Small businesses are essential for all countries because they can help add a lot of wealth to the county, and they also provide a lot of jobs to people. The large businesses, if left by themselves, will run the market. Smaller businesses can help smaller communities do well as it provides employment to a lot of people in its sector. Black people with such businesses can look out for other black people, and they can help them get jobs, build their credit, get the property for their family, etc.
Even if large companies have black people in an important position, then they can hire more black people and also give the other employees a different perspective on how to target the market so that any product or advertisement hurts no sentiments of any race or religion.
It helps build up communities –
Most of the new black businesses fail soon after they begin in a few month’s time. When black people start businesses, they are much more likely to fail at it when compared to a white person starting a business. The more you support black businesses, the more you encourage new people to get into the business and do something that might be a very new and revolutionary idea.
It would also generate more money for the community itself, and that can help them to grow better. It will also encourage young people to perform better because they know that there are people who are present to support them.
Creates jobs and opportunities –
There are a lot of black people who need jobs and career opportunities. If we manage to give them jobs, we can lessen the gap between people who are rich and poor and improve the condition of living of many black people. Black people do need either loans or investors because right now, they mostly use their own money for investments, and they do not earn enough to pay their employees good salaries and wages.
As we know, whenever you want to start a new business, one of the first things that you need is an investment to get you off the ground. And the reluctance to give black people loans prevents them from starting their own businesses.
Creates jobs and opportunities –
There are a lot of black people who need jobs and career opportunities. If we manage to give them jobs, we can lessen the gap between people who are rich and poor and improve the condition of living of many black people. Black people do need either loans or investors because right now, they mostly use their own money for investments, and they do not earn enough to pay their employees good salaries and wages.
As we know, whenever you want to start a new business, one of the first things that you need is an investment to get you off the ground. And the reluctance to give black people loans prevents them from starting their own businesses.
Strengthens local economies –
Many banks may not give loans to people of color because they discriminate and make assumptions simply because of their skin color. We need to understand that when these smaller businesses do well, their communities benefit from it as well. A lot of black people get jobs when one new small business opens, and this makes the quality of life better for everyone in the family of the person who was employed.
When black people come forward for loans, we should be more accepting towards them and try to provide loans and not disapprove of their loans simply based on race. If the banks provide loans and the business starts doing well, then there is a chance that these companies can get investors to invest in their companies, and more people may end up joining, and the business may grow.
Celebrates black culture and serves their communities –
A lot of the companies started by black people are starting with some resemblance of their culture in it. Everyone can use products that are inspired by this culture, whether it’s food, clothes, hair care, etc. Everyone can get an insight into the culture of black people by using these products that are made in a way that shows off their culture.
Many people who are black are also very motivated to buy such products because they feel a sense of pride for their community, and when they are really good products, then people of all races can benefit from such products. You also should not spend your money on companies that do not want black communities to be prosperous.
It holds other companies accountable –
Other companies are aware that if they do not support black communities and hire people equally, then people will boycott their products and not support them anymore. Many companies have been highlighted for various things like not hiring enough people of color or making offensive products against a certain community, or improper marketing. Many companies have very few black people in positions of power. We need the big companies to understand that we do not support discrimination.
Even if you do not have a lot of money to change to a different company, you can simply send them a good review or an email appreciating what they did for the community. You could also let other people know about their products and encourage other people to purchase their products.
Benefits the entire society –
When a new company comes up and just starts running, they try to offer new products or adopt newer strategies. This is maybe a threat to other companies because they will have to try to improve their companies, but it is good for customers because we have a wider variety of products to choose from and since the black people introduce new products based on their culture the other companies have to try to make some better so that they can maintain their market share.
More competition in the market is usually a good thing for customers because I get more choices and better products at competitive prices.
What can you do as an individual about this problem?
As mentioned above, we can start to buy the product and support those businesses that do not discriminate based on race. We must try to provide opportunities for black people to perform their best and reach the top of the corporate ladder. Buying products from black businesses can also help to get more money into their community and improve the quality and standard of life of the people living in these places.
We must also try to spread awareness among our family members and friends, and we should encourage them to buy products from companies that do not discriminate or those that black people run. Supporting businesses run by black people will help black children, too, because if they have wealth in the family, they can have a better quality of life and better education. If you own a business yourself or know someone who owns a business, doing a partnership with a company run by black people can help to give them more business.
Weather is to source raw materials or use their products in your store etc. If you run a business, it is very important to check the employees working in it. If there is a shortage of people of color, then you can make an effort to employ more black people. Many people may want to show their support to black people by attending protests or watching movies with black leads. But the way that you can actually help them is through getting them jobs and improving their standard of life.
Conclusion
Most of us look at big companies when we need to buy products but sometimes choosing the small black companies can make a huge difference for them. Supporting these businesses will also make the large organization more thoughtful about what they do and how they wish to tackle the race problem. Hashtag black lives matter will not do much unless we actually make great strides towards improving the quality of life for all these people that actually need help from someone.
We must all try to make an effort every single day to try and be better and make this world better for everyone living in it irrespective of their color, caste, gender. Little things like supporting their businesses might be what we need to make the world better and easier for them to live. Try and do your part in it, and soon everyone will follow.
