The numbers behind the economic inequality between black-owned and white-owned businesses are shocking. In fact, black-owned businesses are disproportionately underfunded and more likely to be rejected by investors, where said investments most often go to businesses led by white men.
Alongside this, the US Federal Reserve found that black-owned companies are twice as likely to be rejected for loans.
So What Is Black Pound Day?
Black Pound Day is aimed at increasing the visibility of black businesses and highlighting the importance of spending black. It aims to be the biggest marketplace and directory to spend black in the UK and Europe.
Black Pound Day was specifically created to support the growth of the UK black economy.
How Can You Support Black Pound Day?
The importance of Black Pound Day is to encourage communities to replace their usual purchases with products from black-led businesses locally or online on the first Saturday of every month.
Consumers can use the Black Pound Day website to search, discover and purchase from a wealth of black-owned UK businesses - from hair and beauty to sports and fitness, to food brands, web development, clothing and many more.
Best of all, you can support these businesses by buying directly through the Black Pound Day directory.
Let us know if there are any black-owned businesses that you personally love or wish to highlight by adding to the comments below or emailing us at email@example.com