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The Problem

The health and well-being of a community lies in its economic foundation.  The life blood of any community rests in the quantity and quality of its businesses.  The black community lags every other culture in key indicators of community health.

There is a direct correlation between a strong supported business foundation and a strong healthy community.  It is estimated that blacks spend only 2 percent ($28 billion) of their total available income of $1.4 trillion with black businesses.

If we were to increase our spending with black businesses by only 10 percent ($140 billion) that would create one million jobs, paying a living wage, for the black community.

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Demographics

Blacks

Whites

Asians

Hispanics

Population

42 million

Business Revenue

$188 billion

Personal Income

$41,000

Net Worth

$13,000

Home Ownership

42%

Buying Power

$1.4 trillion

Dollar Circulation

6 hours

197 million

$13 trillion

$70,000

$143,000

73%

$13.2 trillion

17 days

17 million

$800 billion

$87,000

$160,000

57%

$1.2 trillion

28 days

52 million

$474 billion

$51,000

$21,000

47%

$1.7 trillion

7 days

Percent of Total U.S. by Race and Category
Race
Black
White
Hispanic
Asian
Population
12.8%
60%
15.8%
5.2%
Workforce
11%
68%
15.5%
5.5%
Businesses
12%
67%
12%
9%
Revenue
Business
1%
90%
3%
5.5%
Employees
Business
1.5%
88.5%
4%
6%
Power
Buying
8%
75%
10%
7%
Black Employment by Sector
Public
15 million
75%
Black Businesses
2.7 million
13.5%
Other Businesses
2.3 million
11.5%
Sources:  U.S. Census, 2020;  Greenwood, Circulation of Dollars in the Black Community, October 8, 2020
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