The recent events surrounding the death of George Floyd and the subsequent media attention have thrust issues facing minorities and Black communities into the spotlight. After the high emotions of the protests, it is necessary to follow up with sustained change in the community through continuing to raise awareness and spending conscientiously.
Starting on June 27th 2020 and continuing monthly, the Black Pound Day movement aims to encourage long-term change through economic empowerment.
The many challenges faced by entrepreneurs and business owners are well documented. From the £3.2bn racial pay gap, which means Black people have less opportunity to save to start a business, to women and minorities receiving 80% in investments compared to the average. While government initiatives and business policies have sought to address some of these issues, change is often slow and ineffective. Meanwhile Black and minority owned businesses continue to be the hardest hit by economic crises like COVID-19.
One solution is for us all to tap into the power our Pounds hold. Being a conscious consumer means being aware of the impact of your spending habits, from the big purchases to the little ones. Patronizing Black-owned businesses puts money into those communities and creates a foundation for long-term sustainable growth. In the struggle for financial equality, change comes from putting your money where it matters, back into the communities that need it the most.
There are many quality products and services out there produced by Black-owned businesses that go under the radar, that would benefit hugely from a bit of exposure The Black Pound Day initiative encourages people to spend on local and online Black-owned businesses, as well as sharing your favourites to help raise awareness.
Join the movement on Saturday, 27th June. Business owners can sign-up to our directory, join the #BlackPoundDay movement and get found.
Not sure where to start?
