Tag archives: black owned

It’s True! More African Americans Are Investing in the Stock Market

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A recent national study by Chicago-based Ariel Investments shows that more black Americans are investing in the stock market. For years, blacks stayed away from stock investments, but that trend is beginning to change.

67% of Blacks are investing

According to the study, stock market investing has grown among the black population over the years. In 1998, 57 percent of blacks were investing in stocks or stock mutual funds. By 2010, that number had grown to 60 percent, and today 67 percent of blacks invest in stocks or stock mutual funds. One reason suggested is that more employers are offering 401K programs for their employees. Since employers match 401K deposits up to various amounts, black employees consider this a very important reason to invest and grow wealth.

Investment attitudes different based on race

Investment attitudes and behaviors differ between blacks and whites. Blacks and Hispanics invest less money, and their investments are in safer yet low-returning assets, making their wealth levels about 90 percent lower than the wealth levels of median whites, even when their level of income is only 40 percent lower. This has an effect on the growth of overall wealth.

But wait, there’s more!

In addition, while blacks always considered their homes to be their “best overall investment,” that, too, is changing, falling from 61 percent in 2004 to its current level of 37 percent. How they view stock investing, however, is changing in the opposite direction. In 2004, only 28 percent of blacks felt that stocks were their best overall investment. But in the recent survey, that number increased to 41 percent.

What all of this may point to is closing the gap in wealth inequality between black and white Americans as the upward trend for more black investors in the stock market continues.

Would you like to join an investment group? Click here.
For more details about the study, visit www.arielinvestments.com/content/view/3006/1850/

 

Posted on December 6, 2017 By Staff With 1 comment

Black Owned Crowdfunding Site Reaches $100k in Funding – Ain’t No Stopping Us Now

Black multi-generation family outside, the power of the crowd. Black Owned Crowdfunding Site Reaches 100k in Funding – Ain’t No Stopping Us Now

Nationwide, May 1, 2017 – To be successful, it is vital to have the courage to go for it. At a time where it was unpopular to birth and run a black owned crowdfunding site, Lynn Da, a young budding entrepreneur out of Cincinnati has taken the bull by the horn to make the impossible possible.

Founded in the year 2012, with the aim of helping members of the black community get funding for their businesses, Suffice it to say that in April, BBNomics has been able to raise over $100,000 in funding.

Speaking excitedly, Lynn, the organization’s founder said; “I am thrilled about this latest development. This particular feat will go a long way in strengthening our hearts and increase our faith for a better tomorrow for the black community, as we all work together to make it happen. Even though the journey is long and tough, this has made us believe that it is achievable.”

In recent times, BBNomics has funded some notable projects such as; Kimchi Socks (a young socks company), Bringing More Healing to the hood (a mental health clinic in Chicago) and much more. “My personal goal is for BBNomics to raise one million in funding to help entrepreneurs and organizations open their doors to the public, and I know we are almost there” Lynn added.

It is noteworthy to mention that ‘Basil Health Fund’ and ‘Buy The Block’ are some of the campaigns that BBNomics is currently spearheading. While the former focuses on raising funds for Basil Elby, the alleged mastermind of the I-85 Atlanta bridge collapse, the latter presents a platform that will allow groups and individuals to pool resources, share knowledge, vote on the property to invest and efficiently manage investments.

According to their website, anyone can start a campaign and get funding for businesses, organizations, social causes and more. For more details about BBNomics, visit – www.bbnomics.com or follow them on Facebook at https://www.facebook.com/bbeconomics/
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Posted on May 1, 2017 By Staff With 1 comment

Top Five Black Farmers, Black Farming is back on the rise!

After a Century in Decline, Black Farmers Are Back and on the Rise

These Black farmers don’t stop at healthy food. They’re healing trauma, instilling collective values, and changing the way their communities think about the land.
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Blain Snipstal, second from left, with members of the Black Dirt Farm Collective. Photo courtesy Blain Snipstal.

Blain Snipstal and Aleya Fraser
Farm:Black Dirt Farm Collective
Location: Preston, Maryland
Number of Years Farming: 7
Revered Elder: Harriet Tubman

About 80 miles southeast of Baltimore, Black Dirt leases 2 acres that long have been home to the Black freedom struggle. Harriet Tubman once rescued her parents and nine other people from enslavement in this place, which was one of the first stops on the Underground Railroad.

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Vegan farmers JoVonna Johnson-Cooke and Eugene Cooke raise corn and other native crops at their Stone Mountain farm. Photo by Nicole Bluh.

