The Power of the Black Dollar!

  Studies have shown that the circulation of the dollar is about 28 days in Asian communities, 19 days in Jewish communities, 17 days in white communities, and just six hours in Black communities. Why is this? First, black owned businesses are often overshadowed by stereotypes that the products or services sold by them are often inferior to those being sold by some of the other races listed above. These stereotypes will often steer black consumers away from black owned businesses instantly taking the black dollar out of the black community. Sometimes these negative stereotypes about black businesses are uttered the most by black people. I've personally heard statements from black people after purchasing an unsatisfactory service or product sold to them by a black owned business. Statements that condemn black businesses collectively because of the negligence of one, while businesses owned by groups outside the black race are not subjected to this level of scrutiny.

 Some black people subconsciously  or maybe even consciously places all black businesses in the same group of inferiority. This is very unfortunate and unproductive. It is also one of the most challenging obstacles that black businesses, black consumers, and ultimately the black community have to overcome. Mentally and verbally labeling all black owned businesses as being inferior because one black owned business didn't live up to the expectations of its customers has been and will continue to be detrimental to the economic state of the black community. 

  In order for black people to gain economic independence we have to start supporting and spending our money with black owned businesses. In hopes that those black owned businesses will then reinvest some of their profits back into the educational system and infrastructure of local impoverished black communities. Communities grow rich when the money being spent with local businesses is then reinvested by the owners of those businesses back into that community. 

   Keeping the black dollar circulating in the black community as long as possible will give black people the opportunity to build and sustain a more enriched  economy. It'll give them an opportunity to build better schools in their communities, and create more black owned businesses leading to a more intelligent and wealthier race of people. Black people empowering black people with the power of the black dollar!!

Written by Terrence E. Forest

Edited Reginald Forest