A website aimed at funneling more dollars to the nation’s Black-owned businesses has recently opened its virtual doors and hopes that making Black spending options a mere click away will encourage consumers to keep it in the community.
The Black Owned Business Directory’s new website, www.BlackOwnedBiz.com, provides consumers with listings of Black-owned enterprises from around the country and also offers support for business owners such as business tips, continuing education and general information about the Black community.
Although a recent study showed that African-Americans’ buying power reached $946.6 billion in 2010 and is projected to climb to $1.3 trillion in 2017, the average Black-owned business grosses only about $72,000 per year, according to the U.S. Census. The national average for other minority businesses is $179,000 per year and a whopping $490,000 per year for non-minority businesses.
In addition to the other features, businesses will be able to add photos of their products or work samples, information about their business, coupons for current promotions and events, and receive direct contact from potential leads. The website also plans to be a hub for the latest news on positive Black events, including information about minority scholarships.
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