Eugene Cooke and JoVanna Johnson-Cooke
Farm: Grow Where You Are Collective
Location: Atlanta and Stone Mountain, Georgia
Number of Years Farming: 14
Revered Elder: Wangari Maathai

Collaboration is also key for the nine members of the Grow Where You Are collective, who operate a 3-acre farm and food forest in Atlanta, as well as a 5-acre farm in the nearby rural community of Stone Mountain.

Yonnette Fleming holds a Rhode Island Red hen at the Hattie Carthan Community Garden. Photo by Quincy Ledbetter.

Yonnette Fleming holds a Rhode Island Red hen at the Hattie Carthan Community Garden. Photo by Quincy Ledbetter.

Yonnette Fleming
Farm: Hattie Carthan Herban Farm
Location: Brooklyn, New York
Number of Years Farming: 16
Revered Elder: Hattie Carthan

Yonette Fleming’s passion for agriculture comes through in the poetic urgency of her words. So it’s surprising to learn she once tried to escape it. She was raised in Guyana, where her family cooperated with indigenous communities to grow coconuts, sugar, rice, and other crops. She took a detour into corporate America before finding her way back to the land.

Lindsey Lunsford gathers peppers at TULIP’s community garden. Photo by Wil Sands.

Lindsey Lunsford gathers peppers at TULIP’s community garden. Photo by Wil Sands.

Lindsey Lunsford
Farm: Tuskegee United Leadership and Innovation Program (TULIP)
Location: Tuskegee, Alabama
Number of Years Farming: 2
Revered Elder: Booker T. Washington

The educator and activist Booker T. Washington once sent a letter to every resident of Tuskegee’s Greenwood neighborhood, encouraging them to grow home gardens in order to build self-sufficiency. Through her work with TULIP, Lindsey Lunsford is continuing his legacy.

Chris Bolden-Newsome shows off a basket of marshmallow root he grew at Bantram’s Garden. Photo by Owen Taylor.

Chris Bolden-Newsome shows off a basket of marshmallow root he grew at Bantram’s Garden. Photo by Owen Taylor.

Chris Bolden-Newsome
Farm: Community Farm and Food Resource Center at Bantram’s Garden (a project of the University of Pennsylvania’s Agatston Urban Nutrition Initiative)
Location: Philadelphia, Pennsylvania
Number of Years Farming: 12
Revered Elders: Rufus and Demalda Newsome (his parents)

Before the “food justice” movement existed in the United States, Black farmers in the Mississippi Delta were cooperating to feed the community. Raised by farmers in that movement, Chris Bolden-Newsome assumed that growing food was something everybody did and was shocked to find otherwise when he moved north. He now manages a 50-bed community garden in his current home of Philadelphia, where he reconnects Black people to their agricultural heritage.

Source: Leah Penniman wrote this article for YES! Magazine. Leah is a farmer and educator based in the Albany, New York, area.

 

 

Posted on May 6, 2016 By Staff With 5 comments

3 Super Easy Ways To Support Black-Owned Businesses

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Small businesses represent a very important aspect of our entire economy. The same is true about businesses owned by African Americans and other minorities. There are many people in America who really do want to support black businesses, but they may have no idea how to go about it.

Here are three great ways in which we can all lend support to black-owned businesses.

#1 – Look for them: it may take some homework to identify black-owned businesses because they are not as abundant in communities. Maybe you have to drive a little further, but know that by doing this, you are supporting a black-owned business.

#2 – Try something new: this is a great opportunity for consumers to mix it up and try different products and services they may end up liking even more than those they were used to purchasing from mainstream businesses. Nix the stereotyping and respect black products.

#3 – Recommend them to others: whether it’s word of mouth, social media, recommendations to friends, or actually taking the initiative to reach out to a black-owned business, do it. Whenever you have the opportunity, promote a black-owned business.

It’s not enough just to avoid discrimination

Not discriminating is, without saying, absolutely necessary. But taking positive action to reach out and include black-owned businesses in your B2C or B2B plans is an action that will make a difference. You will be not only supporting black-owned businesses but also showing them that black economy matter as well.

 2 Million Jobs Movement!

2MILBLKMENS

Posted on March 27, 2016 By Staff With 6 comments

What is Happening to All the Black-Owned Book Stores? Only About 50 Are Left

Desmond Reid, owner of Dare Books, a once-popular book store in Brooklyn, New York that closed back in 2009 after more than 22 years.

Desmond Reid, owner of Dare Books, a once-popular book store in Brooklyn, New York that closed back in 2009 after more than 22 years.

What is happening to black-owned bookstores? By 2012, 66 percent of black-owned bookstores in America disappeared. Since that time, half of the remaining bookstores have also gone away. Is it something black bookstore owners are doing wrong? Not necessarily, according to The National Endowment for the Arts.

