The goal of the 'Buy Black' movement is to generate and maintain wealth among Black communities, as Black-owned firms disproportionately earn less than their...
, said while there’s plenty of reasons to celebrate the Buy Black movement in the U.S., there is more work that needs to be done to bring the Black community closer to economic equality and more prosperity.Black people make up more than 15% of the area’s population, but are disproportionately underrepresented as business owners in Dallas-Fort Worth.
The following year, the rate of Black businesses earning less than $100,000 climbed to nearly two-thirds, according to a Small Business Credit Survey from the Board of Governors of the Federal Reserve System. Scott Curley, the CEO of FinishLine Tax Solutions, poses for a photograph at his office in Plano, TX, on Jan 13, 2023.
“By creating a fully ownable beauty experience, JCPenney can quickly adapt and respond to our customers’ wants and needs,” said Michelle Wlazlo, JCPenney’s executive vice president and chief merchandising officer. Spending by Black shoppers has increased 5% annually over the last two decades, according to a McKinsey report. In 2019, it totaled around $835 billion. Black spending outpaces the 3 percent growth rate from white households, in part due to faster population growth among Black Americans.
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