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How to Leverage Trillion Dollar Black Spending Power

Filed under: Business,Featured | 
Black Spending Power photo

Black people spend most of their money at non-black business

AFRICANGLOBE – A coalition of Black media owners, professional and political organizations are calling on African American consumers across the nation to begin immediately to redirect a minimum of $20.00 per week in spending to Black-owned businesses.

The initiative being called “The Million Dollar Black Spending Power Campaign” is being organized by local groups in a number of key cities. It’s projected that even with minimal support this effort may turn one million dollars per week back into predominantly Black communities throughout the country.

The initiative is the brainchild of Bob Law, longtime radio personality, entrepreneur and community activist, who recently sent an open letter to the Congressional Black Caucus, highlighting the assault on Black-owned radio and requesting the CBC to bring the matter to the attention of the FCC and the full Congress.

According to the African-American Consumers: Still Vital, Still Growing 2012 Report released by Nielsen and the NNPA, Black consumers have a projected buying power of $1.1 trillion. The Million Dollar Black Spending Power Campaign raises the question “where is the money?”

It’s not reaching the Black community argue the organizers. Additionally, scholars who convened an African American Economic Summit at Howard University in early February sketched a very bleak economic future for Black Americans, noting that the wealth gap between Blacks and Whites has grown since “The Great Recession”. For every $1.00 in Black wealth, Whites now have $20.00.

Further, Black communities suffer the highest unemployment rates, the lowest median family income, and the highest levels of consumer debt. “From the corporate community to other ethnic groups, every community seems to benefit from Black spending except the Black community,” says Bob Law.

“We fully intend to renegotiate the Black community’s financial relationship with corporate America and others doing business in the African American marketplace. We believe however that a significant starting point is for Black Americans to first take control of our own spending.”

“There was a time when African Americans controlled their own economy,” adds Norm Bond, activist and Chairman of the National Alliance of Market Developers, who is working with Law in promoting the campaign. “If you look at the 1910 Census, there were more African American entrepreneurs than Whites.

Today with all of the communication tools at our disposal, the tremendous consumer spending, and the urgent need to create jobs within the Black community, we must raise our collective consciousness and bring that entrepreneurial spirit forward again through massive action.”

Through ongoing nationwide activities the campaign will begin to mobilize Black consumer dollars through several strategies. These include: Recycle Black Dollars Shopping Tours; e-commerce utilizing online business directories; websites; social media; Buy Black Meetup Groups; referral networks; and educational events including community forums and local community based expos.

In addition coalition media partners are going to call on their audiences to support the effort. Philadelphia, the 5th largest city in the nation is also a key market for the coalition members. Local radio station 900AM WURD, the only Black-owned radio station in Pennsylvania, has agreed to support “conscious consumerism” through their programming and additional activities.

The cooperative effort also includes Dr. Maulana Karenga, Creator of Kwanzaa and Professor and Chair Department of Africana Studies California State University; Norm Bond; Professor Jim Clingman of the University of Cincinnati, author and syndicated columnist; and Sara Lomax-Reese, President and General Manager of 900AM WURD in Philadelphia.

Additional information can be found on the website at www.BuyBlackAllYearLong.com . For more information please contact: Bob Law via bob.law4@gmail.com and Norm Bond via norm@normbond.com.

 

HOW TO LEVERAGE BLACK WEALTH

 
 

 

 

 

 

 

 

 

 

"I'm just trying to make a way out of no way, for my people" -Modejeska Monteith Simpkins

 

AFRICAN AMERICA IS AT WAR

THERE IS A RACE WAR ON AFRICAN AMERICA

THERE IS A RACE WAR ON AFRICAN AMERICANS

THERE IS A RACE WAR ON BLACK PEOPLE IN AMERICA

AMERICA'S RACISTS HAVE INFILTRATED AMERICAN POLICE FORCES TO WAGE A RACE WAR AGAINST BLACK PEOPLE IN AMERICA

THE BLACK RACE IS AT WAR

FIRST WORLD WAR:  THE APPROXIMATELY 6,000 YEAR WORLD WAR ON AFRICA AND THE BLACK RACE

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Originally Posted by EbonyRose:
Originally Posted by Yemaya:

When we had a chance to do something about this, we poo poo'ed it off. Now well with all that's going on.. we're just about toast.

