Financial Revolution

The Impact of the Civil Rights Act on Black-Owned Businesses

The Civil Rights Act of 1964 marked a pivotal moment in American history by prohibiting discrimination in public accommodations, effectively desegregating American businesses. However, this legislation also heralded a significant decline in the viability of self-sufficient Black-owned enterprises within their communities across the nation. The 1964 Act led to a rapid decrease in Black-owned businesses, as Black consumers increasingly chose to spend their money in white-owned establishments.

Currently, according to financial analyses, the average Black dollar circulates within the Black community for a mere six hours before it exits, indicating a swift turnover. In contrast, the dollar remains for an estimated 17 days in White communities, 19 days in Jewish communities, and 28 days in Asian communities, highlighting a stark disparity. This conditioned mindset perpetuates a culture of servitude-- “Don’t bite the hand that feeds you.”

In Good Morning, Heartache, the Black Mecca in the early 1960s, was located around North Dargan Street and North Florence in South Carolina, where the community thrived with its own businesses until desegregation occurred.

There is good news—innovative changes in living, consuming, and thinking are emerging. Founded in 1992 in Queens, New York, by Daymond John, FUBU (“For Us, By Us”) marked a revolutionary movement that instilled pride within the Black community, revitalizing the hearts and invigorating the creative spirits—if they can succeed, so can others.

My personal mission is to shop with individuals of African heritage. There are numerous options available. Research your local area and if you can’t find any, no worries, shop online. Just be cautious of those attempting to masquerade as a Black-Owned Business (BOB).

Homework: Support BOB. Their survival is based on our support.

Until our next Blog...