Giving Compass' Take:

• YES! Magazine highlights 7 ways to find and support Black businesses so we can all continue to fight systemic racism.  

• How can investors help share and redistribute wealth so Black businesses can thrive? What can donors do to contribute to power-building in Black communities? 

• Read more about the impact of community power-building movements. 

Finally, we have the world’s attention, which is important for #BlackLivesMatter and Black-owned businesses. And the big question is “How do I find Black-owned businesses?”

Yes, Blackout Day 2020, powered by OneUnited Bank, was a huge success. According to Yelp’s Economic Average Report, during the 2nd quarter 2020, there were more than 2.5 million searches for Black-owned businesses on Yelp, compared to only 35,000 in 2019, an increase of more than 7,000%. Searches for Black-owned restaurants increased more than 2,500% and Black-owned bookstores over 1,400%. Because of the surge, Yelp announced it will offer a new tool for businesses to identify themselves as Black-owned.

So how do you find Black-owned businesses? Here are 7 ways to find Black-owned businesses that are owned and managed by Black organizations:

  1. Check out We Buy Black, the largest online marketplace for Black-owned businesses that supports the #BuyBlack Movement.
  2. Download the Official Black Wall Street app and find thousands of Black-owned businesses at your fingertips.
  3. When the #BankBlack Movement was sparked in 2016, Blackout Coalition was launched to provide information on Black banks and credit unions.
  4. One of the biggest purchases and ways to accumulate wealth is to buy a home. Why not use a Black real estate agent?
  5. Although COVID has limited travel, if you need to travel, find a Black-owned hotel through the National Association of Black Hotel Owners, Operators and Developers or NABHOOD.
  6. Many cities have a Black Chamber of Commerce with Black-owned businesses as members.
  7. Last, but most importantly, there’s the “granddaddy” of Black-owned businesses, Black Enterprise.

Read the full article about finding and supporting black-owned businesses by OneUnited Bank at YES! Magazine.