What is happening to black stores everywhere

The fact that black-owned bookstores are closing everywhere is not necessarily a negative reflection on the owners. One of the biggest problems in America right now is that people are not reading as much anymore. The National Endowment for the Arts stated as far back as 2004 that “…literary reading in America is not only declining among all groups, but the rate of decline has accelerated, especially among the young.” If reading is on the decline, bookstores are no longer a viable business.

Other factors

There are, of course, other causes for the close of black bookstores, such as a weak economy, rise in rent costs for bookstore owners, and bad business management. But the largest, most contributing factor appears to be also the most disturbing factor, and that is the lack of interest in reading books. Even web sites that feature books by African Americans and about the African American culture are suffering.

With other sources of information available now through technology, black and white bookstore owners are facing a tough business environment. Some have suggested that, instead of just books, bookstore owners need to be creative to get people in the door by selling other products they would be interested in. Others have speculated that black bookstores have added to their demise by focusing just on the black community and need to expand their products to include books of interest to a wider community.

Friday, March 25, 2016 at 6:00 PM we will take the #2MillionJobs campaign on the road to support a local black owned bookstore. #EachAndEveryFriday #SupportBlackBusiness Help us save black owned book stores!

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Smith & Hannon Bookstore Address: 1531 California Ave, Cincinnati, OH 45237

What do you think?

Read more at www.aalbc.com/blog/index.php/2014/03/31/54-black-owned-bookstores-remain-america/

 

Posted on March 21, 2016 By Staff With 2 comments

In 20 Years, Black-Owned Women Businesses Have Skyrocketed More Than 300%

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It’s official; the growth in the number of businesses owned by black women is off the charts! The growth has reached 322 percent since 1997. In fact, businesses owned by African-American women represent the fastest growing group of entrepreneurs in America, according to a new study.

African-American women the fastest-growing entrepreneurs

The latest report, the 2015 State of Women-Owned Businesses Report, showed that black, women-owned businesses grew 1.5 times more than the national average for business growth between 1997 and 2015. Their skyrocketing success has resulted in:

  • Generating $52.6 billion in revenue
  • Employment for 300,000 people


Black women own almost half of all black-owned businesses

Black women own about 14 percent of all businesses in the U.S., or approximately 1.3 million businesses. They are also the owners of 49 percent of all the black-owned businesses in the nation. And as their businesses grow, so does their clout. In states such as Georgia (35 percent), Maryland (33 percent), and Illinois (22 percent), these entrepreneurs represent greater percentages of women-owned firms than the national average, which is 14 percent.

Given the steady growth of black-owned women businesses, it’s likely that we will continue to see these numbers grow, along with increased economic power and influence for these amazing entrepreneurs.

 

AFRICAN PRINTS & DESIGNS FOR YOUR HOME AS WELL AS EVERY DAY LIFE.

Sponsor: AFRICAN PRINTS & DESIGNS FOR YOUR HOME AS WELL AS EVERY DAY LIFE.

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Posted on March 8, 2016 By Staff With 1 comment

8 Black-Owned Cosmetic/ Make-Up Brands You Should Know About

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In America, the cosmetics industry alone rakes in about $55 billion per year, according to Statistica, an online research and data source. Forbes also reports that globally, the beauty business is at $382 billion. Most people immediately think of Estee Lauder, Revlon, and MAC, but here are 8 black-owned brands of cosmetic/ makeup products you should know about:

#1 – IMAN Cosmetics: this popular brand is owned by supermodel Iman who started her beauty products company in 1994. Designed for African American, Asian, Latina and multi-cultural women, the company markets its products in the U.S., Canada, Europe, Africa and the Caribbean. They can be purchased at Target, Walmart, Walgreens and other national retailers.

#2 – Fashion Fair: owned by Eunice W. Johnson, who created the Ebony Fashion Fair, and her husband John H. Johnson, who is the publisher of Ebony and JET magazines. The company began in 1973 and was one of the first to make cosmetics for women of color. It is considered the largest black-owned cosmetics companies in the world and sells it products at fine department stores across the U.S., Canada, and internationally.

#3 – Black Opal Beauty: specializes in foundation sticks for women of color. The company was founded in 1994 and makes products for skin care, hair care, makeup, and other beauty products for women, and men, of color. Products can be purchased online or at national retail chains such as Walmart, CVS, and Rite Aid.

#4 – Shea Moisture: has been selling natural beauty products since 1912. The company was founded by Sofi Tucker in Sierra Leone and was founded on natural ingredients like Shea butter. They make products for the face, hair, body, and bath for both women and men.

