Why buying black is a necessity - Dr Boyce Watkins

Buying Black is not charity. It is an economic strategy.Every time we spend money, we are casting a vote for the businesses, families, and communities we want to survive. When Black dollars immediately leave our community, they create jobs, ownership, and wealth somewhere else. But when we intentionally support Black-owned businesses, we give those entrepreneurs the revenue they need to hire employees, expand operations, purchase property, and invest in the next generation.A strong community must have more than talented workers. It must have owners.Ownership gives us control over jobs, products, technology, land, education, media, and the stories told about our people. When we do not own the businesses serving our community, we remain economically dependent on institutions that may not prioritize our interests.Buying Black also helps build family wealth. A successful Black business can pay for a child’s education, provide employment for relatives, become an inheritance, and create opportunities that last for generations. One purchase may seem small, but millions of intentional purchases can transform entire neighborhoods.This does not mean supporting poor service or low-quality products. Black businesses must compete, improve, and treat customers well. But we should give strong Black-owned companies a fair opportunity to earn our loyalty instead of automatically assuming that bigger corporations are better.We cannot demand economic power while refusing to practice economic discipline. Marching can raise awareness. Voting can influence policy. But spending, investing, producing, and owning determine who controls the economy.The Black community has enormous purchasing power. The question is whether we will use that power to build institutions we own or continue using it to make everyone else wealthy.Put the word MONEY in the comments to get an invitation to my morning financial class, or visit BoyceWatkins.com.