5 Ways To Keep The Black Dollar Circulating Within Our Communities

August has been coined National Black Business month and what better way to celebrate than to support than we purchase from companies that are made by us, with products and services that are for us? That’s right, this month (and year-round) she be all about supporting those black owned businesses whether they’re near OR far.

The Greenwood Neighborhood was once of the most successful, affluent African-American communities in the United States and was even coined the “Black Wall Street”. It was a place where not only we lived, but we also thrived and sadly that was ruined by the Tulsa race riot of 1921 when angry mobs of whites attacked the black residents and businesses. This incident has been proclaimed one of the worst of racial violence in America.

It was this very community where the term “Black Wall Street” derived and unfortunately though we’ve come quite far when it comes to ownership and representation, we still have a way to go to get back to creating and upholding successful black communities here in America and what better way to get started than to begin to recycle the Black dollar and keep in within our very own neighborhoods?

Here are 5 ways that we can keep the Black dollar within our community and create and cultivate spaces where not only do we live, but thrive while doing so:

  • We must educate our children about the value of a dollar and why it is so vital to give back.
  • Track the way in which we spend our money. Budgeting is KEY and monitoring those spending habits will help us to go from the buyers to the ones who are making the products!
  • Investing is huge but it must be within our own neighborhoods. Find a business or organization within your community and create more opportunities for yourselves, your loved ones, or simply people that look like you. Make sure that organization speaks to your heart and is for the betterment of our people and not to tear us down!
  • Everything starts at home so encourage those businesses that you support to hire from within. It’s just a great feeling to walk into a place owned by us with people that reflect the people who live within the neighborhood in which the business is located.
  • Let’s start more businesses! The resources are out there so dig deep down and find out what sparks your interest and how the community can benefit from it and get to work!

We have the power to truly take back our communities, up build them and leave legacies for the future generations to come! Black people can create vital, vibrant, self-contained economies… it’s just up to us to take back our power and keep that Black dollar back within our communities to get it done!

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