#5 – KA’OIR Cosmetics: owned by CEO Keyshia Ka’oir and features fun color lipsticks, eye shadows, nail products, and blush. Products are affordable and are shipped all across the world. Lipsticks are gluten free.

#6 – Ginger + Liz: started in 2010, this company makes nail products that are vegan friendly and toxin-free. The company was created by friends Ginger Johnson and Liz Pickett. Their products feature vibrant colors and ingredients that are free of harsh chemicals and carcinogens like toluene, formaldehyde, formaldehyde resin, camphor, and DBP.

#7 – Black Up Cosmetics: is the first luxury makeup brand created by professional make up artists for ethnic skin tones and women of color. Their products can be purchased online.

#8 – Vera Moore Cosmetics: owned by former soap opera actress turned entrepreneur, Vera Moore. Her products have been used on various TV shows including the Cosby Show and the Wendy Williams Show, and used by various celebrities and news anchor women.

 

AFRICAN PRINTS & DESIGNS FOR YOUR HOME AS WELL AS EVERY DAY LIFE.

Sponsor: AFRICAN PRINTS & DESIGNS FOR YOUR HOME AS WELL AS EVERY DAY LIFE.

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Posted on March 8, 2016 By Staff With 4 comments

Top 10 Amazing Black-Owned Bed and Breakfasts

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There are more than 30,000 Bed and Breakfasts (B&B’s) in the country, but sadly only about 1% are Black-owned. If you don’t already know, Bed and Breakfasts are similar to hotels, but are smaller private residences with bedrooms that are available for rent to the public on a night-by-night basis. A free home-cooked breakfast is usually included with each overnight accommodation.
If you are looking to support local Black-owned businesses and/or you want to experience the best of African American culture and hospitality during your next getaway, here are our top 10 picks:

#1 – Arbor View House (Greenport, NY): Near the wineries in upstate New York, this B&B wineries is known for their award winning gourmet breakfasts, boutique hotel accommodations, fireplaces, heavenly beds, and great concierge service.

#2 – Quintessentials (East Marion, NY): Just two hours from New York City, this B&B features a European lifestyle spa for a completely rejuvenating experience for the body, mind and spirit.

#3 – Inn of Treasured Memories (Cape Cod, MA): Designed for comfort and unwinding, this B&B offers guests many unique options. They can relax in the quiet atmosphere of the Living Room to read, think, and talk. They can gather and mingle in Hank’s room to play cards or board games, or they can stay fit and have fun in the heated water resistance pool.

#4 – TheLRoomBNB (Durham, NC): This newly renovated 1920‘s home with three bedrooms is located in Old North Durham, a flourishing area within walking distance to trendy restaurants, popular nightclubs, parks, unique shops, Duke and North Carolina Central Universities

#5 – Morehead Manor (Durham, NC): Originally built for the CEO of Liggett and Meyers, this splendidly redecorated, 8,000 square-foot, Colonial Revival Style home is located within walking distance to the Downtown area, the Durham Bulls Athletic Park, the Durham Performing Arts Center (DPAC) and historic Brightleaf Square.

#6 – Akwaaba Inns (Various Locations): This upscale lodging collection is owned by husband and wife team Glenn Pogue and Monique Greenwood. The couple fell in love with inns when they stayed at their first bed and breakfast back in the early ’90s. THey now have locations in Washington, DC, Brooklyn, NY, Cape May, NJ, and more.

#7 – Hubbard Mansion (New Orleans, LA): Located on the historic St. Charles Street, this B&B offers five exquisitely furnished suites in the Main House, and two executive apartments perfect for long-term stays. The beautiful rooms recall the grandeur of 19th century New Orleans.

#8 – Welcome Inn Manor (Chicago, IL): This B&B is just minutes away from many other historic and significant places and landmarks throughout Chicago. Their services include a free full hot breakfast, and morning drop-offs to anywhere in the city.

#9 – Ye Old Manor House (Elkhorn, WI): This B&B is the perfect place for a night’s santuary, a multi-day, weekend, week, or longer retreat, an idyllic location for intimate weddings, and a great venue for meetings, retreats, and other gatherings.

#10 – Magnolia House Inn (Hampton, VA): Located in the waterfront downtown area, this historic Queen Anne Victorian offers 3 spacious guestrooms with the most sought after lodging experience for business and leisure travelers.

BONUS The Dupont Collection (Washington, DC): Their apartment style suites offer much needed privacy especially when travelling with children and sharing the same space. They serve a complimentary hot breakfast every morning with fresh fruit, and freshly baked bread.

