Understanding the importance of supporting Black owned businesses
Buying Black or spending money at Black owned businesses is the idea of investing back into the community. In the UK, the spending power of the Black community is worth around £300 billion. Yet much of this money is spent outside of the community. The movement to #BuyBlack builds on Black purchasing power, supporting Black economic growth and championing representation.
For Black communities, it's the understanding that we want to buy products that are a reflection of our lifestyles. This includes hair products that protect our kinky curls, artwork that reflect the Black British experience or foods that remind us of home. It is no longer sustainable to market mass products from consumption. Instead, recognising and celebrating representation is not only an unique selling point but also a way in which to tap into a niche and dedicated market.
Buying Black also means buying local. There is a growing movement across the UK to shop locally, at the community and larger national scale. At the community level, buying locally or buying Black helps promote community employment as the money used from business goes to hiring more community members.
It means having a personal touch while you shop. In other words, you see the people that are making your products. Consumers connect with vendors on a personal level, something which is missing when you buy products online. And at the national level, the government is dedicated to nurturing small businesses owners by supporting businesses with different loan offers.
This is not to say that buying from Black owned businesses is the only way to contribute to communities. Instead it's a reminder of the economic power that we have, the power to fully invest and uplift the businesses that serve us.