 

Well ..... I'm hoping that we'll jump out of the fire ... right at about 'golden, biscuit brown' .... instead of after 'burnt to a crisp'!!  

We are too satisfied with the status quo. And we have too much too lose, but wait until we don't have a gotdamn thing, which is coming sooner than we realize, that's when we'll make a change. We are on the cusp. More is a comin'

The spirit of Black people needs a post-slavery/post jim crow overhaul.  We simply have the keys to our own jail cell now.  Why don't we spend money more Black-wards??  The hard reality is that most of us only spend money in Black businesses during a haircut or a hair-do....that's it!!!  We must refocus our efforts to grow ourselves up.  Too many of us are dependent on "others" to hire us for THEIR PROFIT!!!  

 

 

 But!  Hang on yall.  It ain't over til the fat lady sings....even though we do have burnt edges.  I just know we can't give up on our people because of a few of 'em that are azzwipes.  We still gotta think of us as a group of deserving folks and think about our offsprings down the line...since this new generation of blacks are not thinking about no one but themselves-just SELFISH and IMMATURE. But!   Somebody has to be BIGGER than their apparent EGOS.   Cuz it real clear a lot of 'em are NOT wrapped too tight.  So...,is this the fault of our future offsprings?  That would be a HELLLLLLLLLLL no.   

 

I think this is an excellent idea.  So I'm a gonnA hold my breathe, keep my thoughts to myself while looking at the better picture in terms of our culture progress......and SUPPORT as many black businessfolks as I can.  I'm already knowing some of 'em are gonna PISS me the fock off by giving me poor service and with a self-entitled attitude....but!  If slave fighters back in the day felt that way about the severely brain-washed slaves who told massa EVERTHING...we still be slaves.  So I'm gonna have to OVERLOOK a lot of things about my peoples and focus on my eyes on the sparrow.  I'm practicing for a while now picking and choosing my battles...even on this forum so I KNOW I can ignore the obvious problem and concentrate on being effective for my "people."  I can at least do that while I'm living...can't do nothing when I'm gone.     

 

Plus...I know yall know this:  We set the social TREND for everything....so the world is watching at our every move..maybe even in Africa.  So we gotta keep on pushing....we can't stop now.  Look up a little higher....some way some how...but!   

Originally Posted by Kocolicious:

 But!  Hang on yall.  It ain't over til the fat lady sings....even though we do have burnt edges.  I just know we can't give up on our people because of a few of 'em that are azzwipes. 

It is not just a few.

 

Over the years I have talked to a number of Black IT professionals and every one of them has told me that they have had Black business men either rip them off or try to.  One tried to steal some equipment from me and I had to go there with a friend of mine to get it back.  One Black pro even told me he didn't try to do business with Black business men anymore.

 

Personally I think this is a problem with Black men competing with each other.  Black IT people tend to not be men who competed at sports that tough.  So it seems like some Black men want to get back at us.  It is weird to me but that is what happens.

 

I looked through Dr. Claude's book about 8 years ago.  It was a thick book.  I didn't see too much about science and tech education in it.  I have put my 2 cents on the net.

 

http://www.toxicdrums.com/econ...s-by-dal-timgar.html

 

I say NAZInomics is a BIG LIE and the Depression is still beginning.   The Laws of Physics do not care about Us or White folks.

 

And then we have the problem of what to do with these tablet computers.  I thought netbooks would do it but tablets are cheaper and the touch screens are better for real little kids.  I say the educators are in big trouble if parents and children learn how to use them.  The school system is obsolete.

 

http://www.technologyreview.co...en-teach-themselves/

 

Xum

Originally Posted by Yemaya:

What year did he say we'd become a permanent underclass?? 2013.. what's going on this year. Sequestration is in effect this year affecting the governmental sector which hires more Blacks than the private sector... this is just another death knell in all of the things he's talked about in the lecture posted here.

 

The "backdoor" tactic, [something you can't get Black people to understand for nothing in the world], although other groups in America may only have to concern themselves with who or what is trying to get in the front door, WE need tp make sure we know who or what is trying kick our front door down AND who or what is trying invade us from the backdoor as well.