OUR FAVORITE Six Acres Bed & Breakfast (Cincinnati, OH):  With ties to the Underground Railroad, this B&B offers landscaped gardens & cozy rooms. This 19th-century B&B with connections to the Underground Railroad is set within Laboiteaux Woods off Highway 127, 7.9 miles from the Great American Ball Park in downtown Cincinnati.  Homey, individually decorated guestrooms feature Amish-style quilts, and some include private bathrooms. A suite is also available with 2 bedrooms, a living room and a kitchen. The grounds feature landscaped gardens, and the B&B offers occasional educational programming.

If you are looking for hotels, you can visit NABHOOD, click here:

 

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Posted on March 1, 2016 By Staff With 4 comments

Top 6 Black-Owned Wine Companies (and Wineries)

african_american_wine_companies_wineries

There are thousands of wineries in America, but only about .001 percent, or less than a couple dozen, are owned by African-Americans. The global wine industry generates more than $290 billion in sales every year. Whether you are a wine lover, a connoisseur, or you’re just looking to get your buzz on, you will love these six Black-owned wine brands:

#1 – Esterlina Vineyards – this California winery is owned by the Sterling family who have been making wine for generations. For thirty years they have been growing grapes, making wine and bottling it by hand.

#2 – Bee D’ Vine – Bee d’Vine is a product made by The Honey Wine Company, based in San Francisco, California. Founder Ayele Solomon, an environmentalist, got the inspiration for his honey wine as a way to make trees more valuable. Flowering trees provide nectar and pollen for bees. His honey wine supports bee farming in California and in Ethiopia’s Kafa rainforest.

#3 – Mouton Noir – this Oregon-based wine company is owned by André Hueston Mack who left his job at Citicorp Investment Services to pursue his dream of becoming a winemaker. He works with world-renowned restaurants to create his wines and has been featured in major publications, such as Food and Wine, Wine & Spirits Magazine, and The New York Times.

#4 – Heritage Link Brands – based in Los Angeles, California, this company has its roots in South Africa and is now the largest marketer of black-produced wine from Africa in the U.S. Their award‐winning wines are available online, and in stores and restaurants across the nation.

#5 – Running Tigers Wine – based in Sacramento, California, the company was named after the owner’s favorite wild animal. The company was started by Daniel Bryant in 2004. What began as a hobby has turned into a successful business. Bryant’s wines appear on menus of restaurants across Northern California.

#6 – Rival Wine – this Napa Valley winery was started by entrepreneur Daniel Darden and his brother James in Napa, California. They introduced their first vintage in 2007.

 

Source: http://blog.blackbusiness.org/2015/08/top-black-owned-wine-companies-wineries.html#.Vsp9cn0rK2w

Posted on February 23, 2016 By Staff With 6 comments

6 BLACK OWNED NAIL POLISH BRANDS YOU SHOULD KNOW ABOUT

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Women spend nearly $1 billion dollars every year on nail polish, and one survey revealed that 33% of women own at least 25 bottles of nail polish. The industry consists of many trends including sand polish, matte finishes, at-home gel, polishes that look like gels, and even gel stickers.

African American women reportedly are the biggest spenders in this industry, and so it’s no surprise that several nail polish companies are… well, Black-owned.

Here’s at least 5 of the popular Black-owned nail polish brands:

#1 – Adore Her Nails: Former model turned nail lacquer enthusiast, Devorne Love, created this eye-catching and affordable line that also has a fun and flirty appeal.

#2 – Polish and Company: From cosmologist and nail expert, Theresa Williamson, this brand was created for the beauty bombshell with the aesthetics of a Southern belle.

#3 – Underground Nail Queenz (UGNQ): Created by former army brat, Jacklyn Berry, this new, chic & revolutionary nail polish brand promises to add a shimmering iridescent shade with a special touch.

#4 – Ginger + Liz: Created by Ginger Johnson and Liz Pickett, this line is heavily influenced by arts, travel, entertainment and especially the Classic Chic, Modern Luxe, Bohemian Hipster, and Rock Glam fashion driven lifestyles.

#5 – Bernadette Thompson Nail Care and Color: Created by Bernadette Thompson, a trend-setting nail artist, this line gives a seasonal presentation of slick, sophisticated, fun colors that literally put the latest fashion trends on women’s finger tips.

#6 – Lisi Cosmetics: Lisa Hill, a make-up and nail artist, created this brand that boasts a nail lacquer line with a vast selection of glitter-crazy, and delectable glimmering colors.

According to Blog.BlackBusiness.org
6 BLACK-OWNED NAIL POLISH BRANDS YOU SHOULD KNOW ABOUT
According to Blog.BlackBusiness.org

Posted on September 27, 2015 By Staff