Are you buying Black?

According to a Massachusetts Institute of Technology (MIT) study titled, “Race and Entrepreneurial Success: Black-, Asian-, and White-owned Businesses in the United States”, a substantial portion of Black owned businesses are overall worse off than white and Asian owned companies. The study notes slavery and Jim Crow laws as underlying factors that can influence the […]

According to a Massachusetts Institute of Technology (MIT) study titled, “Race and Entrepreneurial Success: Black-, Asian-, and White-owned Businesses in the United States”, a substantial portion of Black owned businesses are overall worse off than white and Asian owned companies. The study notes slavery and Jim Crow laws as underlying factors that can influence the different outcomes experienced by Black businesses.Are you buying Black?

“I believe the 60s integration hurt us more than it helped,” said former business owner, Damond Johnson, who is participating in the buying Black movement. “Yes, we wanted equality, but when we integrated, we stopped buying Black because of envy, or wanting to be seen as equals, but in the 50s all our goods and services were owned by Blacks.”

The MIT study also states Black business success is influenced by a loss in capital to expand companies. This can include wage disparities, loan discrimination, and a lack of available investment opportunities.

Morgan State University professor Jared Ball who studies mass media relations said, “Even if (Blacks) changed the way they invest money, it would not make us equal and it would not lead us to a situation where we are powerful and secure and on par with the elite, because the knowledge of certain financial deals is not offered to many minorities.”

Although scholars observed-pre-business disparities, it is still unclear what the post-business differences are. Prior research alleges that lower levels of education, less owned assets, and entrepreneurial household teachings attribute to the number of unsuccessful Black owned businesses.

According to a Massachusetts Institute of Technology (MIT) study titled, “Race and Entrepreneurial Success: Black-, Asian-, and White-owned Businesses in the United States”, a substantial portion of Black owned businesses are overall worse off than white and Asian owned companies. The study notes slavery and Jim Crow laws as […]

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