do to lift up Black-owned businesses.

Buy Black-owned products

One of the most impactful and direct ways to support Black-owned businesses is to buy Black-owned products, online or in-person. A simple search online will give you an endless amount of options to choose from. Black-owned products are abundant in categories like skin care and beauty, hair care, food and drink, and clothing.

For example, one of our favorite Black-owned businesses is BLK & Bold. BLK & Bold is the first Black-owned, nationally distributed coffee brand. BLK & Bold sells freshly roasted specialty coffees and loose leaf teas delivered straight to your door. 

There’s also McBride Sisters Collection, a line of wines that reflect each of the sister’s upbringing on opposite ends of the globe – Robin in Monterey, California and Andréa in Marlborough, New Zealand (just in case you want to get a little tipsy).

Additionally, if you want to see which Black-owned products are comparable to popular products and products from corporate brands, you can check out our tool here.

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Share Black-owned businesses on social media

Social media is a critical marketing channel for a lot of businesses. The amplification aspect of social media can turn simple content, thoughts, and ideas to viral stories, which is why social media is the perfect place to promote Black-owned businesses.

If you have a following on any social media platform, consider sharing your favorite Black-owned businesses and products. To increase amplification, use hashtags like #BlackOwned, #BlackOwnedBusiness, and #BuyBlack in every post. You can also use repost and retweet functionalities on platforms like Facebook and Twitter.

One thing to keep in mind is that around occasions like Juneteenth and Black History Month, thousands of other people are also sharing Black-owned businesses, so by engaging on social media during these times, you might be able to find a Black-owned business that you want to support directly by buying from them.

Bank Black-owned

Black-owned banks and banking products exist. They may not be as big and popular as the likes of Bank of America, Chase, and Citibank, but they’re worth trying out if you want to manage your money with a Black-owned financial institution or app.

One app that’s growing in popularity is Greenwood. Started by rapper Killer Mile, Greenwood is a mobile banking platform inspired by the early 1900’s Greenwood District. The platform was made specifically for Black and Latino customers. Their services include digital savings and spending accounts, P2P transfers, no hidden fees, a global ATM network, and more.

Then there’s Carver Federal Savings Bank, which is considered the “largest black-owned financial institution” in the United States. Carver Federal Savings Bank was founded in 1948 by M. Moran Weston, who was an Episcopal priest. Today, Carver Federal Savings Bank offers a wide range of financial tools, including online banking, deposit and savings products.

Help Black-owned startups get funded

A barrier to business growth in the Black community is the lack of funding. For example, of all venture funding in 2020, less than 1% went to Black founders. It’s simply not easy being a Black founder in a system that doesn’t equally distribute resources.

If you want to help Black-owned businesses, help them find funding by sharing resources for business grants, loans, and venture capital. We’ve developed a tool that helps underrepresented founders find VCs that want to invest in them. If you have friends, family, colleagues, or neighbors who are Black business owners, share our tool and other resources to help them get funded.

Eat at Black-owned restaurants

One thing the Black community is really good at is whipping up delicious dishes. From smoking BBQ to hearty southern fares, food that comes out of a Black kitchen just seems to always turn into gold.

If you have an appetite this weekend, enjoy a meal at a Black-owned restaurant in your area. A simple Google search should do the trick. If you’re one of the unlucky ones who don’t live in an area with a Black-owned restaurant (that must really suck), then you can go the digital route and get food items shipped to your home.

For example, Sylvia’s Harlem Restaurant based in Harlem, New York sells products online. You can order food items from top Black-owned restaurants across the country and cook up your own dish at home (if you get down like that).

Although we think you should support Black-owned businesses all year round, this year’s Juneteenth is a special time to uplift an important part of the Black community.