MBBGA T Shirt

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Every year black Americans spend an estimated $1.2 trillion. This combined spending power exceeds several nations’ gross domestic product (GDP). Given this scale, leaders within the black community, both historically and today, have heralded blacks’ collective buying power as a powerful tool to advance the race. Former President Donald Trump’s notorious phrase during his presidential election, "Make America great again"(MAGA) got turned into a whole different meaning.  Shop my “Make Black Businesses Great Again”(MBBGA) shirts , a phrase when it comes to the survival of our thriving dollar.

We are powerful !!!!!!!! 
According to an Article published in Harvard Business School from May of 2021,

In the United States, an astounding 17% of Black women are in the process of starting or running new businesses. That’s compared to just 10% of white women, and 15% of white men.

Yet despite this early lead, only 3% of Black women are running mature businesses. To understand why this steep drop off occurs, and how to combat it, we analyzed data from interviews with more than 12,000 people, nearly 1,700 of whom identified as entrepreneurs and nearly 1,200 of whom own established businesses.

The research was part of our work with the Global Entrepreneurship Monitor, an annual comprehensive survey of entrepreneurship rates and attributes, conducted in more than 120 economies since 1999. The large-scale survey is administered by academic research teams in each economy; we represent the U.S. team.

Our analysis offers several possible reasons Black women entrepreneurs struggle to sustain their businesses.

One explanation may be the types of businesses started: Our analysis shows that 61% of Black women entrepreneurs start businesses in either retail/wholesale or the health, education, government or social services sectors, compared to the 47% of white women and 32% of white men entrepreneurs. To the extent that these are small, informal businesses with low margins in crowded competitive contexts, they are more difficult to sustain over the long term.

Another possible explanation is access to capital, which could, in turn, influence what types of businesses Black women open. In previous research we found that 61% of Black women self-fund their total start-up capital. This is in spite of the fact that in our analysis of the GEM data only 29% of Black women entrepreneurs live in households with incomes over $75,000, compared to 52% of white men. This result, along with data showing that Black people take on a higher level of debt to go to college, and are less likely to own their own home, suggest that educated Black women are encumbered with debt, and have fewer personal resources and low collateral.

In addition, access to key resources needed for entrepreneurship are unevenly distributed in U.S. society, reinforcing the advantage of certain groups while impeding the entry and catching-up of disadvantaged groups. This only reinforces a cycle where resource limitations reduce one’s ability to generate financial gains from entrepreneurship.