Invest in your friend’s, invest in your family, invest in your community!
I saw some stats the other day on Twitter, not sure of the original source but either way they really fascinated me:
- Black spending power on the UK is £300 billion
- The black community makes up 3% of the UK population
- Black businesses generate £10 billion for the UK economy
- 95% of this spending is done outside of the community
- 2% of spending is done with black businesses
It’s those last 2 bullet points that really hit me. All this money that black people have and we’re not even spending half of this within our own community… This is exactly why I say we need to do better because only TWO PERCENT!? Of course, there could be reasons for this, maybe black businesses aren’t getting enough exposure, or the competition outside of the black community is of higher quality. But for black people to thrive in this economy we need to support them starting up and INVEST in them.
Put yourself in the position of someone just starting up a business and ask what you would want. You’d want your friends & family to support you. As that friend or family member, supporting can be so easy. All you need to do is share your friend’s business, even buy and review their product if it is relevant to you. This all goes a long way to the long journey of a business owner. But we also need to flip the script for a second for those people who are already in a strong position, as a successful business owner. OPEN DOORS FOR OTHERS. One thing that I dislike are those who are already at the top of their profession/business area and don’t want to help others get in their position, don’t be
selfish there’s enough room for all of us at the top. Us black people need to stick together and support each other in any way possible.
I want to see more black businesses thriving on a worldwide scale. To be honest recently we seem to be doing a good job. Especially with things like Black Pound Day, stimulating movement in the black economy by buying things black owned and an increase in online black directories, showing where you can buy things black owned, my personal favourite being UKJamii! These are things I really love to see, and I hope continues for the course of my lifetime.
Lastly, investing in black also means investing in yourself this is probably the most important thing to invest in. Invest in your mental and physical health and invest your money wisely! Prioritising and supporting yourself is a major key to inner peace! Self-care blog on the way 😉
The RTB Team