 

African Americans have become waaaaay too complacent, and it leads most of us to live the fantasy world that things are so different now than the used to be, when in reality, things are not all that different than they used to be, just the way in which those that want to break us as a people go about it has changed and the tactics that are being used to achieve that goal.  

 

 

 

One of the main problems that I see with African American economic independence is the fact that so many Black minds that think alike are so far away from each other, or often do not even know the other exists.  Case-in-point, all of the members on this site, I think we are all from different states.  If we all lived in the same state or the same city, maybe we could have implemented something by now.  Another thing is, that there are so many out there telling us what needs to happen, without a plan to go about making it happen.  The Million Dollar Black Spending Power Campaign” is a good start.  


ER is right in that Black entrepreneurship within the community is greatly needed because many of us live in cities where there really are not too many Black businesses to begin with, but, we shouldn't throw in the towel just yet.  We also need those with knowledge of how to get all of the free money that the Federal Government doles out, to make this information privy to African American entrepreneurs, and those that want to establish non-profit organizations that are beneficial to the community, as well as those interested in the education and well-being of our children.  Just like Koco, I'm not ready to accept that African Americans are now or will be a permanent underclass anytime soon.  We just need find some way for enough like minds to connect in the first place, [with blueprints in hand].  


[My big idea about how to start the ball rolling, as I've said for years now, is first for a Map of African America to be created, and then start from there.]

We need something like Amazon.com for Africans. Put all the stuff we like in one place, so we'll know where to buy. There aren't a lot of African businesses where I am.  I'm like a fly in buttermilk here; in a Yankee State.  Couple of cities where there are many Africans; I'm 50 miles from the nearest one and don't travel much.  Where are the websites, and I'll purchase.  I think all 43 million of us should open an African in America bank account, to which we all contribute so that the "race" can become affluent and stop getting trounced upon by Skeletor.  We need to bind together; so that we can stand tall and our brothers can be brothers with pride and money, from us, by us, for us.

Brotha Xum wrote: 

 

It is not just a few.

 

  I know I was just being "nice."

 

Over the years I have talked to a number of Black IT professionals and every one of them has told me that they have had Black business men either rip them off or try to.  One tried to steal some equipment from me and I had to go there with a friend of mine to get it back.  One Black pro even told me he didn't try to do business with Black business men anymore.

 

I don't blame him.  And I totally understand....but!  For me, [well I should talk cuz I really don't get along with anyone except my fella but] I think about the journey of our people....and the many who died and the ones yet to be born...and I can't help but feel some form of responsibility to continue our plight.....despite those who seep with self-hate.   

 

Personally I think this is a problem with Black men competing with each other.

 

I agree.  I see it much too often.

 

Black IT people tend to not be men who competed at sports that tough.  So it seems like some Black men want to get back at us.  It is weird to me but that is what happens.

 

 Yep.  I agree.  And I don't know why or understand the purpose of making it hard to collaborate like other cultures do.  It's like self-sabbotaging our future. 

 

 I say educators are in big trouble if parents and children learn how to use them.  The school system is obsolete.

 

I say you're absoutely correct my brotha.   If the school system as we know it doesn't catch up with what is going currently with this computer "age".....well you already know the story....but! 

 

 

Xum

 
 

WOW!!  What an interesting conversation!!

 

You know .... about a month or so ago ... when I was chatting with MBM about allowing new members to join the site ... I told him that I (somehow) envisioned doing something BIG with the Board one day!!    Of course, I had no idea at the time WHAT  that "big" thing might be.   Still don't!!  But I told him that maybe one day we'd be able to get together and harness all the incredible talent and intellect we've always had through our core members.

 

Seems to me everybody here seems to know or do something special and individual that can be connected in complimentary ways!!!  Plus, perhaps, with the addition of a few new 'others' that we might be able to attract (through some select-but-well-placed invitations to join the group ... and I KNOW I keep saying that ... but it's important to avoid the riff-raff, if ya know what I mean!!   ) ... but that if we put our minds to it ... I figured we could probably "launch" some sort of project or something meaningful if we REALLY tried!!!

 

He told me he'd be happy to let us use AA.org as a "springboard" for something like that!!!  And to let him know what he could do to help!! 

 

Sooooo ... if we were  looking to do/make/create/launch/build/voice/advocate something together as a group ... we at least already have an established name and Web presence from which to do it! 

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