One Anti-Racist Action You Can Take Today: Support Black-owned Businesses
By Guimel DeCarvalho
Director of People and Culture, Chief Diversity Officer
Black-owned businesses have long been shut out of capital, loans and lines of credit due to discriminatory practices and systemic defunding of Black communities. Attempts by black business owners to generate wealth have been met with resistance and violence. In 1921, a mob of white vigilantes burned 35 city blocks, killed 300 black people and injured 800 in the Greenwood District of Tulsa, an area known as Black Wall St. Over the course of two days Black Wall St., one of the most affluent African-American communities in the United States, was destroyed during the race riot known as the Tulsa Massacre of 1921.
Black-owned businesses continue to face barriers that put them at a financial disadvantage. Most recently, during the COVID-19 crisis that has disproportionately impacted Black communities, black business owners were unable to access federal loans through the Paycheck Protection Program. The small business program was run through private banks, making it more difficult for Black-owned businesses to receive loans as well-resourced businesses jumped to the head of the line. While adjustments have since been to help minority and women-owned businesses secure funding, the aid has not come quick enough as 41 percent of Black-owned businesses have closed since February compared to 17 percent of white-owned businesses.
Black-owned businesses need your support now. What can you do? Shop, eat and advocate for Black-owned businesses in your neighborhood, city and state. Click here for a list of websites and apps including the Official Black Wall Street.
Resources for Black-owned business in the Greater Boston area:
Black Economic Council of Massachusetts
A List of 50+ Black-Owned Restaurants in Boston
Crowd-Sourced Spreadsheet of Over 150 Black-Owned Businesses
List of Black-Owned Companies in the Boston Area
Here’s a Running List of Black-Owned Businesses to Support in Greater Boston
One Response
[…] this year. It’s also the reason many people are questioning why they never learned about Black Wall Street or Black history outside of Black History […]
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