Blk Business.net

Name: Blk Business.net
Address: Atlanta, GA, US
Telephone: +14049411540

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06/21/2024

Preserving the Legacy: Addressing the Decline of Black Farmers in America!

Food is fundamental for survival. Can the African American community be empowered in a nation where none of the farmland is owned or controlled by Blacks?

In the annals of American history, the story of Black farmers stands as a testament to resilience, ingenuity, and perseverance against tremendous odds. However, over the past century, this once vibrant community has faced a stark decline, with the number of Black farmers plummeting from nearly a million in the 1920s to a mere 45,508 a century later.1 Reportedly, 80% of land owned by Black people has been lost since 1910 due to lack of access to legal resources to assure the transference of clear title ownership from one generation to the next.

01/12/2024

Are you looking to find Black businesses? Go to Blk Business.net and search for Black-Owned Businesses.

01/05/2024

A Better Search Experience is Blk Business.net

We set out to create a better online search experience for finding Black-Owned businesses and organizations. We focused on keeping the design clear and simple. Our design makes it easy to find, view information about, rate and contact Black-Owned businesses and organizations.

Pamela Williams-Phelps

12/22/2023

Social Impact Investing

Consider exploring socially responsible investing options that align with the goals of uplifting the African American community. Social impact investing allows you to generate returns while also creating positive social change. One such example is Ariel Investments, the largest operating Black-owned mutual fund in the U.S. that focuses on providing capital to enable minority-owned businesses to set up their operations and scale, and to improve financial literacy among people of color

Pamela Williams-Phelps

12/15/2023

Homeownership and Community Development:

Homeownership is a key driver of wealth in America. Author Fo Alexander explains that passing down a home is just one way black families can begin to build generational wealth. Without property as a key asset, each generation must find other ways to acquire enough wealth to leave to their children.

Encourage investment in affordable housing initiatives, homeownership programs, and community development projects. By stabilizing neighborhoods and increasing property values, these efforts can have a cascading effect on economic empowerment.

Pamela Williams-Phelps

12/08/2023

Political Engagement:

Many Black Americans view political representation as a potential catalyst for increased racial equality, according to a June 2020 Pew Research Center survey. The 118th Congress, which was sworn in on January 7, 2023, is the most racially and ethnically diverse in history. Overall, 133 lawmakers identify as Black, Hispanic, Asian American, American Indian, Alaska Native, or multiracial. Together these lawmakers make up a quarter of Congress, including 28% of the House of Representatives and 12% of the Senate.

Black spending power should also be channeled into supporting political candidates and initiatives that prioritize the needs and concerns of the African American community. Voting, advocating for policy change, and participating in grassroots movements can be incredibly impactful.

Pamela Williams-Phelps

12/01/2023

Banking and Financial Literacy:

Black middle-class consumption patterns are an important variable in balancing the black economic equation. Research indicates that consumer debt, a product of consumer spending, has risen markedly among the middle class, where 63 percent of households are in credit card debt.

Chartered, regulated, and insured by the National Credit Union Administration, this summer, Alpha Kappa Alpha Sorority Inc. launched For Members Only (FMO) Federal Credit Union, the first black-owned, woman-led, sorority-based, digital banking financial institution in the history of the United States! Focused on efforts to generate economic and financial stability for women of color, AKA sorority members, their immediate families, and those who work for the organization, or the credit union will have access to primary savings, loans, and other banking services. “Everyone doesn’t understand the impact we make financially”, said Danette Anthony Reed, International President, and CEO of AKA Sorority. Alpha Kappa Alpha Sorority is comprised of more than 355,000 members in graduate and undergraduate chapters located in 12 countries.

Encouraging the African-American community to make informed decisions about banking and financial planning is critical. Access to affordable financial services and financial literacy programs can help individuals and families build wealth and secure their financial future. Consider supporting or promoting initiatives that provide these resources.

Pamela Williams-Phelps

11/24/2023

Before You Start Shopping For The Holidays, Check Out Harnessing Black Spending to Uplift The African American Community.

Read Full Article
https://blkbusiness.net/black-spending-power-reaches-1-6-trillion-in-2021/

Knowing how much impact supporting black businesses can make, Dr. Dionne Mahaffey author of 10 Ways To Support Black Businesses During Black Business Month shares that there are a multitude of options to find and support the 2.6 million black-owned businesses in this country.

Pamela Williams-Phelps

11/17/2023

Investing in Education:

According to The White House Proclamation on National Historically Black Colleges and Universities (HBCU) Week, 2022; HBCUs have produced 40 percent of all Black engineers, 50 percent of all Black lawyers, 70 percent of Black doctors, and 80 percent of Black judges in our country! Forbes.com contributing writer, Shaun Harper points out that in the 2022 academic year, the eight Ivy League institutions enrolled a total of 68,968 undergraduate students of which 5,063 were Black.4

Education is a powerful tool for advancement, and directing spending power towards educational initiatives can have a lasting impact. Consider supporting scholarship programs, after-school programs, or initiatives that provide resources for underprivileged students. Education is a gateway to breaking the cycle of poverty and creating future leaders.

Pamela Williams-Phelps

11/10/2023

1. Supporting Black-Owned Businesses:

One of the most effective ways to harness black spending power is by supporting black-owned businesses. When you choose to spend your money at black-owned establishments, you’re not only stimulating economic growth within the community but also creating job opportunities and fostering entrepreneurship. This can lead to greater economic self-sufficiency.

Author Maggie Anderson in her book, Our Black Year: One Family’s Quest to Buy Black in America’s Racially Divided Economy, concluded that only 2 cents of every dollar an African American spends in this country goes to Black-owned businesses.

The Anderson Research asserts that if higher-income Black consumers spent at least $1 out of every $10 with Black-owned businesses, it would generate one million jobs for African Americans!

In a recent FoodTank.com article, Jasmine Ratliff, Co-Executive Director of the National Black Food and Justice Alliance, points to the emergence of black-led food co-ops in Oakland, Dayton, and Brooklyn as a prime demonstration of collective buying power, collective political power, and collective people power. The community members themselves own, manage, support, work at, and govern these cooperatives thus creating their own food sovereignty by defining their own food access and agriculture systems while tackling systemic inequalities.

Admittedly, not all businesses are created equally, and supporting some black-owned establishments is not without its challenges, but hopefully for the reasons presented in this post, it’s worth the effort! Thanks to social media, consumers can minimize risks by perusing the ratings and reviews included on many black search destinations.

Pamela Williams-Phelps

11/03/2023

Understanding Black Spending Power:

Consumer spending is the amount of money individuals and households spend on final goods and services for personal use. Black spending power refers to the total income and disposable income of the African American community. It’s a substantial economic force, and according to Nielsen, it was projected to reach $1.8 trillion by 2023. However, much of the spending involves financing for higher ticket items like homes, cars, and college tuition, or credit card balances carried over 30 days. Unfortunately, record spending is reflected in record levels of household debt!

Read Full Blog
https://blkbusiness.net/black-spending-power-reaches-1-6-trillion-in-2021/

Pamela Williams-Phelps

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Atlanta, GA

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+14049411540

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http://www.BlkBusiness.net/

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