"By the year 2015, African-Americans will be spending $1.1 trillion a year on products and services". Nielsen & NNPA
Coalition of Black Media Owners and Professional Organizations Launch ‘Million Dollar Black Spending Power Campaign’ Reviewed by Momizat on . Group Calls on Black Community to Reclaim Black Economic Power [caption id="attachment_223"] Bob Law[/caption] New York, NY - A coalition of Black media owners, Group Calls on Black Community to Reclaim Black Economic Power [caption id="attachment_223"] Bob Law[/caption] New York, NY - A coalition of Black media owners, Rating:
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Coalition of Black Media Owners and Professional Organizations Launch ‘Million Dollar Black Spending Power Campaign’

Coalition of Black Media Owners and Professional Organizations Launch  ‘Million Dollar Black Spending Power Campaign’

Group Calls on Black Community to Reclaim Black Economic Power

Bob Law

New York, NY – A coalition of Black media owners, professional and political organizations are calling on African American consumers across the nation to begin immediately to redirect a minimum of $20.00 per week in spending to Black-owned businesses. The initiative being called “The Million Dollar Black Spending Power Campaign” is being organized by local groups in a number of key cities. It is projected that even with minimal support this effort may turn one million dollars per week back into predominantly Black communities throughout the country.

The initiative is the brainchild of Bob Law, longtime radio personality, entrepreneur and community activist, who recently sent an open letter to the Congressional Black Caucus, highlighting the assault on Black-owned radio and requesting the CBC to bring the matter to the attention of the FCC and the full Congress.

Karenga Bond According to the African-American Consumers: Still Vital, Still Growing 2012 Report  released by Nielsen and the NNPA, Black consumers have a projected buying power of $1.1 trillion. The Million Dollar Black Spending Power Campaign raises the question “where is the money?”  It is not reaching the Black community argue the organizers. Additionally, scholars who convened an African American Economic Summit at Howard University in early February sketched a very bleak economic future for Black Americans, noting that the wealth gap between Blacks and Whites has grown since “The Great Recession”. For every $1.00 in Black wealth, Whites now have $20.00. Further, Black communities suffer the highest unemployment rates, the lowest median family income, and the highest levels of consumer debt.

“From the corporate community to other ethnic groups, every community seems to benefit from Black spending except the Black community. We fully intend to renegotiate the Black community’s financial relationship with corporate America and others doing business in the African American marketplace. We believe however that a significant starting point is for Black Americans to first take control of our own spending” said Law.

Norm Bond added, “There was a time when African Americans controlled their own economy. If you look at the 1910 Census, there were more African American entrepreneurs than Whites. Today with all of the communication tools at our disposal, the tremendous consumer spending, and the urgent need to create jobs within the Black community, we must raise our collective consciousness and bring that entrepreneurial spirit forward again through massive action.”

SaraLomaxReese_JimClingmanThrough ongoing nationwide activities we will begin to mobilize Black consumer dollars. These include Recycle Black Dollars Shopping Tours, e-commerce utilizing online business directories, websites, social media, Buy Black Meetup Groups, referral networks and educational events including community forums and local community based expos. In addition coalition media partners are going to call on their audiences to support the effort. Philadelphia, the 5th largest city in the nation is also a key market for the coalition members. Local radio station 900AM WURD, the only Black-owned radio station in Pennsylvania, has agreed to support “conscious consumerism” through their programming and additional activities.

The cooperative effort also includes Dr. Maulana Karenga, Creator of Kwanzaa and Professor and Chair Department of Africana Studies California State University, Long Beach; Norm Bond, activist and Chairman of the National Alliance of Market Developers; Professor Jim Clingman of the University of Cincinnati, author and syndicated columnist; and Sara Lomax-Reese, President and General Manager of 900AM WURD in Philadelphia.

About The Author

President

Norm Bond is widely recognized as an international authority on marketing, diversity, sales and multicultural issues. He's passionate about using social media and digital technology as tools for economic development of the global African community. You can visit his site at www.NormBond.com

Number of Entries : 87

Comments (17)

  • shay goree

    I am a small advertising and marketing communications firm here in California. It’s been somewhat of a problem finding these black owned businesses that are current in business information. My purpose is to create convenient, secure and fast transactions between consumers and business owners of all industries. I have affiliate marketing and drop-ship services that will be marketed to communities that we have and patrons of. I need to find all possible small and large black-owned businesses near and far to market to our communities….remember WE are major trend setters and without us prospering the economy will always be at a low. I want to create jobs and business models that we can use amongst ourselves and other neighboring communities. I can start in my community I just need to find more black owned current business owners

  • admin

    @Shay .. agreed. be sure to check out the acpDirectory mentioned in the post. It’s a global directory and a whole lot more.

  • Ferguson

    Hey… If you’re listening. You need a video for this movement. You can advertise that video on youtube’s TruView ad units. You can set it up on a cpv (cost per view) basis. You can also target it to specific audiences. If you have a Twitter and/or Facebook page links to those need to be on the home page of this blog.

    +F

  • admin

    Black Spending Power Campaign discussion on LipStickAlley.com| http://bit.ly/WfH3bA

  • Recycling #BlackDollars

    I’m ready to start. What’s the hold up? Connect with me on Twitter – @BlackDollarsORG or Facebook – http://facebook.com/BlackDollarsUSA

  • E. Joyce

    I am overjoyed that there are people who understand what needs to be done, I am looking for them to take the next step and have a strategic plan to make it happen. We need a strategy that starts with what exists and build on it. For example, we need an African American Angie’s List. It is extremely difficult to choose a plumber, electrician, contractor, etc. when you have a budget for this one-time or emergency expenditure and your best friend claims her cousin Pookie can do it. When he’s not licensed, bonded or has a list of references to call. I’d love to be involved in the strategic planning of such a movement, using it to change the game in Education, the Arts and Culture, the movement to privatized prisons, aka new age slavery and much more.

  • Carol

    I have been affiliated with this Africian Americian
    who has been trying to help over 7 million americians to fulfill their dreams but has been malighned every step of the way,Here is his website please
    pray that the powers that-be,will allow him to continue doing his business http://www.hoboprince.com

  • Troy Johnson

    Black owned Bookstores: http://huria.org/bookstores/

    Black owned websites dedicated to books: http://aalbc.com/otherwebsites.htm

    Mobile Ap to find Black owned businesses: http://www.aroundthewayapp.com/

  • Katrina Nulls

    I am excited about this movement. I just downloaded the around the way app on my phone.

  • Kym

    Please support us. Unlike Groupon and Living Social, we plan to hire kids at each college to help procure deals with merchants and help the small business owners to create additional cash flow by allowing them to run deals on our platform which essentially will give them “free marketing”.

  • JOHN RAYE

    I am 100% in favor of Black entrepreneurship and am of the notion that the best help we will ever obtain is self-hope. If you are a conscious Black man or woman, make it your duty to “Buy Black” as often as you can. Teach your children to do the same. Encourage your friends,organizations and church families to do the same.C’mon folks..we can do this!

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