Recirculating black dollars is a dead idea. The belief that the recirculating of black dollars is impossible is simply not true. There are a number of resources and outlets that promote black spending. It may appear to be only far off wishful thinking of uniting blacks in order to buy black. As the Financial Health Mentor says, “we can’t get everyone on board, but there are enough pockets of people in our community that are dedicated to the resurgence and growth of the black financial empowerment movement.”

Recirculating Black Dollars Is a Dead Idea

Some people believe that recirculating black dollars Is a dead idea. Fabian Scott believes just the opposite. Fabian Scott, the 28-year-old black entrepreneur and creator of www.Trafek.com,  says that “it’s time to bring unity and to circulate our dollar within our communities.”

As shared at financialjuneteenth.com, research suggests that communities’ generational economic empowerment is linked to entrepreneurial success. Therefore, if we are serious about improving our communities, improving our schools, providing jobs (black businesses are the 2nd highest employer of African Americans after the government), we must advance and strengthen black owned businesses. Still believe recirculating black dollars Is a dead idea?

When it comes to creating black economic. there are a number of things they may be hindering us.

  • 1. Lack of green is not one of them.

    • With over a trillion dollars in spending strength the lack of money is not a problem in our community. However, spending our money within our own community is. We are told over and over again that our dollars only stays in our community a few hours, yet it stays in other communities for days.

  • 2.  Too many excuses.

    • It’s too far, they’re unprofessional, the price is too high and they have bad customer service. Sometimes we have to stop looking for a reason to not shop black and look beyond the mistakes.  We sometimes will endure rudeness and disrrespect by others. Then the moment a black business owners has a bad day we want to jump ship and go the other one.

 Recirculating Black Dollars Is a Dead Idea

  • 3.  Their ice is colder.

    • Ice is ice regardless of how the ice is made. There’s an old joke about how Blacks would buy ice from whites instead of Blacks because “the white man’s ice is colder.” Ice is ice and cold is cold. Still, it is a consistent reference to the historical demonstration that Blacks will buy anything put out there by white folks, regardless if it’s the same quality, because it appears more credible or more legitimate if the other man is saying it or selling it.

4. Where to start.

  • Some black consumers have no idea where black businesses are located and how to find them. STL Black Biz and other black directories are located online and offer hundreds of black businesses, products, services and organizations waiting for your business.

  • 5. Lack of Knowledge.

    • When I first became aware of the spending power held by blacks I was shocked. That fact that our spending power is over 1 trillion was mind boggling. Maybe if more blacks realized the amazing power we have with our spending dollars we would choose wiser and begin to build within our own community.

We’ve just listed a few things that may guide and give you a kick start in doing your part in circulating the black dollars in our community.

 

 

 

 

 

 


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