The “Buy Black” Financial Toolkit

A 2024 USA Today article reported that Black Americans “make up about 12.4% of the country's population, but Black business owners represented only 2.4% of all employer-firm owners.” Sign up below to receive the "Buy Black" Financial Toolkit, your year-long, step-by-step guide to buying Black and working towards equity for your Black Neighbors. 

The concept of “Buying Black” to circulate money to and through Black-owned businesses isn’t new. Yet today, amid anti-DEI efforts, the importance of Buying Black feels especially critical. A 2024 USA Today article reported that Black Americans “make up about 12.4% of the country's population, but Black business owners represented only 2.4% of all employer-firm owners.”

U.S. Census data revealed that in 2020, Black-owned firms made up 3.6 million of nonemployer firms, with receipts of $85.8 billion. (It’s important to note that nonemployer firms are those that solely employ the business founder.) Data for the following year, 2021, showed that the approximate number of Black-owned employer firms that employ at least one other person besides the business founder is only 161,031, with annual receipts of $183.3 billion. These stats suggest that the majority of Black-owned businesses are run by individuals who need additional capital to increase profitability and scale.

This “Buy Black” Financial Toolkit is designed to help you, your family, and your business/organization increase the sustainability and growth of Black businesses. Each month provides a theme and specific ways to take action. Yes, Buying Black will require intentionality, concerted effort, and—at times—paying more. But, together, we can foster economic justice and strengthen Black businesses, Black families, and our entire society for generations to come.

Chanté Griffin

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