In 2011, Nielsen and the National Newspaper Publishers Association projected that black buying power will reach $1.1 trillion by the year 2015. This $1.1 trillion however is coming into our community and is gong right back out. A community’s economic health directly correlates to how many times money circulates or recycles within that community.
According to the University of Georgia’s Selig Center for Economic Growth: “Money circulates zero to one time within the black community, compared to the more than six times it circulates in the Latino community, nine times in the Asian community and unlimited amount of times within the white community.”
In the late 1980s the president of Revlon Irving Bottner told Newsweek: “In the next few years, black-owned businesses will disappear. They’ll all be sold to the white companies.” He added, “We are accused of taking business away from the black companies, but black consumers buy quality products – too often their black brothers didn’t do them any good.”
